The About-Face on "Audit the Fed" Legislation

The Senate has passed financial reform legislation, but, for now, a full audit of the Fed will not be included. The lackluster outcome is at least partly due to the fact that 114 House members that originally co-sponsored the HR 1207 plan then flip-flopped later in the process and voted against it.

In the video below Dr. Ron Paul describes the letdown, yet he also highlights a bright side…

“…More people in this country than ever before know that the Federal Reserve is very, very important, they were responsible for the problems we have and they know that they work in secrecy, the American people want to know about it… what they’re doing is going to be devastating to us because this piece of legislation actually gave more power to the Federal Reserve, not less… we will keep the heat on the Fed until we get an honest monetary system.”

You can see the Hall of Shame video below, as well as a list here, which came to our attention via The Daily Bail.

The Daily Reckoning