Federal Reserve Accountability Act an UNACCEPTABLE compromise!
Fellow Liberty Lovers! Two Senators just yesterday proposed what is an UNACCEPTABLE compromise to Audit the Fed, S604. The new legislation, titled "Federal Reserve Accountability Act" does not call for FULL transparency or accountability. It would limit that which the Fed would report on, or have to disclose to citizens in decision-making and procedural terms. PLEASE CALL YOUR SENATORS TODAY!!! It is vital that they understand that this Act will not be allowed to supercede S604 because it is an unacceptable compromise for the FULL transparency and accountability that millions of U.S. citizens are calling for, and deserve! Audit the Fed, S604, already has over 300 co-sponsors, and the only reason they would try to sneak this in, is because there is serious pressure from those backing the Fed and those affected by the very same decisions we want transparency in! PLEASE CALL YOUR SENATORS!!! Or FAX them! If nothing else, email them! I have forwarded a letter written by C4L Coordinator Brock Southwick; feel free to use this letter as a template for your own statements!
View more information (copied from Campaign for Liberty) below.
Senator Michael Bennett
702 Hart Senate Office Building Washington, DC 20510 Phone: (202) 224-5852 Fax: (202) 228-5036 TOLLFREE:(866) 455-9866 Web Form: Senator Mark Udall Washington, D.C. Office
Hart Office Building
Suite SH-317
Washington, D.C. 20510
P: 202-224-5941
F: 202-224-6471 TOLL FREE: 877-7-MUDALL
(877-768-3255)
In closing, I am personally offended at the audacity of Senators Merkley and Corker to even CONSIDER offering a "compromise" - though it is no such thing - when S604 has already received so much support from the American public! This reeks of stinky, rotten fishy politicians and lobbyists- and mucho mucho money coming from somewhere!!! (The question is, where?)
Good luck!
21 October 2009
Mr. Senator,
I am writing in reference to proposed legislation in two proposals before the Senate.
The first of the two bills is The Federal Reserve Sunshine Act - S. 604. I have written you in the past for your support of this proposed legislation which was first introduced in March of this year. Currently over 30 of your fellow Senators in cosponsoring this much needed legislation to provide transparency of the Federal Reserve System.
The second bill before the senate is without a number as of this morning. This proposal is titled the Federal Reserve Accountability Act, and was introduced yesterday by Senators Jeff Merkley (D-OR) and Bob Corker (R-TN). This proposal ultimately constitutes an unacceptable compromise to S.604. The Federal Reserve Accountability Act falls entirely short of the full transparency of monetary policy that would be offered under S.604. The Fed has made decisions in the past which have in many ways led to the current economic crisis, as well as the continued deterioration of our dollar.
I ask for your support for the bill which would provide the highest level of accountability for those who have been assigned such an enormous responsibility within our American economy. The only bill which provides this level of accountability is S. 604. Thank you for your time.
Truly,
(Your name here)
| CAMPAIGN FOR LIBERTY
Posted by on 10/20/09 4:26 PM |
Federal Reserve Accountability Act An Unacceptable Compromise
Washington D.C. October 20, 2009 -Today, Senators Jeff Merkley (D-OR) and Bob Corker (R-TN) introduced the Federal Reserve Accountability Act, an attempted compromise on the issue of transparency for America's secretive central bank. The bill would permit an audit of the Fed's actions in the Troubled Asset Relief Program (TARP) and similar high profile bailouts, but would not allow Congress to review the Fed's inflation of the money supply or the its agreements with foreign central banks.
Legislation that would bring a full audit of the Fed, Congressman Ron Paul's H.R. 1207 and its Senate companion S. 604, has gained strong grassroots support and built tremendous pressure on banking special interests.
Opponents of Fed Transparency argue that a full audit of the Federal Reserve would damage the central bank's "independence" and allow Congress to dictate monetary policy.
"Claims that transparency at the Federal Reserve would leave Congress in charge of monetary policy are simply bogus," said , Senior Vice President of Campaign for Liberty. "There is absolutely no reason why The American People should not be able to review the minutes of the Federal Open Market Committee after a reasonable amount of time has passed."
"The Federal Reserve Accountability Act does not audit the monetary policy functions which have been responsible for our deteriorating dollar and so many of our current economic problems, and it is not an acceptable piece of legislation. Campaign for Liberty will continue to push for a full audit of the Fed."
The announcement of the new legislation comes after the number of cosponsors in the House of Representatives for H.R. 1207 recently climbed to 303, and S. 604 gained 30 senate cosponsors. Campaign for Liberty has been leading the grassroots effort on H.R .1207, getting it to its current point with 75% of Americans showing support for a thorough audit of the Federal Reserve.