Rep. Ron Paul (R-Tx) is not known for his legislative successes, but Wednesday, he got one.
H.R. 459 is the Federal Reserve Transparency Act allows for a full audit of the Federal Reserve, including an audit of the Fed’s monetary policy decision. It’s Paul’s signature piece of legislation and it passed the House in a bipartisan 327-98 vote. The bill had 270 co-sponsors and marks a victory in what is likely the waning of Paul’s legislative service.
Paul has crusaded against the Fed for decades, arguing that the Fed’s power to create money has devalued the dollar and left Americans more vulnerable to market bubbles. Ultimately Paul would love to see the eradication of the Fed. But that’s not happening anytime soon in Congress, so for now, transparency is going to have to do. Cont. Reading
No comments:
Post a Comment