Is Audit The Fed Dead On Arrival?

With HR 459, better known as Ron Paul's "Audit The Fed" bill, passing with an overwhelming, veto-proof majority in the House of Representatives yesterday, you'd think that it would be merely dotting the i's and crossing the t's to get it into law and have the audit done.  But it won't be so easy.  In order to become law, a corresponding version of "Audit The Fed" will have to also be passed by the Senate and signed by the President.  So how difficult will this be? It may largely depend on which Harry Reid we get.Senate Majority Leader Harry  Reid has come out strongly in favor of a fed audit and gave an excellent speech on the subject...in 1995.With someone so strongly in favor of an audit of the Federal Reserve in charge of the Senate, you'd think Audit The Fed would be brought up for a vote in no time.  Of course, the complication here is that this was 1995 Harry Reid, not 2012 Senate Majority Leader Harry Reid.  Reportedly, Senator Reid has vowed not to allow Audit The Fed to come up for a vote this during this session of Congress.  The Democratic Majority Whip, Steny Hoyer, had this to say about an audit:

"This bill would ... jeopardize the Fed's independence by subjecting its decisions on interest rates and monetary policy to GAO audit...I agree with Chairman Bernanke that congressional review of the Fed's monetary policy decisions would be a 'nightmare scenario,' especially judging by the track record of this Congress when it comes to governing effectively."

It's true that auditing the Fed would indeed be a "nightmare scenario" for those who control the Federal Reserve and have been allowed to operate in secrecy for nearly 100 years. But for the American people the worst scenario will occur if we continue to allow the privately-owned central bank continue to debase the currency, leading to higher inflation and possibly even hyperinflation, the true nightmare scenario.It is also very likely that President Obama would veto Audit The Fed if it came to his desk.  The bill did pass with a veto-proof majority in the House and would need to do the same in the Senate in order to prevent a veto.  But even if a veto were inevitable, it would be important to send this legislation to the Senate and force the decision.  How could the self-described "most transparent administration ever" deny the will of the people to force transparency of the Federal Reserve?The first step is to create the same political pressure in the Senate that lead to the success of the bill in the House. Harry Reid must be forced to bring the bill up for a vote.  Thanks to the Angel Clark at The Examiner for providing Senator Reid's full contact information below.  Let Harry Reid know it is unacceptable to prevent a vote on Audit The Fed!Receive access to ALL of our EXCLUSIVE bonus audio content – including “Conspiracy Corner”, “Degenerate Gamblers” and the “League of Liberty Podcast” by joining the Lions of Liberty Pride and supporting us on Patreon!Email: http://www.reid.senate.gov/contact/index.cfmCarson City600 East William Street, #304Carson City, NV 89701Phone: 775-882-7343 / Fax: 775-883-1980Las VegasLloyd D. George Building333 Las Vegas Boulevard South, Suite 8016Las Vegas, NV 89101Phone: 702-388-5020 / Fax: 702-388-5030RenoBruce R. Thompson Courthouse and Federal Building400 South Virginia Street, Suite 902Reno, NV 89501Phone: 775-686-5750 / Fax: 775-686-5757Rural NevadaIf you live in Esmeralda, Lincoln, or Nye Counties:Phone: 702-388-5020 / Fax: 702-388-5030If you live in Churchill, Douglas, Elko, Eureka, Humboldt, Lander, Lyon, Mineral, Pershing, Storey or White Pine County:Phone: 775-686-5750 / Fax: 775-686-5757Washington522 Hart Senate Office BuildingWashington, DC 20510Phone: 202-224-3542 / Fax: 202-224-7327Toll Free for Nevadans: 1-866-SEN-REID (736-7343) – Restricted to calls originating from area codes 775 and 702Reid NewsroomSen. Reid’s Nevada Press Office 202-224-9521 (for inquiries from Nevada media)Senate Democratic Policy and Communications Center 202-224-2939