In a move that will surely have the Magnificent Idiot who runs LGF 1.0’s head exploding, conservative South Carolina Senator Jim DeMint has signed onto the movement in Congress to audit the federal reserve.
With well over 230 co-sponsors on both sides of the aisle in the House of Representatives, Texas Congressman Ron Paul’s effort to force an audit of the Federal Reserve is being led in the Senate by none other than South Carolina conservative Sen. Jim DeMint.
Last month, DeMint became the first Republican senator to support Senate Bill 604, the Federal Reserve Sunshine Act of 2009, and since then has talked extensively on radio and television about the importance of transparency with regard to the Fed. Yesterday, however, he took it a step further, attempting to attach the full text of S. 604 as an amendment to an appropriations bill, but the effort was blocked by Democratic Party leadership in the Senate, which refused to even allow a vote on the amendment.
Such a refusal was rationalized by the argument that DeMint was essentially attempting to legislate on an appropriations bill, a no-no which violates Senate Rule 16, which governs appropriations and amendments to general appropriations bills. DeMint, however, did not waver. He was prepared with a list of several other similar Government Accountability Office audits contained in the appropriations bill, rattled them off one-by-one, and pointed out that using the same argument advanced and embraced by Senate Democratic leadership moments earlier, each and every one of the GAO audits would also run afoul of Senate Rule 16.
By doing so, he forced Senate Democrats to essentially acknowledge that their objection to the amendment was not at all about procedure or Senate rules, but rather about an overt refusal to permit an audit of the organization so graciously and mysteriously assisting the elected left with the advancement of their agenda.
The Federal Reserve has failed to account for nine trillion dollars–that’s $9,000,000,000,000, or approximately $30,000 for every single living man, woman and child–but has never in its history been subject to an audit.
The American people deserve to know what’s going on, and how this opaque institution has squandered our currency and our future. I am delighted to know that Jim DeMint is spearheading this effort in the Senate, and I hope that Republicans ensure that the very same amendment is proposed alongside each and every piece of legislation possible until it is passed.
Click the link to see the video of Sen. DeMint on the floor of the Senate blasting the Democrats on this!
Now, I’m not a big fan of Ron Paul in the least. I tend to look upon him as a largely benign whacko who keeps to himself mostly, but occasionally has an outburst that makes you wonder who forgot to put the padlock back on his door down in the basement. Like he’s America’s Crazy Uncle, if you will. On this issue, however, Ron Paul is absolutely, positively, dead-aim on the money, and I’m glad to see that this movement is actually gaining steam in our legislature. It’s past time that the Fed was audited, and held accountable for the damage that it has systematically done to the US economy and the US dollar through its profligate monetary policy.
Of course, Charles over at 1.0 is sure to try to make hay of this, but I would really like to ask him: what rational person wouldn’t be in favour of auditing the Federal Reserve? I mean, come on, the blasted thing is only America’s central bank, responsible for things like setting our interest rates, controlling the money supply, and influencing the rate of inflationary devaluation of our currency. What right-minded person doesn’t think that a standing triennial audit of the Fed would simply be sound fiscal and public policy? After all, the IRS can audit you and I for things a lot less shady than what the Fed routinely does with our money supply. Why shouldn’t the Fed be held to at least some regulatory oversight?
