I received a press release from the Libertarian Party of Kansas announcing their support for legislation introduced by U.S. Representative Ron Paul that would “audit the centralized/privatized banks that make up the Federal Reserve System.”
“The secretive FR [Federal Reserve] is a monetary oligarchy and an unelected monopoly that has control of credit, interest, volume and value of our currency. Until the people regain control of their money, bankers and not the government, will control the situation and our property,” says Al Terwelp, Vice Chair of the Libertarian Party of Kansas. “We must have the ability to search for the truth in FR practices and once it is found only then can we exercise justice for all. Without openness, our Republic’s existence is in jeopardy, for every dollar, every citizen, every issue of monetary, social and foreign policy is connected to the hegemony that is the Federal Reserve.”
Personally, I find that most people have no idea of what the Federal Reserve does, or that it creates money out of thin air. It doesn’t even have to print it, as all it has to do is make some computerized ledger entries, and there’s new some money.
Rep. Paul’s bill that would requre the audit of the Fed, HR 1207, has 237 co-sponsors in the House, including Kansas’ Tiahrt, Moran, and Jenkins. Rep. Dennis Moore of Johnson County is not a sponsor.
Rep. Paul has a resource page with much information about the legislation and the need for it at Audit the Federal Reserve: HR 1207 and S 604.