----- 
From: Scott Bergeson 
Subject: The Fed on the Defensive - Gary North


http://www.lewrockwell.com/north/north750.html

The Fed on the Defensive
by Gary North <[email protected]>

I do not recall this in my lifetime. A majority
in the House of Representatives has co-signed H.R.
1207, a bill introduced by Ron Paul to have the
Federal Reserve System audited by an independent
government agency, the Comptroller General's office.

The bill has been bottled up in committee by
Barney Frank, who has insisted that he is doing
this in order to better coordinate consideration
of the best way to gain greater transparency
from the Federal Reserve. He has not said that
he favours an independent audit of the FED.
http://www.ronpaul.com/2009-06-17/barney-frank-on-hr-1207-ron-pauls-bill-to-audit-the-federal-reserve/

It would be easy for Congressman Frank to hold
hearings on the bill. This would allow Dr. Paul to
bring in expert witnesses on the FED to make the
case for an independent audit. It would get a lot
of YouTube play. It would be the first time since
the replacement of eccentric Congressman Wright
Patman in 1975 as the chairman of the House Banking
Committee that the FED has been exposed to anything
like serious criticism in Congress. (Patman, an
inflationist and a greenbacker, hated the FED. He
was chairman of the House Banking Committee, 1965-
75.) Congressman Frank has yet to announce hearings.

There was a posting on the http://DailyPaul.com/ site that
Frank will hold hearings soon. Someone heard it on the
radio. I will believe it when I see the YouTube videos.

continues here:
http://www.lewrockwell.com/north/north750.html

====

Barney Frank Says House Will Pass HR1207 in October
http://www.youtube.com/watch?v=J2DX9Iu4wNo
http://www.youtube.com/watch?v=93UXR-kICY4
http://www.youtube.com/watch?v=HEmCiL28Wdw


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