Congressman Wright Patman attempted to investigate the Federal Reserve. He introduced a bill which would have authorized a full and independent audit of the System by the General Accounting Office. Patman claimed that the audit was essential to give the public’s elected representatives complete and accurate information on the internal operations of the System, SINCE THEY HAD NOT BEEN AUDITED SINCE THEIR INCEPTION IN 1913.

Patman was frankly astonished by the opposition to his bill. He wrote: “Although I had anticipated that officials of the Federal Reserve System would vigorously oppose my bill, I am frankly amazed by the massive lobbying campaign now underway, to prevent enactment of the measure. This itself is further proof, if any is needed, that a thorough and independent audit…is an absolute necessity in the public interest.”

Wright Patman (1893-1976) was a DEMOCRATIC representative from Texas, who served in the U.S. Congress from 1929 to his death on March 7, 1976. He was chairman of the House of Representatives Committee on Banking and Currency for 40 years. For 20 of those years, he introduced legislation to repeal the Federal Reserve Banking Act of 1913.

I applaud Congressman Paul’s attempts at righting an injustice we have suffered in this country for 96 years.

It’s about time someone audited these thieves. Do you know they only print the principle money that they loan. When you pay the interest up front it is impossible to pay the principle off without borrowing more money. When the government takes money from the Federal Reserve they give them bonds for collateral. Then they print more money using the bonds as an asset. They then lend this money out to the various banks. Don’t you think it is reasonable for the taxpayer, when they have to bail the banks out of bad loans, to have the amount we owe the Federal Reserve reduced by the amount of the taxpayer bailout? It would be as if I borrowed $1000 from someone, gave them an IOU, then lost the money on a bad investment, then made them lend me $1000 to pay them back to find out that I now owe them $2000.

Congressman Patman did score a “small victory,” however. The Congress passed his bill but attached an amendment that will limit the audit to administrative expenditures only, presumably the expense accounts of the executives of the System, the numbers of pencils purchased per employee, etc., hardly what Patman had in mind.

Later Congressman Patman, Chairman of the House Banking Committee, was removed from his Chairmanship after the elections of 1974, because, as one Congressman voting to remove him told one of his constituents, Patman was “too old.”

Or maybe “too smart!”
-Ralph Epperson

I don’t see what’s wrong with giving a BUSINESS the power to control how much our money is worth, or how much money they make in return on Interest from the money that BUSINESS prints for us! Seems like a very reasonable, and good idea… if you live in a mental institution.

I hope this passes but i know it never will.The federal reserve (world elite bankers) won’t stop until they own everything even the air you breathe ..oh wait thats coming next with a carbon tax….wake up America!get rid of the fed !

This is long overdue. Lets hold this monopoly accountable!

Federal Reserve is not a branch of the government. It is a private group of bankers.

Audit them! And that’s all I have to say about that!

Why shouldn’t we be able to audit them? It is our money that is being used and allocated for this bailout and the Fed are printing money for the United States of America. There should be a way to check how OUR money is being used as well as a check system of the printing of money. If it is a truely transparent agenda we seek for thi administration this would definitely fall in with items that would need to be transparent. If we are not allowed to see an audit then maybe we should remove the right they have of being used by the United states as our money printers. We can legally print our own money as a nation. I believe that Lincoln did at one time didn’t he? This is just being fair to the people in my opinion.

Things are getting way out of hand with our gov’t. They are not listening. We have got to MAKE them hear us! Any suggestions? I write my congressmen almost daily and I get an automated response email or letter. I’m sick of this! Is anyone else as tired as I am? It seems that others are speaking out as well with no response. Our gov’t officials are supposed to work for us! I am attending a ‘TEA Party’ on April 15th but who’s to say that will work? I think we need a revolt! If everyone in America stopped paying taxes would they listen? I think they would have to! We could all claim married and 9 and then refuse to pay. I don’t think that is unAmerican. I think it is revolution in its greatest, loudest form! What do you all think???? They can’t arrest the entire nation! Can they?

Forget Obama, YOU are my President, Dr. Paul!

They should pass a new bill GETTING RID OF THE FED

Why has the Fed been able to do whatever they wanted? They basically control our economy. So why are they not voted in? They get appointed and no one watches what they do. Everyone in Washington is blaming everyone else for the economy crisis: Bush, corrupt corporations, housing. But no one is saying anything about the Fed. They hold as much responsibility as all the other ones. Audit them now!!

Why is Dennis Kucinich not a cosponsor on this bill?

H.R. 833

http://www.opencongress.org/bill/111-h833/show

This needs to happen…this is wrong, and we need a right to fix it!

I agree that we need to audit the F.E.D. and get rid of it as soon as possible. www.infowars.com

Can someone PLEASE explain to me how it is unreasonable for the US to audit it’s monetary system. Obviously there needs to be knowledge of what the Fed is doing, otherwise we could be taken advantage of without knowing the wiser. My senators (MD and FL) can expect angry letters and calls from me if something doesn’t change and this bill doesn’t pass!

Just because it’s a conspiracy theory doesn’t make it incorrect, only a theory. Theories are ideas that have not quite been proven fact. True, some conspiracy theories are loopy, but any conspiracy theory serves a purpose: They are representations of the lack of trust one has for a government. For example, 9/11 was a conspiracy. The question of who conspired is what’s up in the air. Some people believe it was conspired by the government. Others, like myself, believe the conspirators were foreigners who were upset with our “World Police” mentality.

What is a reality, is that the fed is without check. They can do whatever they please, as a separate branch of government, without adhering to the checks and balances system that the three branches are supposed to adhere to.

Sounds like a great idea to me, audit them, then begin dismantling them.

06-04-63 a virtually unknown Presidential decree E.O. 11110 was signed with the authority to basically strip the F. R. Bank of its power to loan money to the United States Federal Government at interest With the stroke of a pen President Kennedy declared that the privately owned F.R. Bank would soon be out of business We can now safely conclude that this E.O. has never been repealed amended or superceded by any subsequent E.O. In simple terms it is still valid When Kennedy was assassinated It appears obvious that President Kennedy knew the Federal Reserve Notes being used as the purported legal currency were contrary to the Constitution of the United States of America In a comment made to a Columbia University class on 11-12-63 Ten days before his assassination President Kennedy allegedly said The high office of the President has been used to foment a plot to destroy the Americans freedom and before I leave office I must inform the citizen of this plight

Excellent interview conducted by Bill Moyers with journalist William Greider (author of several books about the Fed and the economy)

http://www.pbs.org/moyers/journal/blog/2009/03/do_you_trust_the_federal_reser.html

END the FED

there are so many affronts on liberty these days, it can be difficult to decide where to focus one’s attention; however, getting this bill passed would be a step in the right direction.

Interest on National Debt. 39,000,000.00 per Hour Wake Up America. What could the Treasury of the UNITED STATES of AMERICA accomplish with that kind of income? Why are private bankers collecting interest on money that our government creates out of thin air through the FEDERAL RESERVE SYSTEM?

http://www.geocities.com/cmcofer/interest.html

They can still control the government. Look at the known, unquestioned power of lobbies. If you look at campaign promises of Bush and Obama vs. what they did and how identical the views of McCain and Obama are, it starts look like someone else is sure running the show.

This administration should be all about this bill, seeing how they are supposed to be the most transparent admin ever.

This bill badly needs the support, at home, of the people to put it plainly to their elected Officials that they conform to our wishes and will pass this or they will be with out a job. The American public forgets and often neglects its duty to control the elected officials we have put in congress and elsewhere. We are their bosses and so far I think over all the American people have been being lazy managers of their employees in washington. That is what your elected folks are your Employees!!!!!Thats the long and the short of it! If they can’t get the job done ….Fire them it really is that simple!

The Federal Reserve is a private company who is NOT part of the Federal goverment. This company should be arrested, deported and their american citizenship revoked, for they have caused nothing but problems by stealing our gold and making fake money.

This is one of the most important Bills this year. Tell you congressperson to vote YES! Our liberties, freedom, and national security are at further risk without it.