Measure would audit the Fed’s monetary policies such as interest rates

[Article from MarketWatch.com]

bumpersticker from: http://www.cafepress.com/+are_you_better_off_now,392044147

A key congressional panel on Thursday approved legislation introduced by the Texas congressman that – for the first time in the central bank’s 95-year-history — would require government audits of Federal Reserve monetary policy, as well as how much the central bank has lent and will lend to specific banks.

Fed Chief Ben Bernanke and other key members of the Obama administration, including Treasury Secretary Tim Geithner, had vigorously opposed the move.

The measure was approved by the House Financial Services Committee as it considered broad bank regulatory reform legislation, and included a package of other measures weakening the Fed’s power and capping how much it can lend or guarantee.

The committee is now poised to pass the entire bill and has scheduled its final vote on the legislation for December 1.

AM Report: Ron Paul vs. the Fed The News Hub panel discusses Ron Paul's Opinion piece in today's Journal, which argues for a more transparent Federal Reserve.

[Continue reading and view video here...]

[Article from The Red Pub Magazine online]
By Benito Segovia

On Sunday, November 22, 2009,  local activist group End the Fed Houston will be joined by Congressman Ron Paul at Buffalo Bayou Park between 1:00pm and 4:00pm to peacefully protest America’s central bank as the source of 2008’s economic woes. The Rally is titled “Save the Dollar, End the FED!” According to the group, the central economic planning and controlled devaluation of the U.S. Dollar have perpetuated and exacerbated past and present economic conditions.

“Politicians and banking officials have purposely used hard-to-understand banking terms to disguise the true nature of our central banking system.” Organizer Charlene Keller said, “This successfully confuses the public and hides the fraud that is actually going on. We plan to break it down in plain English.”

According to the group, the boom and bust business cycles the U.S. has seen for the past 100 years are directly architected by monetary policy originated within the walls of the Federal Reserve Bank. These crises are then complicated by changes in value of the U.S. Dollar. “It’s like trying to build a house, but the measuring stick you use keeps changing.”  Said organizer, Jonathan Kocurek, “In our case, the measuring stick is the value of the U.S. Dollar.” The group further purports that the Fed controls the value of the dollar by expanding or retracting the currency supply and this constant meddling leads to systematic instability.

The rally is endorsed by a wide variety of local and national groups including Young American’s For Liberty – University of Houston chapter, The Harris County Libertarian Party, The Houston Area Liberty Campaign (on Meetup.com) and Restore the Republic.

Continue reading here…http://www.redpubmagazine.com/article.php?id=438&section=12.