Today, both of my state senators (Pennsylvania) effectively voted against the full audit for the Federal Reserve. Their alternative allows the Federal Reserve, a private bank, to remain largely unaccountable for their woeful mismanagement of money and destructive manipulation of the economy – even while they appear to vote for an (incomplete) audit.

If you write to them expressing your displeasure at their decision, please also insist they vote against Senator Dodd's Restoring American Financial Stability Act (S. 3217), which actually increases the Federal Reserve’s powers. Attached is the contact information for both senators as well as the official press release from the Campaign for Liberty, which has rallied support for the Audit the Fed movement.

Sen. Robert Casey
393 Russell Senate Office Building
Washington, DC 20510
(202) 224-6324

Sen. Arlen Specter
711 Hart Senate Office Building
Washington, DC 20510
(202) 224-4254

Full Fed Audit Amendment Voted Down in Senate

Washington, D.C., May 11, 2010 - Today, the U.S. Senate voted 62 to 37 against an amendment to allow greater transparency at the Federal Reserve.

This amendment was introduced to counter a weaker amendment that would have required only a one time audit just of Fed emergency programs. The new amendment was similar to the original H.R. 1207 audit bill introduced by Congressman Ron Paul and added to the House financial reform package.

"The Sanders Amendment is no substitute for a complete and thorough audit of the Fed," said John Tate, President of Campaign for Liberty. "With this vote, we now have a record of those who really want transparency and those who only pay lip-service to it while upholding the status quo."

If the entire financial regulation bill makes it out of the Senate, it heads to the House, where House Financial Services Committee Chairman Barney Frank will choose which version to move forward on.

“The Dodd bill itself is just another bad piece of legislation, which will benefit no one except the Fed and its friends at big banks,” said Tate. “It institutionalizes bailouts for banks and subsidizes risky financial decisions.”

"Despite what happens with the financial regulation bill, we will continue pushing Congress for an up or down vote on H.R. 1207, which is the only full audit to allow true transparency in our financial system.”

Back on Blogger

The introductory post:

I am once more "shouting to the void" of cyberspace - not to be confused with "crying in the wilderness" - though my message today calls to repentance and belief.

I read this AP news story on the Federal Reserve after school today and heard the tramp of doom. It seems the federal government is deliberately trying to destroy our nation.

[I have begun imagining Mr. McCain, Mrs. Clinton, and Mr. Obama as competing for the privilege of handing over the keys to the country to the UN - or some other "one-world-government" organization. Perhaps Mr. Bush is even trying to hurry the process, hoping things will collapse before his time in office is done.]

Conspiracy theory aside, giving the Fed more power seems a recipe for disaster. I don't deny things economically are in a fix - more than I know, I'm sure. But giving more power to an organization that controls money cannot be done lightly. If the hope is to shore things up so folks won't feel the consequences of foolish and greedy choices, then it's bound to fail - and better sooner than later. Has top-down manipulation (of anything) ever brought healthy results? Does the free market still exist? Won't those who are ethical and wise eventually prevail against those who are unscrupulous and blind? Call me an idealist...

Repent: turn from hope in big government.
Believe: find hope in the wisdom and justice of Jesus Christ. His rule over individuals is the only remedy for national disaster.