Tuesday, July 6, 2010

So much for transparency.. although this LIE comes in at only #10 on the Top Ten list

Look who flip-flopped on 'Audit the Fed' vote
By Chelsea Schilling
© 2010 WorldNetDaily

Despite more than 120 co-sponsors of a bill to audit the Federal Reserve – nearly all Democrats – flip-flopping and voting against the effort, Rep. Ron Paul is warning that the Fed will not "win the war" for an honest monetary system.

Paul, R-Texas, has led the charge to audit the Federal Reserve, the private organization that sets interest rates and money policy affecting everyone in the United States.

For decades those decisions have been made behind closed doors, and Paul has been trying to open the door and allow some light to fall on the procedures. He sponsored the audit the Fed bill previously supported by 320 members of the House. However, the audit provision failed by a vote of 229-198.

The Wall Street Journal confirmed maneuvering because of "pressure" from the Obama administration would allow the Federal Reserve "to sidestep legislation that would have exposed its interest-rate decision-making to congressional auditors."

"An interesting thing happened here because we do have 320 co-sponsors of H.R. 1207 and it passed the committee rather easily and it was not challenged on the House floor in the first go-around," Paul said. "Here we were on the House floor with a chance to put it back in, and … individuals who were co-sponsors of the legislation voted against it."

No comments: