RON PAUL'S Federal Reserve Transparency Act is up to 207 co-sponsors, close to a majority!

[link to www.nolanchart.com]

This February, Congressman Ron Paul (R-TX) introduced HR 1207, the Federal Reserve Transparency Act of 2009 to audit the FED. When I first reported on it in March, privately I was quite ecstatic that there were 11 co-sponsors, and three were Democrats. Why?

Well, Dr. Paul has tried for some time to audit and limit, even abolish, the Federal Reserve. The hallmarks of Dr. Paul's twenty years in Congress are common sense bills that have been mostly ignored as our past Congresses and the Federal Reserve led us down the path to economic ruin. However, what happened next in the House is amazing - HR 1207 now has 207 co-sponsors, close to a majority!

The big picture is that it only takes half a brain and a pulse to get angry about the fact that the central bankers gave the American people the equivalent of a middle finger on Bloomberg's Freedom of Information Act request. The FED denied to disclose how they used $2 trillion dollars in open market operations that they executed outside of Congressional authority. Congress has no clue or control over how the FED used the money since that is not how the FED works. Without an audit, Congress does not even know how much gold our nation owns. Who wants to be on the "No" side with all of the popular sentiment against it?