Rand Paul is at it again, but the difference is this time, he could very well get his “Audit the Fed” bill passed. The Fed if operated correctly and morally would be a very useful resource, unfortunately it is politicized and does not make decisions based on what is best for the country. Most importantly, we need to know how much money they have printed out in order to truly know what our dollar is worth. I have long suspected that a large quantity of money has been printed to allow Obama to spend wildly, while holding down the deficit.
Sen. Paul’s 2016 Federal Reserve Transparency Act finally received bipartisan support, with almost unanimous Republican support and support from Democrat Senators Tammy Baldwin (D-WI) and Vermont independent Sen. Bernie Sanders. But the bill fell short of the 60 votes needed for consideration after Senate Democrats leadership shot it down.
But with more Republicans on his side — and the support of President-elect Donald Trump — Paul reintroduced the Federal Reserve Transparency Act as Senate Bill 16. With the Democrat leadership licking their election wounds and unwilling to oppose something the public has supported by over 70 percent since 2013, the bill looks to pass the Senate and then move on to an easy pass in the House as H.R. 24.
Sen Paul said:
“No institution holds more power over the future of the American economy and the value of our savings than the Federal Reserve. Yet Fed Chair Yellen refuses to be fully accountable to the people’s representatives.”
Rep. Massie (R-TN) added:
“The American public deserves more insight into the practices of the Federal Reserve. Behind closed doors, the Fed crafts monetary policy that will continue to devalue our currency, slow economic growth, and make life harder for the poor and middle class.”