Wednesday, March 04, 2009

Ron Paul wants transparency at The Fed

Ron Paul offers his opening remarks on his most recent bill:

Madam Speaker, I rise to introduce the Federal Reserve Transparency Act. Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve's loose monetary policy. How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation...

With Democrats, such as Senator Bernie Sanders, calling for more transparency... I hope President Obama sees the wisdom of his pre-Chief Executive days and supports Congressman Paul's new bill with continued support for greater transparency in government.

Tim White

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