Audit the Fed Archives | Restoring Liberty

Cruz Backs Paul’s Strategy for Audit the Fed Vote

November 14, 2013/2 Comments/in Featured, News /by Niels Lesniewski

Photo Credit: Douglas Graham/CQ Roll Call File PhotoSen. Ted Cruz announced Wednesday that he is backing an effort by fellow Republican Rand Paul of Kentucky to get a vote on auditing the Federal Reserve as a condition for considering the nomination of Janet L. Yellen to be chairwoman of the Fed.

“I agree with Rand Paul: before the Senate votes on whether to confirm Janet Yellen, we should at the very least allow a vote on the Audit the Fed bill,” the Texas Republican said in a statement. “The Federal Reserve has expanded our money supply by trillions, benefiting Wall Street but making life harder for millions of Americans struggling to make ends meet.”

Paul and Cruz cannot block Yellen’s confirmation because Senate supporters could work around them with a cloture vote to limit debate and avert a possible filibuster.

Rand Paul: Audit the Fed

February 6, 2013/3 Comments/in Featured, News /by Ginger Gibson

Photo Credit: Gage SkidmoreFollowing his father’s crusade, Sen. Rand Paul (R-Ky.) has refiled legislation that would require an expansive audit of the Federal Reserve.

The proposed audit of the bank that oversees the nation’s monetary system has been a longtime crusade of Ron Paul and became a banner issue during his unsuccessful 2012 presidential campaign. He argued that the Fed was responsible for manipulating currency and damaging the economy. Ron Paul was able to persuade Mitt Romney and Newt Gingrich to also support an audit.

The audit has become a rallying cry for Ron Paul’s supporters and seen more public support since it was made a central part of his 2012 race.

Rep. Paul Broun (R-Ga.) has filed the companion legislation in the House, replacing Ron Paul as the lead sponsor.

House passes Ron Paul’s ‘Audit the Fed’ bill; Bernanke calls it a “nightmare scenario”

July 26, 2012/2 Comments/in Featured, News /by Stephen Dinan

In a move that serves as a capstone to Rep. Ron Paul’s colorful career, the House on Wednesday voted to have Congress‘ chief investigators conduct a full audit of the Federal Reserve’s shrouded decision-making process.

The overwhelming 327-98 vote sends the measure to the Senate, where Majority Leader Harry Reid, Nevada Democrat, at one time expressed support for an audit — though he reportedly has changed his mind.

House passage already marks a high-water mark for those who for years have been pushing for an audit, led by Mr. Paul. The Texan rode the slogan “Audit the Fed” to prominence in two Republican presidential primary campaigns, and he said the bill is a chance for Congress to begin to reclaim the money and banking powers it is given in the Constitution, but had delegated to the Fed.

“It is up to us to reassert ourselves,” Mr. Paul said during floor debate Tuesday.

Fed Chairman Ben S. Bernanke doesn’t like the prospect of such a broad audit, calling it a “nightmare scenario” last week and saying it would lead to politicians second-guessing his decisions.

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