Georgia Rep. Paul Broun calls for Harry Reid to act on Audit the Fed legislation

The Daily Caller published today U.S. Rep. Paul Broun’s (R-Ga) op-ed about a need to audit the Federal Reserve System. Broun calls for Senate Majority Leader Harry Reid (D-Nev.) to take action in the upper chamber on legislation H.R. 24, which passed the House of Representatives 333-92 on Sept. 17^, 2014.

As Broun points out, Reid made numerous statements throughout the years about the necessity to audit the Fed. Most recently, during a campaign debate in October of 2010, Reid said: ”There should be a Federal Reserve audit. We haven’t gotten it yet. But we’ve made some progress in that regard.

In previous years, Reid underscored that the secretive nature of the Federal Reserve System is uncalled for, because it deals with tax-payers money.  The System is subject to congressional oversight, yet a thorough and detailed audit is prohibited by law.  This is what Broun would like to see change.

”The Federal Reserve’s lack of accountability and transparency has led to grievous consequences, says Broun in his op-ed. ”Since the Federal Reserve was established, the United States has witnessed the Great Depression, the high inflation and unemployment of the 1970s, the stock market crash and banking crisis of the 1980s, the market turbulence of the 1990s, and, most recently, the 2008 financial crisis. Yet at the same time, the buying power of the United States dollar has fallen 95 percent under the Fed’s stewardship – in other words, today’s dollar is valued at approximately what a nickel was worth in 1913.

Reid has not acted on several ”Audit the Fed bills introduced by now retired former U.S. Rep. Ron Paul (R-Texas).  Broun, who sponsored and introduced the H.R. 24 in the House in March 2013, questions why Reid has changed his mind.

The congressman, who represents Georgia’s 10^th congressional district, is calling for ”citizens across the nation to demand from Reid and their U.S. Senators to allow a Senate vote on H.R. 24.

”The strongest political force in America is embodied in the first three words of the Constitution, ‘We the People’ – and through their voice, we can work towards delivering the govement transparency and accountability the American people need and deserve, said Broun in conclusion.