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Audit the Fed Legislation Introduced – Will Trump Back It?

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Published on: January 7, 2017

The majority of power and influence that exists in our world today lies within the grasp of five wealthy families and their descendants, many of whom were complicit in the creation of the Federal Reserve. That has led to a devaluing of real money, replacing it with fiat currency and untold wars and corruption. Now, Kentucky Senator Rand Paul, along with Representative Thomas Massie, are following in the footsteps of Ron Paul and have introduced legislation that would audit the Fed.

The Hill reports:

Rep. Thomas Massie (R-Ky.) and Sen. Rand Paul (R-Ky.) have re-introduced legislation to “Audit the Fed,” after a similar effort stalled in the last Congress.

But such a proposal, which has been vocally opposed by Federal Reserve Chairwoman Janet Yellen, may face its best odds ever of becoming law. Both chambers are controlled by Republicans long critical of the Fed’s policies, and President-elect Donald Trump has heaped scorn on the central bank since the beginning of his presidential campaign.

Of course, Yellen is against it. The Federal Reserve is a private, central bank that prints money out of thin air and charges the American people to do it! It’s a sham, one that not only our Constitution condemns, but so does the Bible (Proverbs 11:1; 20:10; Leviticus 19:35-36; Micah 6:10-12).

Senator Paul called on President-elect Donald Trump to put his money where his mouth is with regards to his professed support of an audit of the Federal Reserve to outside review by the Government Accountability Office.

“The U.S. House has responded to the American people by passing Audit the Fed multiple times, and President-elect Trump has stated his support for an audit. Let’s send him the bill this Congress,” said Paul.

Similar bills have been rejected by Paul’s father and the Senate rejected legislation that would carry out an audit in 2016. Interestingly enough, Senators Bernie Sanders (I-VT) and Tammy Baldwin (D-WI) supported the bill, which Republican Senator Bob Corker opposed it.

The bill now actually has promise of not only being passed in Congress, but also being approved and signed by Trump.

“It is time to force the Federal Reserve to operate by the same standards of transparency and accountability to the taxpayers that we should demand of all government agencies,” said Congressman Massie.

The Washington Standard reviews a bit of the history of the Federal Reserve:

…the Federal Reserve Act of 1913 wasn’t introduced as a bill by Congress. Instead, the bill was drafted in secret on Jekyll Island, Georgia, in 1910. Often the retreat for billionaires, Jekyll Island was the playground for the nation’s richest 1 percent.

According to one source, those in attendance were, “Senator Nelson Aldrich, his personal secretary Arthur Shelton, former Harvard University professor of economics Dr. A. Piatt Andrew, J.P. Morgan & Co. partner Henry P. Davison, National City Bank president Frank A. Vanderlip and Kuhn, Loeb, and Co. partner Paul M. Warburg.”

These elite men had five objectives, all bad ideas reminiscent of a drug cartel, or an oil cartel like OPEC, but focused more on monetary control. The following five objectives were used to establish the Federal Reserve.

  1. Stop growing competition from banks
  2. Obtain franchise to create money
  3. Get control of all banks’ reserves
  4. Shift losses to taxpayers
  5. Convince Congress of its purpose

There are no elected officials in charge of running the Fed. Also, the Fed is privately owned but no one knows by whom because the Fed is not accountable to anyone, not even the government of the United States.

While there is some hope the bill might actually become law, Tyler Durden points out, “Skeptics, however, note with Trump surrounding himself by numerous Wall Street scions in his new administration, and with the Fed an entity owned mostly by Wall Street (as Ben Bernanke’s former advisor infamous suggested last year when he said  that “People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned“) it remains unlikely that any true change to the operational nature of the Fed will be implemented, especially if it gives Congress an upper hand over Wall Street in what to many is the most important decision-making process in the nation: setting the price of the money in general, and the US dollar in particular.”

To really make America great again, we need to return to sound money and End the Fed.

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