I am writing today to ask that you co-sponsor S.604: Federal Reserve Sunshine Act of 2009. This is a very important bill for ensuring oversight and accountability in the Federal Reserve, by allowing the GAO to perform an audit.
So-far, six of the seven representatives from our state have pledged their support for the House version of this bill, HR1207. The bill already has more than enough votes to pass in the House of Representatives. At the last count it had 237 votes.
This kind of legislation is very popular with the people of our state and the nation in general. We are ready to see some real changes in Washington D.C. and that means a real challenge to the unchecked power of the Fed.
In order to restore the reputation, both domestic and international, of our government and monetary system, it is essential that the public and the Congress be allowed to know what is going on at the Federal Reserve.
The Federal Reserve Board has become a de-facto fourth branch of government, it is un-elected and in many ways more powerful than the Congress. There are also many Constitutional questions as to whether the Congress even has the authority to establish a central bank; though that is a topic for future legislation.
Most Americans feel very strongly, as do I, that it is time we took the first step, on our path to transparency. This means a complete Audit of the books and records of the Federal Reserve Bank.
Please join the cause of Liberty and co-sponsor this bill.
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