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« President Obama's Budget Cuts Visualized (Video) | Main | Afternoon Links: The Joseph Cassano Edition (July 7, 2009) »
Tuesday
Jul072009

Senate Democratic Leadership Blocks Bill To Audit The Fed (Clip)

Senator Jim DeMint Gets Shut Down By Democratic Leadership

I try to remain non-partisan, but this is an issue where the Republicans are categorically and procedurally correct, and the Democrats are protecting the Federal Reserve and specifically its Mephistophelean pile of maggot shit for a balance sheet.

This is debate from the Senate floor yesterday on S 604 Bernie Sanders companion bill to Ron Paul's HR 1207, to audit the Federal Reserve.  Learn how Senate Democrats flagrantly abused Rule 16 to block an audit of the Federal Reserve.  Bastard politicians.  Kindly, go f**k yourselves.

Contact Your Senator Now

There's more....keep watching.  The exchange includes Democratic Senator Ben Nelson.

    

Please email this story to a few friends.  This is one we need to disseminate far and wide.

 

Details from Reuters:

The U.S. Federal Reserve, facing growing pressure as it tries to heal the ailing economy, dodged a bullet on Monday when the U.S. Senate cast aside a new effort to increase scrutiny of the central bank.

On procedural grounds, the Senate blocked a bid to permit the U.S. comptroller general, who heads the investigative arm of Congress known as the Government Accountability Office, to audit the Federal Reserve system and issue a report.

Republican Senator Jim DeMint, who has been pushing for greater transparency at the Fed, failed to get the provision attached to the must-pass annual spending bill that includes funding for the GAO for the upcoming 2010 fiscal year.

The audit would have included details about the Fed's discount window operations, funding facilities, open market operations and agreements with foreign central banks and governments, DeMint said on the Senate floor.

"The Federal Reserve will create and disburse trillions of dollars in response to our current financial crisis," DeMint said. "Americans across the nation, regardless of their opinion on the bailout, want to know where the money has gone.

"Allowing the Fed to operate our nation's monetary system in almost complete secrecy leads to abuse, inflation and a lower quality of life," he said.

Democrats who control the Senate blocked the South Carolina Republican's amendment on the grounds that it violated rules prohibiting legislation attached to spending bills.

Fed officials were not immediately available to comment.

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Reader Comments (8)

The Federal Mafia wants no accountability.......you pay...they play.
Jul 7, 2009 at 5:02 PM | Unregistered CommenterAin't Bullshittin'
Translated...bill was "steam rolled" by those in control....
Jul 7, 2009 at 5:13 PM | Unregistered CommenterAin't Bullshittin'
I agree with your attitude towards this.
Jul 7, 2009 at 5:41 PM | Unregistered CommenterC
From the Horse's Mouth

http://www.calculatedriskblog.com/


This is an interesting interview from early this morning with Bryan Marsal, CEO of Lehman Brothers Holdings, who is unwinding Lehman Brothers ... especially at the 18 minute mark:

One of my partners said yesterday that we are going to call this phase the "extend and pretend" phase in our economy. Which is you extend someone's maturity - because they are going to default - and you pretend that business will come back or that leverage factor is going to come back.

Then we'll enter phase two, which he said is the request to extend or "amend".

Then "send". In other words send the keys.

That is the phases we are in right now. Everyone is trying to buy time, as opposed to dealing with the leverage, they are trying to buy time. Whether you are a banker or a company, they are all trying to buy time. I don't see the leverage coming back, and I don't see the consumption of good and services coming back.
Bryan Marsal, CEO of Lehman Brothers Holdings.


Well...at least honesty is creeping back into the market...somewhere....AB
Jul 7, 2009 at 7:04 PM | Unregistered CommenterAin't Bullshittin'
If Bernanke ever allowed Obama and his minions in Congress to audit of the Fed, he would get the Group of Thirty to do it.

“Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions.” Machiavelli

This one’s for you DailyBail…

“Fascism is capitalism in decay.” Vladimir Lenin
Jul 7, 2009 at 7:11 PM | Unregistered Commentergobias bluth
The Fed will see to it that the proper amount of campaign contributions will be dispersed to whomever it needs to of either party to prevent this from happening.

And then promotions, accolades and bonuses will abound.


"Think of the press as a great keyboard on which the government can play."
-- Joseph Goebbels, Nazi Propaganda Minister.

"Capitalism is Man Exploiting Man;
Communism is just the opposite."
-- Old East Block Joke

"How fortunate for governments that the people they administer don't think."
-- Adolf Hitler.
Jul 9, 2009 at 1:53 PM | Unregistered CommenterS. Gompers
The Fed will do anything to stop us from an audit, unfortunately we cannot afford to be stopped we have nothing to lose, we need our country and home back and Auditting the Fed is a good place to start!
It is simple, really — the larger the debt, the richer and more powerful the international bankers become. The Federal Reserve is their front organization and it runs roughshod over Congress.

The passage of HR 1207 is not certain and it faces an even more strenuous uphill battle in the Senate. It is, at this point, our only practical hope of auditing the Fed, revealing its numerous crimes, exposing its mega-grand theft scams, and delivering Donald Kohn, his boss Bernanke, and the minions of the international banksters to justice.

SEND A LETTER, TELEPHONE OR VISIT YOUR CONGRESSMAN AND SENATORS INSTANTLY: http://www.campaignforliberty.com/campaigns/hr1207home.php
Jul 13, 2009 at 3:40 PM | Unregistered CommenterPaul Revere
@Paul Revere

I will include your link in an upcoming story.
Jul 14, 2009 at 2:28 AM | Registered CommenterDailyBail

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