Posted by tttttt on 04/23/09Last updated 04/22/09
On Tuesday, April 21, 2009, the Contra Costa County (California) GOP held its monthly meeting. A resolution asking to support HR 1207, The Federal Reserve Transparency Act of 2009, was introduced as new business. The text of HR 1207, the list of its current cosponsors, and the first page of the April 16 Federal Reserve H.4.1 statistical release were provided to the members at the beginning of the meeting. The first row of the H.4.1's starkly illustrates that the Fed, by its own (limited) admission, more than doubled the size of its balance sheet from $868B to $2.098T in just the past year.
http://www.federalreserve.gov/releases/h41/Current/
A brief presentation was given explaining the bill, the need for audit of the Fed, and the implications of debt monetizations unprecedented in scope. Also, a recently-printed and now worthless $100 Trillion Zimbabwe bank note was passed around the room.
http://en.wikipedia.org/wiki/File:Zimbabwe_$100_trillion_2009_Obverse.jpg
Discussion of the bill ensued. It should be mentioned that the majority of this particular central committee's members did not identify themselves as Ron Paul supporters last year. I.e., they are mainstream Republicans. Some members stated their lack of familiarity with both the bill and the unaccountability of the Fed. However, many did understand the Constitutional issues involved, the importance of transparency, and the systemic risk of inflation.
The motion carried 14-2, with 3 abstentions. The abstaining members indicated a willingness to vote affirmatively had they been provided additional time to independently research the issue---a principled stand. For others, the highly dynamic nature of current economic/political conditions suggested a more timely stance was apropos.
So it's now Contra Costa's turn to ask, "Who's next?" Our resolution took inspiration from our friends in Sonoma and Alameda with some subtle improvements. Let's the keep the ball rolling.
Contra Costa County Republican Party Resolution of SUPPORT for HR 1207 - The Federal Reserve Transparency Act of 2009
Whereas, we, as Members of the Contra Costa County Republican Party applaud transparency and accountability in government and reject government secrecy involving monetary policy that impacts the entire economy; and
Whereas, serious discussions of proposals to oversee and audit the Federal Reserve are long overdue; and
Whereas, the Federal Reserve can enter into agreements with foreign governments and foreign central banks and the United States Congress is prohibited from overseeing these agreements; and
Whereas, we, as Members of the Contra Costa County Republican Party, believe agreements made by the Federal Reserve with foreign powers and foreign banking institutions should be subject to Congressional oversight; and
Whereas, Article I, Section 8 of the Constitution for the United States of America, gives the Congress the authority to coin Money and regulate the value thereof; and
Whereas, auditing the Federal Reserve will allow Congress to assert its constitutional authority over monetary policy and help to protect the value of the United States dollar;
Therefore, BE IT RESOLVED, that we, the Members of the Contra Costa County Republican Party, in defense of the Constitution for the United States of America, STRONGLY URGE the representatives of the 111th United States Congress to support the Federal Reserve Transparency Act of 2009.
Categories: Campaign For Liberty, Finance, Republican Party, Grassroots News, Action Item, Current Events, Economy, Monetary Policy, Congress
Tags: HR 1207, GOP, Contra Costa
Showing comments 1—8 of 8
Posted 04/23/09
Champion Of Liberty
Pembroke Pines, FL | So what happens if we do get to audit the Fed, and they report BS numbers? We all know thats going to happen. Then what? |
Posted 04/23/09
Jumperno64
Kalamazoo, MI | The audit is done by the GAO. It all depends on the credibility of the Comptroller General at the time of the audit and if he knows where to look and if he can be bought. Yes, that is a scary proposition. |
Posted 04/23/09
TakingBackTheGOP
Livermore, CA | Good job Contra Costa GOP! We at the Alameda County GOP stand with our sister-county in demanding accountability.
Alameda County, Sonoma County and now, Contra Costa have banded together in support of H.R.1207! It's good to see Republicans acting like conservatives! Keep up the good work!
REVOLUTION! |
Posted 04/23/09
TakingBackTheGOP
Livermore, CA | The Republican Liberty Caucus of California also passed a resolution in support of H.R.1207!
http://www.rlcca.org/ |
Posted 04/23/09
smashysmashy
dover, NH | Here is my take on HR 1207. There is no doubt in my mind that if it does get passed and the Fed is audited, they will lie. But here is the thing, anyone who does even a quick wiki about the Fed is incredibly disturbed. I've told many people to look into the Fed and they couldn't believe who has been behind our money supply and how they conduct their business. This bill's purpose, IMO, is to make people aware of the Fed, despite what the audit tells us. Even if the bill died today, I still think we've won by opening so many eyes. And at this point, whether it passes or not, we can only open more eyes. I doubt many people will trust the Fed anymore even if an audit came back clean. |
Posted 04/23/09
Jumperno64
Kalamazoo, MI | http://www.youtube.com/watch?v=pTsB_jkaIvg
A video of Barney Frank saying that HR 1207 will be heard in committee later this year and that he supports transparency in the FED. |
Posted 04/27/09
enjoiskaterguy
Kenwood, CA | Fantastic news...Lets keep the ball rolling. I am proud that 3 counties have supported it. Lets get 10 counties to support it and have a precedent for the rest of the nation to follow.
California is the largest state in the Union in terms of the number of people and the amount of power and influence that is affected. We must take the charge in defending liberty. |
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