End the Fed Update--Federal Reserve Accountability Act

Titans of Wall Street and Federal Reserve Behind New Senate Bill?

Senators Jeff Merkley (D-OR) and Bob Corker (R-TN) have introduced the Federal Reserve Accountability Act. The new Bill purports to require an audit the Federal Reserve. However, Corker's Bill waters down Representative Ron Paul's (R Tex) simple plan, and an already pending Senate Bill. See Senators craft dumbed-down Federal Reserve audit bill.

In the video below, Ron Paul addresses the new Senate Bill and speculates that the Wall Street power brokers and Federal Reserve are behind the Senators cosponsoring new Bill. He calls them "friends of Wall Street." He says the Senate Bill is an attempt to obstruct. Paul states he will resist the Senate Bill.

The Senate Bill excludes important areas from the Audit and permits the Federal Reserve to continue to operate in secret, particularly in its dealings with foreign central banks and foreign governments. It also permits the Federal Reserve to "white out" names of banks and people with whom it is dealing.

Senate Bill 604 (S 604), a proposed law that tracks Paul's companion Bill in the House (H.R.1207), is cosponsored by 30 Senators including South Carolina Senators Jim DeMint and Lindsey Graham.

Representative Paul also addresses South Carolina Senator Lindsey Graham's claim Paul is attempting to "hijack" the Republican Party.