Banksters Win Again – “Audit the Fed” Bill Fails in the Senate

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bankers

When it comes to the Fed, Congress is mired in hypocrisy. The anti-regulation, de-regulation crowd on Capitol Hill shuts its mouth when it comes to the most powerful regulators of all – you and the Federal Reserve. Meanwhile, Congress goes along with the out-of-control, private government of the Fed—unaccountable to the national legislature. Moreover, your massive monetary injections scarcely led to any jobs on the ground, other than stock and bond processors.

– From the post: Ralph Nader Destroys the Federal Reserve in Open Letter – Calls it “Out of Control, Private Government”

Rand Paul’s signature “Audit the Fed” legislation failed to garner the 60 votes needed in the Senate to move the measure forward. Of course, this is merely the latest in a never-ending series of banker victories, and a truly devastating blow against liberty, free markets, transparency and any hope for government by the people and for the people. Ensuring that light is never shined on the Fed’s shady, corrupt and unaccountable bailout activities has always been a key goal of the American oligarchy, and they succeeded once again.

Kudos to Rand Paul for trying, and respect to Democrat Bernie Sanders for voting in favor. Elizabeth Warren voting against is inexplicable and indefensible.

More from MarketWatch:

WASHINGTON (MarketWatch) — A bill that would have allowed Congress to order reviews of Federal Reserve interest-rate policy decisions failed a procedural test in the Senate on Tuesday as supporters failed to come up with the 60 votes needed to cut off debate on the measures.

The measure to curb the powers of the Fed has been a central theme of the presidential campaign of Sen. Rand Paul, a Republican from Kentucky. The legislation would end a ban on the Government Accountability Office’s authority to audit the U.S. central bank’s monetary policy moves that has been in place since 1978. The Republican House has already approved the measure.

The bill was designed to “pull back the curtain and uncover the cloak of secrecy” at the Fed, Paul said on the Senate floor. He said there had not been a full accounting for the swelling of the Fed’s balance sheet — to $4.5 trillion from roughly $800 billion before the financial crisis.

Just 53 senators voted to halt debate on the bill Tuesday. Sixty or more votes for “cloture” would have paved the way for possible final passage of the bill.

The bulk of the opposition to the measure came from Democrats.

Because supporting an unelected, unaccountable bank cartel is so liberal.

Sen. Sherrod Brown, an Ohio Democrat, who is ranking member on the Senate Banking Committee, said Congress should “keep its hands out of monetary policy.”

Fed Chairwoman Janet Yellen called the bill “a grave mistake” and warned the measure could lead to higher market interest rates.

Democratic presidential candidate Bernie Sanders, an independent senator from Vermont, voted for the measure.

Now here’s how the Senate voted:

Screen Shot 2016-01-12 at 2.06.15 PM

Par for the course in…

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  • NonYo Business

    Is it clear who the enemy is yet? All the Nay and Not Voting scum above.

  • Mike

    demonrat obstructionists.

  • Donna

    We have a government

    of the special interest

    by the special interest

    & for the special interest

    the people are nothing but taxable serfs & most dont have a clue

    • http://groups.yahoo.com/neo/groups/political_reading_room/ disqus_3BrONUAJno

      It will be different when they don’t have anything to tax anymore.

      • Donna

        LOL good one & true

        • http://groups.yahoo.com/neo/groups/political_reading_room/ disqus_3BrONUAJno

          Then they can figure out how to convince us to feed them, if we can feed ourselves.

  • http://groups.yahoo.com/neo/groups/political_reading_room/ disqus_3BrONUAJno

    Elizabeth Warren is inexplicable and indefensible.

    • paulgilpin

      you didn’t write that.

      • http://groups.yahoo.com/neo/groups/political_reading_room/ disqus_3BrONUAJno

        I certainly didn’t. I did copy, edit, and paste it, though.

  • doucyet

    Digits on a screen. The US dollar will play out as all fiat currencies have, then the big reset comes…………

  • Another Thought Criminal

    Anyone surprised the corrupt system isn’t trying to end the corruption?

  • Razedbywolvs

    OMFG one of them went against the party line. Senator Tammy Baldwin (D-WI).

  • paulgilpin

    cruz not voting.
    i’ll remember that going forward every time i’m criticized for bring up his wife’s (former) occupation. if it is former?

  • HBD

    They’re not going to audit themselves.

  • ahuxley

    “…Elizabeth Warren voting against is inexplicable and indefensible…”
    INEXPLICABLE…?
    NO.
    She was probably offered a deal she COULDN’T refuse…

  • Reverend Draco

    Sen. Sherrod Brown, an Ohio Democrat, who is ranking member on the
    Senate Banking Committee, said Congress should “keep its hands out of
    monetary policy.”

    Except that “monetary policy” is one of the very few jobs assigned to Congress by the Constitution.

    Seems that someone who has no idea what their job is, should no longer have that job – time to step down, Sherrod.

  • RandyJ/ProudSurvivor

    We all knew this was going nowhere. Still, I like knowing who voted against it. It may provide the People with a “database” of traitors down the road.

  • Guillotine_ready

    Sure lets send the government to deal with its own corruption, gotta work out well. Even though the fed is not federal send a corrupt bunch of career criminals to do something about it is just stupid. The people have to be ones to bring the consequences and keep on bringing them from now on.