HR 1207 Full Financial Services Committee

[e_goldstein]

hearing tomorrow, September 25th, at 9 am Eastern.

http://www.house.gov/apps/list/heari...r_092509.shtml

End the Fed, end central banking, restore sound money to the people.

[dcarrigg]

Re: HR 1207 Full Financial Services Committee

This thing's got legs:

H.R.1207
Title: To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.
Sponsor: Rep Paul, Ron [TX-14] (introduced 2/26/2009) Cosponsors (294)
Related Bills: S.604
Latest Major Action: 2/26/2009 Referred to House committee. Status: Referred to the House Committee on Financial Services.
COSPONSORS(294),

ALPHABETICAL LIST
\\

[Chris Coles]

Re: HR 1207 Full Financial Services Committee

This Bill, H.R. 1207 has all the potential to bring about a complete change of direction with regard to the information we receive about the actions of the Fed. Right on!

[Slimprofits]

Re: HR 1207 Full Financial Services Committee

It's not the actions taken by the Fed that cause these things, it's oversight of the Fed.

Rolling out the big threats...

http://blogs.wsj.com/economics/2009/...netary-policy/

“These concerns likely would increase inflation fears and market interest rates and, ultimately, damage economic stability and job creation,” Alvarez said in the prepared remarks for the House Financial Services Committee hearing.

[..]

“Foreign central banks and governments likely would be less willing to engage in financial transactions with the Federal Reserve if these transactions were subject to policy review by the GAO,” he said.

[GeraldRiggs]

Re: HR 1207 Full Financial Services Committee

This thing's got legs:

H.R.1207
Title: To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.
Sponsor: Rep Paul, Ron [TX-14] (introduced 2/26/2009) Cosponsors (294)
Related Bills: S.604
Latest Major Action: 2/26/2009 Referred to House committee. Status: Referred to the House Committee on Financial Services.
COSPONSORS(294),

ALPHABETICAL LIST
\\

Guys:

I don't post as often as I should due to time constraints. However, I hope you don't think HR 1207 is going to pass the house , senate, and then be signed by Barrack "milktoast" Obama without a serious re-write (read watered down to the point of waste of time) or a major market correction to show Obama what will happen if he does.

Remember Nicholas Biddle with the Second Bank of the US in the book Creature from Jekyll Island? When Jackson pulled the US' money supply from the bank Biddle crashed the economy and tried to pin it on Jackson.

I think something similar could happen here. The oligarchs will not go quietly. One call to Goldman and he markets turn ugly fast.

Don't get me wrong, I hope it does pass and the fed gets what is coming to 'em. I just don't think it will happen with the current legislators we have. Remember TARP and he martial law scare?

[ThePythonicCow]

Re: HR 1207 Full Financial Services Committee

One call to Goldman and he markets turn ugly fast.

But Goldman is just one trading desk; they couldn't make much of a difference :rolleyes:.

(Good point, GeraldRiggs. I hope you post more often.)

P.S. -- My recollection is that Mr. Bernanke essentially warned us of just such market crises, in a thinly veiled fashion, when asked his view of such audits.

[seanm123]

Re: HR 1207 Full Financial Services Committee

Wait till the next Rep, Alan Grayon video comes out from today's Financial Services Hearing.

He blasted the FED lawyer on Gold manipulation, asked him if the gold reserves exist, Fed Front Running of Trades, and Stock market manipulation.

Good Stuff. Too bad no coverage on CNBC...

[mikedev10]

Re: HR 1207 Full Financial Services Committee

i heard grayson, paul, woods all got in good quips. some guy royce or something too? and mises mentioned a few times. this work thing is in the way, eagerly awaiting videos!

[audrey_girl]

Re: HR 1207 Full Financial Services Committee

grayson:

[Chris Coles]

Re: HR 1207 Full Financial Services Committee

Thank you Audrey. The last answer was very illuminating; most of the trillion bucks were spent on purchasing government paper...... Talk about brushing the problem under the carpet.

[Spartacus]

Re: HR 1207 Full Financial Services Committee

[..]

“Foreign central banks and governments likely would be less willing to engage in financial transactions with the Federal Reserve if these transactions were subject to policy review by the GAO,” he said.[/I]

OOOOhhhh !!!!!!!!!!!!!(slap head dramatically)
I misunderstood !!!!!!!!
he means it's a BAD thing!!!!!!!!!!

[raja]

Re: HR 1207 Full Financial Services Committee

I thought highly of prior Grayson questioning from brief video clips I've seen posted, but in this instance he is bullying the man unnecessarily, IMO. I believe his attitude is hurting him and his (our?) cause . . . .

[swgprop]

Re: HR 1207 Full Financial Services Committee

I thought highly of prior Grayson questioning from brief video clips I've seen posted, but in this instance he is bullying the man unnecessarily, IMO. I believe his attitude is hurting him and his (our?) cause . . . .

Invariably I can only watch a few minutes of congressional hearings, they are just vomit-inducing episodes of self-promoting bluster, pomp and pageantry.

I agree that Grayson is guilty of bullying. But the recipient is from the Fed. He deserves it. F*ck him.

[MulaMan]

Re: HR 1207 Full Financial Services Committee

bullying? Yes, ideally I'd prefer a congressman that walks into to the Fed with a bucket of tar and feathers

[ricket]

Re: HR 1207 Full Financial Services Committee

I thought highly of prior Grayson questioning from brief video clips I've seen posted, but in this instance he is bullying the man unnecessarily, IMO. I believe his attitude is hurting him and his (our?) cause . . . .

He's lucky it's not me asking questions. It would only take me 30 seconds before I jumped across the table and began strangling this man for lying about the very tenet of which holds our society together.

Evil in its purest form. The traitors in control of our money deserve capital punishment.