On June 30th, 2010 the United States House of Representatives rejected Ron Paul’s Audit the Fed measure by a vote of 198 to 229. The audit was included in a motion to send the Dodd-Frank Fed Empowerment Act (H.R. 4173), i.e. the Financial Regulatory Bill, back to committee.
If Congressman Paul’s measure had passed, the Financial Regulatory Bill would have included a thorough audit of the Fed. Instead, the Fed is empowered to an even greater extent.
Zach Wamp, the Republican who has represented Tennessee’s 3rd Congressional District for the last 15 years, was a co-sponsor of Congressman Paul’s original Audit the Fed Bill (H.R. 1207). In addition, he is listed as a member of Congressman Paul’s Liberty Caucus.
But despite his co-sponsorship of the audit bill, Congressman Wamp chose not to vote in what was undoubtedly the most important vote of his career. By using that tactic he gets political cover from being a co-sponsor, but pleases his Republican and Central Bank masters by not voting for it.
Congressman Wamp has not given a reason for his refusal to vote that I have seen, but I suppose that reason would be listed as something like “in Tennessee campaigning for Governor.” Well, if that is the reason, as they might say in the 3rd District, that old dog won’t hunt any more.
He doesn’t get paid to be a candidate, he gets paid to represent the 3rd District; and besides, his hypocrisy can’t be rewarded with success in the Republican Primary. If Congressman Wamp wins the Republican primary, the message Tennessee Republicans will have sent is “we reward your duplicitous, hypocritical conduct.”
Why is it import to audit the Federal Reserve? Because the Federal Reserve (Fed) is a private, not a public, institution that has power over the American monetary system to the extent that it can create money, loan it to the federal government, and then require us to pay that loan back with interest.
Our history as a nation revolves around Fed’s action for the last 100 years. The debt and currency problems that we are having right now can be laid right at the feet of the Fed. The 60-year credit expansion and resulting collapse of the banking system with its recession and unemployment can be laid right at the feet of the Fed.
How presumptuous of us, then, to demand that the Fed tell us what it has done with trillions of our dollars.
Do we dare ask the Fed how much of our gold it actually has, and what it did with the rest?
No, says the House of Representatives, you have no right to do that. Zach Wamp says, I have no opinion on that.
Well, I suggest that this August, Republicans send Congressman Wamp a clear message that his refusal to put the State of Tennessee and its people before the central bankers is not appreciated.
- Darrell Castle