Sunday, September 16, 2012

Alaska U.S. Senators Lisa Murkowski And Mark Begich Among 32 Co-Sponsors Of S.202 To Audit The Fed

On January 26th, 2011, Senator Rand Paul (R-KY) introduced the Federal Reserve Transparency Act of 2011. Designated S.202, its primary purpose was to require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States before the end of 2012. Howver, after introduction, it was promptly buried in the Committee on Banking, Housing, and Urban Affairs.

Nevertheless, there have been a steady trickle of senators who've decided to attach their names as co-sponsors. The list of 32 co-sponsors to date includes both Alaska Senators Lisa Murkowski and Mark Begich; Begich is the only Democrat on the list. Mudflats recorded Begich's explanation:

“I have long been an advocate for transparency in government in general and the Federal Reserve in particular...I believe in the independence and dual mandate of the Federal Reserve to control inflation and lower unemployment, but its actions should not be shrouded in mystery. The American people have a right to understand the inner workings of their central bank.”

It's unlikely that Begich's action will trigger a stampede of Democrats to co-sponsor S.202, but one commenter to the Daily Paul noted that Senator Maria Cantwell (D-WA) supported similar legislation in 2010. Senate Majority Leader Harry Reid (D-NV) previously has been receptive to the idea as well.

It is certainly a welcome development to see both of Alaska's senators of different political parties supporting legislation to promote greater accountability by the Federal Reserve. The Federal Reserve has acted like a law unto itself for far too long now. This may explain why the House version of this bill, H.R.459, passed with a landslide 327-98 vote on July 25th, 2012. Alaska Congressman Don Young not only voted for the bill, but was also one of 274 co-sponsors.

Congressman Ron Paul (R-TX), who authored H.R.459, has long sought to dismantle the Federal Reserve based on arguments that the Fed's power to create money has devalued the dollar. He also maintains the Fed hurts Americans by making them vulnerable to Fed-induced housing and stock market bubbles, and more recently, that the Fed reacted to the recession by creating billions of dollars to bail out financial institutions.

Ron Paul hasn't let up, either. In response to an announcement by the Federal Reserve on September 13th that it is is launching its third attempt to revive the U.S. economy by printing more money (referred to as Quantitative Easing III or QE3), Paul said, in part, ..."this latest decision to provide more quantitative easing will only prolong our economic stagnation, corrupt market signals, and encourage even more misallocation and malinvestment of resources. Rather than stimulating a real recovery by focusing on a strong dollar and market interest rates, the Fed’s announcement today shows a disastrous detachment from reality on the part of our central bank. Any further quantitative easing from the Fed, in whatever form, will only make our next economic crash that much more serious”.

Contact information for all U.S. Senators is available HERE, whether you want to thank them for co-sponsoring the bill, or prod them into adding their names to the list.


  1. Government is no longer government as we know it. It is a monopoly of no equal networked through private association in most part started by the government players to circumvent monopoly laws and regulations government itself was subject to as enacted by our fore-father designed to limit government control and take-over of it all. The Federal Reserve was one of these first private associations established with that intent of monopoly in mind from the get-go.

    In the political arena, other "private associations" established were the Democratic and Republican party; council of city managers / governors / county managers. Look and you will find them. All networking together with one common theme and agenda: Controlling the massive global wealth for transfer and management to their members from all others across the globe. Price fixing; market manipulations; property transfer; population management; taxation drain; contract assignments; and all policy that effects the before-mentioned. Again said; with the intent of wealth transfer to their gang of internal players.

    Almost exclusively these gangs of Private associations were created and are maintained to facilitate the organized wealth transfer of the population into the hands of the collective of government in combination with the financial / industrial complex. The "wizard(s) of OZ behind the curtain".


  2. Government and the financial / industrial complex has been teamed up together for over a thousand years to utilize the population as a productivity resource to be drained and managed. This circumstance never was a good thing, nor will it ever be a good thing.