Sen. Cruz: Bring Transparency to the Federal Reserve, Vote to Audit the Fed

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Published : November 14th, 2013
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Category : Crisis Watch

By Eric Dubin  24hGold - Sen. Cruz: Bring Tra...

Senator Ted Cruz is backing Rand Paul’s demand for the passage of legilsation to audit the Federal Reserve.  He released the following statement in advance of Janet Yellen’s Thursday hearing before the Senate Banking Committee:

“I agree with Rand Paul:  before the Senate votes on whether to confirm Janet Yellen, we should at the very least allow a vote on the Audit the Fed bill. The Federal Reserve has expanded our money supply by trillions, benefitting Wall Street but making life harder for millions of Americans struggling to make ends meet. Never-ending quantitative easing threatens to undermine the dollar and to drive up prices on everyday goods from food to gasoline to the basic necessities of life. We need to bring transparency to the Fed, so the American people can understand the scope and consequences of its policies.”

How this issue is received by the mainstream faction of the Republican Party will be insightful.  Members of the Tea Party Congressional Coalition along with traditional, Constitution-minded conservatives might come under renewed attack, as was seen during the Obamacare government shutdown debate.  How the call for an audit of the Fed is treated this time around will be quite telling.  Technically, if audit backers can get the support of the Senate Republican Conference, it would be possible to position the vote for an audit as a precondition to let the nomination move forward.

Earlier this year, the bill had 19 bipartisan co-sponsors in the Senate and well over 100 co-sponsors in the House of Representatives.  During the  112th Congress, Audit the Fed legislation (H.R. 459) passed the House of Representatives 327 to 98.

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Mr. Dubin co-produces the SilverDoctors.com Weekly Metals & Markets Wrap radio program and serves as the Managing Editor of their sister site, TheNewsDoctors.com. TND is dedicated to bringing the best news from around the web and pairing it with exclusive, insightful and decidedly non-mainstream news and analysis. Mr. Dubin has over 15 years of experience as a financial journalist. He's an independent buy-side analyst and portfolio manager with 24 years experience. He managed the "Tech Stalker" "Strategy Lab" portfolio for MSN Money for over two years, and served as the lead communications and end markets analyst and managing editor for INFRASTRUCTURE, the first technology-focused financial securities letter published on the internet. He welcomes feedback on his articles and will make an effort to respond to comments. He can also be contacted, followed and encourages "friend" requests on his Facebook page: www.facebook.com/EricDubin
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NO AUDIT, we need to End the Fed and prosecute all the private shareholders for fraud. NO Private Cartel should have a monopoly on money creation.
"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."
John Dalberg Lord Acton
SHOW some BALLS Land of the Free, Home of the Brave

Resolve the issue in the 21st century.
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Auditing the Fed is easier to get past the US Congress and once the Fed audit is done, that will help create the political will to end the Fed.

Don't be linear in your thinking. Show some agility and strategic thinking in addition to having balls.
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Auditing the Fed is easier to get past the US Congress and once the Fed audit is done, that will help create the political will to end the Fed. Don't be linear in your thinking. Show some agility and strategic thinking in addition to having balls. Read more
Eric Dubin - 11/16/2013 at 12:33 AM GMT
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