New Power of regulation over the banking system is being proposed and most likely given to the Federal Reserve by this Congress. Remember, the FED, with all of it’s other tentacles attached to the heart of our economic well-being, is also the same FED which is printing up Trillions of dollars of fiat money,(money not backed by any real substance of value), and according to Reserve Chairman Bernanke, not allowing “We the People”, access to their books. Why?, you might ask, would Congress be giving this “Non Government Entity” more power by regulating more banks, when the FED itself, by allowing the bubbles and bursts on wall street and elsewhere, and by overprinting paper money and devaluing it,  is partly responsible for the economic woes of the day. The answer, simple but sinister, is,  that it is to the FED that Congress runs for huge, interest bearing loans,  whenever they crave to grow Government and cannot fund such growth through taxation or budget cuts, (Have they ever successfully cut any budget? Ever? )

Thankfully, Rep. Ron Paul of Texas, is not taking Chairman Bernanke’s veiled threat of imminent doom should their books be opened, as reality.  Rep. Paul has sponsored a bill, HR1207 ” The Federal Reserve Transparency Act of 2009″. Just the sound of it rolls of the tongue like sweet syrup. But is it syrup?, or “Pie in the Sky”?  This bill, co-sponsored by some 253 other Congressional Representatives, including our own Rep. Dr. Charles Boustany,  is currently beginning the hazardous trek through it’s respective committees, before it can ever be discussed and debated on the floor.  At this time, it sits in committee, The House Financial Services Committee, Chaired by Rep. Barney Frank. It waits here until the chair decides to bring it forth, if he ever does. This Bill can easily die in committee, many do, hell most do!. It sits nicely tucked away amongst over 100 other current bills in this committee. One hundred Bills to be queried by this committees seventy-one members.

I was heartened to find that this bill has such 253 co-sponsors and pleased that even the Committee’s Ranking Member, Rep. Spencer Bachus, is himself  a co-sponsor and I hope, a driving force within this committee to help push it through. One name conspicuously absent from this large, and Bi-partisan list of co-sponsors, is that of Committee Chair Rep. Barney Frank. I believe the status-quo is, “the fox is looking after the hen house”, and I don’t think the little foxes like Bernanke and Frank want this situation changed. Leaving it as is, benefits and protects such highly entrenched individuals. I believe, Rep. Frank,  will not allow this bill out of committee any time soon, if ever. To open the books of the FED is tantamount to opening ‘Pandora’s Box” to these people. Looking far behind the curtain, to not only the man behind the wizard, we will actually see where they pay for the flying monkeys, and they can’t allow that!

It is the 253 co-sponsors,  who as we,  see the need for a transparent FED, that makes this legislation proposal the true value it is. A very bi-partisan group of representatives, many, (38), are actual members of the very House Financial Services Committee that is holding their co-sponsored bill now.  These 38 members are in reality a true majority within the 71 member committee! Surely, they can pressure his pompousness Mr. Frank to bring this bill forth to legitimate house debate. Ron Paul himself, sits on this committee. I hope to hear more as this legislation works it’s way through the fog of deceit and self-preservation, that is our United States’ Congress and Senate. I will be tracking this bill and keeping myself and any who wish to follow it with me informed.

To continue to throw money and power towards a supposed situation of economic instability, to an entity that doesn’t answer to the people, is not only doomed to failure due to the inaccuracy of steps being taken, it is in effect “pissing in the dark!”, we might hit it! we might not!  Increasingly it is proper information and detail of our current situation which is the  only tool that will help us make the correct decisions  needed to help remedy this problem. We must be allowed to know what the FED is doing. We must be able to ensure the value of our money, and above all, we must also inventory our gold reserves immediately.  Hyper-inflation or indeed a depression lurk just around the corner for the ignorant. We have the right to know, we must know and will remove in short order those who stand between us and this information. 2010 grows ever closer to many on the wrong side of history, and the survival of America and our Constitutional Rights.

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