Sunday, July 22, 2012

Ron Paul`s `audit the Fed` bill coming up Tuesday -

Ron Paul`s `audit the Fed` bill coming up Tuesday - POLITICAL ECONOMY - Tim Ahmann & Donna Smith:

July 21, 2012 - "The House of Representatives is expected to vote on Tuesday on a bill that would allow for a congressional audit of Federal Reserve monetary policy decisions.... The legislation proposed by Republican Representative Ron Paul, a long-time critic of the U.S. central bank and author of the book "End the Fed," has already gathered 274 co-sponsors, virtually guaranteeing passage.

"The Republican-led House will consider the bill under a fast-track procedure that requires a two-thirds majority, but nearly two-thirds of the House has already signed onto the bill.... Paul's son, Republican Senator Rand Paul, has introduced a companion bill in the Democrat-controlled Senate, but chances of success are remote given a less critical view of the central bank in that chamber."

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