Thursday, August 06, 2009

Update on HR 1207/S 604

Dear American,

John 3:20-21 (NKJV) says, “For everyone practicing evil hates the light and does not come to the light, lest his deeds should be exposed. But he who does the truth comes to the light, that his deeds may be clearly seen, that they have been done in God.

This is an update on H.R. 1207, The Federal Reserve Transparency Act. All 178 House Republicans have cosponsored this bill. About 100 House Democrats have also cosponsored it. Even though this almost enough to override a Presidential veto, the Democratic leadership in the House (Nancy Pelosi) and in the banking committee (of which Steve Driehaus is a member) are standing in the way of bringing it to a vote. 20 Senators have cosponsored S. 604, The Federal Reserve Sunshine Act (a bill which is identical to H.R. 1207).

When I wrote to Steve Driehaus about this, he sent back a message saying that he would not support it because he did not want to “politicize” this “independent” institution. (It’s funny that he uses the exact same words as everyone else who opposes this bill.) In reality, what he is saying is that the public does not have the right to know how our tax dollars (and money newly printed by the Federal Reserve) are being spent by a group of people who were not elected by the People. These private bankers (e.g. Goldman Sachs) stand to gain financially by the secret decisions that they are making with our money. There should not even be a Federal Reserve! (The sponsor of H.R. 1207 has written another bill, H.R. 833 which would completely abolish the Fed.) But Barack Obama is calling for even more authority to be given to the Fed to regulate financial transactions and lending.

The following videos are an eye-opener as to what is going on in this Congress concerning this issue.

http://www.youtube.com/watch?v=2_VCy0lMU1g

http://www.youtube.com/watch?v=KIaEjgXZR04

http://www.youtube.com/watch?v=pSRvnXtrmtE

http://www.youtube.com/watch?v=Mj0JAfq4esk

Contact Steve Driehaus at http://driehaus.house.gov and find your Senators at http://www.senate.gov/general/contact_information/senators_cfm.cfm. Tell them that we have a right to know!

Please pass this on!

Sincerely,

Matt