[quote]A House panel on Tuesday approved legislation that would let a government watchdog audit the Federal Reserve’s monetary policy decisions, a move bitterly opposed by the central bank.
The House Committee on oversight and government reform passed the measure by voice vote after roughly 30 minutes of debate.
The bill was the brainchild of Ron Paul, the former House Republican and libertarian presidential candidate and sharp critic of the U.S. monetary policy. Versions of the bill have twice passed the House by wide margins but then stalled due to lack of support from Democrats in the Senate and the Obama administration.
Analysts said the measure has a better chance to become law now that Republicans control both houses of Congress and the White House. Paul’s son, Rand, the Republican senator from Kentucky, has introduced a similar measure in the Senate.
“It is ironic that the arsonists that caused the financial collapse are now being given credit...for putting out the fire.”
[b]Democrats in the committee were firmly against the bill.[/b]
“This bill would open the floodgates to political interference in monetary-policy making,” said Del. Eleanor Holmes Norton, a Democrat from the District of Columbia.
Rep. Carolyn Maloney, a Democrat from New York, said the measure would lead to higher interest rates because it would undermine the market’s confidence in the independence of the central bank.
Republicans said the measure was needed to rein in the Fed.
“It is ironic that the arsonists that caused the financial collapse are now being given credit...for putting out the fire. Almost every macroeconomist concedes in retrospect that [the Fed’s] extended period of easy money led to the financial crisis,” said Rep. Thomas Massie, a Republican from Kentucky.[/quote]
http://www.marketwatch.com/story/house-panel-passes-bill-to-audit-the-fed-2017-03-28
https://archive.is/iANdA
Hmmm.... I wonder why those [i]democrats[/i] are against auditing institutions like corporation.
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Fantastic. Let's not forget that it's more useful for people to transition to crypto-currencies than it is to try and resurrect the USD. Why fight for the existence of a corrupt centralized banking institution when you can have a free market, where the elites [i]can't[/i] erode your savings through inflation?
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If they actually go through with auditing the Fed and returning American power to America, Trump will be killed. No one has crossed the Fed and come out unscathed. But hey maybe this administration can. I would hope so because an audit and oversight of the fed would be a good thing.
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Lmao. Government control is a good thing for conservatives now? What crazy world are we living in?
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This is absolutely outstanding. If Trump does this [i]one thing[/i] plus establishes term limits on congress his presidency would have been justified.
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[quote]I wonder why[/quote] Do you really? Do you really just... Wonder why? Spend your whole day doing this do you? Perhaps if one were to wake up from "Wonderland" and take a cold hard look at what's going on behind the "Oz" curtain, one would understand that this sleight of hand, this misdirection, isn't going to amount to anything. But hey, why would one want to do that when they could stay Hoodwinked in Wonderland? How far down the rabbit hole do you wanna go? By the looks of all of this, it's easy enough to surmise that this adventure in Wonderland has absolutely nothing to do with even finding the rabbit hole. Democrat or Republican is irrelevant. Just another "dog and pony show." Stay comfy.
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[quote]This bill would open the floodgates to political interference in monetary-policy making[/quote] Ayy lmao
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Wait [quote]EmpressJaxelo[/quote] [quote]Empress[/quote] You never cease to confuse me
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-blam!-ing fabulous!
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This honestly does nothing as much as the FED is responsible for the 2008 crash and even the Great Depression their monetary policy is always been influenced by the standing president if they really want to make a change for more than just trumps presidency then they should eliminate the Fed
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Edited by tjustie: 3/29/2017 3:56:33 PMOf course it's Ron Paul. I doubt it will pass all the way.
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Libertarians silent.
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[quote]a move bitterly opposed by the central bank.[/quote][quote]Democrats in the committee were firmly against the bill.[/quote]RMYT
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Another week another win