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Posted by tttttt on 05/27/09Last updated 05/27/09
Contra Costa County Republican Party Challenges Democratic Party and Congressional Delegation to Endorse the Federal Reserve Transparency Act
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NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACTS FOR PRESS:
Michael Caporusso, Contra Costa Republican Party
(925) 930-9551
director@contracostagop.com
Contra Costa County Republican Party Challenges Democratic Party and Congressional Delegation to Endorse the Federal Reserve Transparency Act
WALNUT CREEK, CA - MAY 26, 2009 - In the month since endorsement by the Contra Costa County (California) GOP, HR 1207, The Federal Reserve Transparency Act of 2009 has garnered 179 co-sponsors---more than for any other bill currently before the House.
The Contra Costa Republican Party (CCRP) urges and challenges its counterpart, the Contra Costa Democratic Party, to endorse HR 1207, the Federal Reserve Transparency Act of 2009, and appeal to the Representatives for Contra Costa County---George Miller (CD-7), Ellen Tauscher (CD-10), and Jerry McNerney (CD-11)---to cosponsor the bill.
HR 1207 requires the Government Accountability Office (GAO) to perform the first Congressional audit of the Fed by the end of 2010. Such an audit will reveal details of agreements made by the Fed with foreign central banks and governments and show which banks and Wall Street firms have received bailout monies. Introduced by Rep. Ron Paul of Texas, the bill is co-sponsored by 146 of the 178 House Republicans and 33 of the 256 House Democrats. Grassroots activism has driven cosponsorship, yet the bill languishes in the House Committee on Financial Services.
Recent information indicates much bigger problems with the Fed than previously believed. The Fed's recent H.4.1 statistical release claims more than a doubling of its balance sheet 'assets' from $930M to $2.18T in the past 52 weeks.
http://www.federalreserve.gov/releases/h41/Current/
However, Bloomberg Press estimates off-balance sheet transactions of the Fed between $9T - $13T in the past eight months. The Fed has refused Bloomberg's FOIA requests and ducks questions by the Senate and House banking committees. The Fed's Inspector General has performed no audit, no review, nor has any knowledge of sizes of loans nor identities of recipients or magnitudes of losses on loans extended by the Fed:
http://www.youtube.com/watch?v=cJqM2tFOxLQ&feature=channel
This credit extended unilaterally by the Fed ultimately gets monetized. This amount is roughly equal to nominal US annual GDP. Or $30,000 new debt per every man, woman and child in America.
Lynn Woolsey (CD-6) and Pete Stark (CD-13) are the only Bay Area representatives to have co-sponsored HR 1207.
Rep. George Miller (CD-7) misleadingly claimed to a group of constituents during a May town hall meeting that he already was a co-author [sic], then in a seemingly self-contradictory statement pledged that he would sponsor the bill. Miller, a self-described proponent of 'transparency,' does not appear on the House Clerk's official list of sponsors for HR 1207. The town hall meeting was videotaped and posted to YouTube:
http://www.youtube.com/watch?v=RgNi1zbsJ2c
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 800 S. Broadway, Ste. 102, Walnut Creek, CA 94596 Phone: 800 S. Broadway, Ste. 102 Fax: Walnut Creek, CA 94596 Email: director@contracostagop.com
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Categories: , Campaign For Liberty, Finance, Law, Domestic Policy, Republican Party, Democratic Party, Grassroots News, Action Item, Current Events, Economy, Monetary Policy, Congress Tags:
Showing comments 1—3 of 3
Posted 05/30/09
 enjoiskaterguy Santa Rosa, CA | All right guys. Great work! Lets see what comes of this. |
Posted 05/30/09
 enjoiskaterguy Santa Rosa, CA | Another video with Rep. Miller about HR 1207
http://www.youtube.com/watch?v=ryHK8kGpgAw&feature=related |
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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: GOP, HR 1207, 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 , OR | 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 , OR | 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 Santa Rosa, 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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Your help is needed to monitor the Election Ballot Recount effort by Election Department workers, for the Harmer-McNerney CD11 Congressional Race. This effort starts tomorrow, Thursday November 4, and continues every day for as long as it takes to recount some 50,000 Absentee Ballots; at the Registrar of Voters offices in Santa Clara County, Alameda County, San Joaquin County, and Contra Costa County. You will watch the workers to insure that fraud does not take place.
Schedule which county, days, and times that you can work. Contact Chris Del Beccaro at Harmer HQ by calling 925-415-1178. Leave a message if need be. Harmer staff will monitor this phone number between 9 am and 9 pm every day. You may also email to chris@harmerforcongress.com
The most important need is to staff the Santa Clara County and Alameda County offices, where we need to schedule 10 to 15 people for each office. We need ten people at the San Joaquin County office and ten at the Contra Costa County office. The San Joaquin County recount effort does not start until next Monday, November 8.
These offices are located at: Santa Clara County Registrar of Voters, 1555 Berger Drive, Building 2, San Jose Alameda County Registrar of Voters, 1225 Fallon Street, Oakland San Joaquin County Registrar of Voters, 44 N San Joaquin Street, Suite 350, Stockton Contra Costa County Registrar of Voters, 555 Escobar Street, Martinez
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Showing comments 1—1 of 1
Posted 11/06/10
 SamWall contra costa, CA | Why should C4Ls support David Harmer when he didn't support CA's resolution to Audit the Fed even though EVERY single congressional republican supported it?
Why should we support him when he says our border problem with Mexico stems from us not giving them enough aid?
Why should we support him when he claims to be against the bailouts but also accepted over $400,000 from the tarp money to his own personal account?
Why should we support him when he wants to continue the war on terror.
I am very disturbed to see this post in the CA C4L blog |
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