Texas Congressman Ron Paul, the driving force behind HR 1207,
legislation that would see an audit of the Federal Reserve,
joined Alex Jones live on air yesterday to provide a short update
on the progress of the bill.
"I think it's rather amazing," the Congressman
told listeners, "a year or two ago I imagine very few people
even thought about the Federal Reserve."
"But I think because of the economic crisis,
because of the blundering with TARP funds, when the American
people said we need to know what you guys are doing with and
how you're wasting the money, we saw an opening that we could
call attention to about what kind of shenanigans has been going
on at the Federal Reserve." Paul commented.
Reserve Transparency Act now has 279 co-sponsors
in the House and 20 in the Senate, meaning that more than 64%
of the House of Representatives is already co-sponsoring the
"There's a lot more yet to come." Congressman
Paul said. "We need to know what they are doing, that's
why our audit bill is so important, but eventually though we
need a sound monetary system, and I think that if we continue
with our progress, hopefully we'll reach that point some day.
There is strong bipartisan support for the bill
with both Republicans and Democrats getting behind the legislation.
In addition, recent polls conducted by Gallup
have found that a vast majority of the public are suspicious
of the Federal Reserve, with 75% in favour of an audit.
"The new survey finds that an overwhelming
majority of Americans in every demographic category - including
age, gender, political affiliation, race and income - disagree
with Bernanke and favor auditing the Fed to make its secretive
deliberations public." Rasmussen writes.
"The Fed feels so much on the defense that
they send the Chairman of the Federal Reserve Board out to hold
town hall meetings." Congressman Paul told listeners, chuckling.
"That is hilarious."
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Paul spoke of bigger challenges to come.
"The dollar crisis will be a ten times bigger
event than the financial collapse, and then the big deal will
be which way are we going to go. Are we going to say as Americans
that we had a taste of freedom, we want our freedom back? Or
are we going to be complacent and the majority of people say
'yes let the government do whatever they want, they take care
of us, we trust the government'?"
"Right now in Washington everybody is still
pushing more government." Paul told listeners. "Just
look at what Obama is doing with more war, more spending, more
borrowing, more socialized medicine, more cap and trade, more
taxes. But when I go home or go around the country or talk on
radio shows, I find there's not tens of thousands but literally
millions of people who understand exactly what is going on and
they've had enough."
"We have truth on our side, the absurdity
that they can control us forever by just printing money and
claiming that they will always have wealth by printing money
is so absurd that the people realise. Since we have honest money,
truth, limited government and freedom on our side, if we don't
win there's something awfully wrong." Paul said.
The Congressman also warned, however, that the
Obama administration has the wherewithal to use staged events
to their advantage in order to dissolve growing public dissent.
"It may be an accident that they play on
or blow up, or react to, so it doesn't necessarily have to be
absolutely contrived. They may have an accidental confrontation
or sometimes they'll just go out and something gets blown up
and this will incite the people." Paul urged.
"I don't have any immediate insights, but
I'm always on the alert and vigilant... If there isn't enough
fear in the hearts of the people, they will create the fear
because people succumb and they give up their liberties when
they are very fearful." he commented.