September 17, 2014 – The Swiss people are speaking out against their central bank. They have demanded a referendum with backing their currency with 20 percent gold and demanding return of their gold stored in the United States. Likewise, the American people are seeking restraints on the Fed—our central bank.
The House overwhelmingly passed a bill to Audit the Fed and, if it ever becomes law, the people will demand reform of our monetary system that rewards a privileged few at the expense of the middle class and poor. This bill was passed in the House once before in 2012 while I was still a member. Fortunately the momentum continues, and thanks especially to Paul Broun of Georgia and Thomas Massie of Kentucky. It passed this time with an even greater margin—327 to 98—which was strongly bipartisan.
Sen. Rand Paul has the companion bill, Sen. 209, with 30 cosponsors. A lot of pressure will have to be put on Harry Reid if we expect to get a vote in the Senate. Republican leaders in the House, it must be recognized, were instrumental in allowing the bill to come to the floor and joining the large majority in support. Only one Republican voted against it.
The Republican leaders in the House now are publicly putting pressure on Reid to allow a Senate vote. Pressure from the public is crucial in motivating Congress to do the right thing. Campaign for Liberty has worked hard to garner the support that was needed to force this vote.
It is true that many of those who voted for the audit may not have understood its significance and voted for it for political reasons, and that’s okay. Education on the issues can have an effect on government policy, and I believe that’s what’s happening on the monetary issue and the Fed.
As the financial crises get worse, the need for real reform will become evident. Fiat money always fails. Gold survives all challenges.
Do you think our government will finally allow an audit of the Federal Reserve? Share your thoughts in the comments below.