H.R.1207 will give us the ability to monitor for unhealthy inflationary practices on the part of the Federal Reserve Bank and to find out what happened to the TARP giveaway of our stolen taxes.  Plus Congress is required by the Constitution to monitor the Fed and this bill allows Congress to do their jobs, unlike in the past.

The Fed has the ability to destroy the American economy by creating inflation. Giving the public the ability to audit the Fed would give us the ability to monitor whether or not they are doing something harmful.  At least it would give us a better understanding of why they are doing the things they do.

We don’t have visibility to what the Fed did with the TARP funds.  H.R.1207 will show us where the money went.  We’re talking trillions of dollars here.

The TARP giveaway is itself unconstitutional.  I want to know what other crimes are associated with the TARP giveaway.

Congress is charged by the Constitution to regulate commerce.  Specifically “To regulate commerce with foreign nations, and among the several states, and with the Indian tribes.”  The Federal reserve controls the money supply which is the medium for commerce between the states.  The Constitution literally requires that all states use only gold and silver legal tender saying “[No State shall] ]make any Thing but gold and silver Coin a Tender in Payment of Debts.”  If I remember my history correctly, this clause was overrode under the commerce clause because of abuses of gold trading.  We switched from a gold and silver standard to something that could be controlled better.

Congress is responsible for controlling this.  When it allows the Fed to run loose, and doesn’t monitor its activities, Congress is not regulating commerce.

This bill, H.R.1207 is a step in the right direction.  But auditing is something that needs to be done regularly, not just in a specific instance.

Stumble it!