HR 1207 UPDATES "The Federal Reserve Transparency Act"

peaceandlove · 07-10-2009, 06:22 AM

Fed Vice Chairman Tells Ron Paul: "I Agree With You" on Transparency â€” But Don't Audit Us!

Posted by Anthony Gregory on 07/09/09 4:05 PM

VIDEO (7:21): http://www.youtube.com/watch?v=gb6QQ...layer_embedded

Watch Ron Paul's wonderful questioning of Donald Kohn, Vice Chairman of the Fed, at this hearing. He challenges the notion of "Fed Independence" — which really means Fed secrecy and freedom from oversight — and champions the cause of free markets, including in interest rates, rather than the political, centrally planned interest rates that brought on the financial crisis. The Vice Chairman has trouble responding to a trenchant critique, claiming that the Fed has never been more transparent. This is another sign that we are winning. Never before did the Fed's advocates and defenders have to concede that transparency was crucial, and argue that they have moved toward openness. They are trying, of course, to forestall Ron Paul's and our efforts to Audit the Fed. Kohn is even warning that true transparency would lead to higher interest rates, as though this were necessarily a bad thing after years of artificually low rates have brought us to the brink of economic collapse. If that's the only thing they can threaten us with, I say, Please, oh please, don't throw us into the briar patch! One thing we do know: Now that this struggle is getting major media attention, they can no longer ignore our arguments.

VIDEO (7:21): SOURCE and COMMENTS: http://www.campaignforliberty.com/blog.php?view=21516

07-10-2009, 06:22 AM	#11
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 INTRODUCED "The Federal Reserve Transparency Act" Fed Vice Chairman Tells Ron Paul: "I Agree With You" on Transparency â€” But Don't Audit Us! Posted by Anthony Gregory on 07/09/09 4:05 PM VIDEO (7:21): http://www.youtube.com/watch?v=gb6QQ...layer_embedded Watch Ron Paul's wonderful questioning of Donald Kohn, Vice Chairman of the Fed, at this hearing. He challenges the notion of "Fed Independence" — which really means Fed secrecy and freedom from oversight — and champions the cause of free markets, including in interest rates, rather than the political, centrally planned interest rates that brought on the financial crisis. The Vice Chairman has trouble responding to a trenchant critique, claiming that the Fed has never been more transparent. This is another sign that we are winning. Never before did the Fed's advocates and defenders have to concede that transparency was crucial, and argue that they have moved toward openness. They are trying, of course, to forestall Ron Paul's and our efforts to Audit the Fed. Kohn is even warning that true transparency would lead to higher interest rates, as though this were necessarily a bad thing after years of artificually low rates have brought us to the brink of economic collapse. If that's the only thing they can threaten us with, I say, Please, oh please, don't throw us into the briar patch! One thing we do know: Now that this struggle is getting major media attention, they can no longer ignore our arguments. VIDEO (7:21): SOURCE and COMMENTS: http://www.campaignforliberty.com/blog.php?view=21516 Last edited by peaceandlove; 07-10-2009 at 06:24 AM.