Posted by doctormark77 on 10/20/09
Last updated 10/21/09

I just got the word about the Federal Reserve Accountability Act. This compromise is not going to do the job S604 will so it is not good enough for me. Both of my senators already are co-sponsors of S604, so hopefully nothing will change. I did not waste anytime though and threw together this email and sent it to both senators. Here it is, feel free to use it and/or modify it. The senator's name and my name have been removed.

Good Evening Senator [name],

First of all I would like to thank you for your co-sponsorship of S604, the Federal Reserve Sunshine Act of 2009. Our dollar is worth about four cents compared to what it was worth when this deplorable, unconstitutional central bank was created in 1913. This bank is doing whatever it pleases with taxpayer money, giving it to other banks, even foreign banks. The worst part is that title 31 of United States Code prevents the GAO from being able to tell us what the federal reserve is doing with taxpayer money. Your co-sponsorship of S604 shows me that you are as concerned about this as I am and that you actually, unlike many politicians, have my best interest at heart.

Secondly I would like to warn you about the Federal Reserve Accountability Act, Introduced October 20, 2009 today by Senators Jeff Merkley (D-OR) and Bob Corker (R-TN). This 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. This compromise will simply not suffice. The federal reserve should not exist since it is not constitutional to begin with. I am aware that the fed was created by congress in 1913. I am however also aware that section eight of article one of our constitution begins to read, "The congress shall have power to..." not "The congress and all of it's creations shall have power to...". With this being said, I will get to my point. At the very least, the federal reserve must be absolutely crystal clear transparent, like every other branch of our government. This watered down compromise does not accomplish what needs to be done, whereas the bill you are currently co-sponsoring does.

In closing, I am very pleased with the fact that you are co-sponsoring S604. This shows me that you are looking out for the best interest of your constituents. I sincerely hope that you are not fooled by this weak compromise. Your continued vigilance in the struggle for real fed transparency will directly affect my voting in the 2010 elections.

Thank you for listening!

Your friend in liberty,

[name]