Ron Paul Slams the Mel Watt FED Audit Amendment

Ron Paul Slams the failed Mel Watt Amendment

Rep. Mel Watt, a Democrat from North Carolina's 12th congressional district, introduced an amendment intended as an alternative to the measure to audit the Federal Reserve introduced by Reps. Ron Paul (R-Texas) and Alan Grayson's (D-Fla.) . But instead of increasing transparency, as the amendment claims to do, Watt's measure would instead make the institution more opaque.

Mel's proposal would further insulate the FED from Congressional oversight and remove Constitutional accountability.

The Fed has expanded its balance sheet drastically over the last year, entering into exotic swap arrangements and otherwise pumping trillions of dollars into the economy. How it has done so and who has been on the receiving end would remain secret under Watt's bill.

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News & Politics

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• Mel
• Watt
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• Corruption
• FED
• Transparency
• Gerrymander
• Gerrymandered
• 12th
• Congressional
• district
• North
• Carolina
• Charlotte
• Greensboro
• Winston-Salem
• Lexington
• Salisbury
• High
• Point
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• Ron
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• Grayson

[disposablefreedom]

RON PAUL FOR PRESIDENT!!!! DOWN WITH THE FED!!!!!

[ricglos]

Write a book as you have historical value and a legacy of truth under extreme circumstances, in your case, so in your current argument DO NOT BACK DOWN!

[OutlawTomFantastic]

Supporting the alternative Watt amendment makes things worse. It does not achieve the repeal of those exemptions. .. If we allow the Watt amendment to pass, not only do we not get the Federal Reserve Transparency Act, what we end up with is more difficulty in finding out what the federal reserve is doing. Sure there are a lot of people opposed to it.