Ron Paul to Chair Monetary Policy Subcommittee

Republican/Libertarian Texas Congressman and former Presidential Candidate Ron Paul, one of very (and I mean VERY) few people in our Federal Government that actually supports the Constitution and individual freedom, will become Chairman of the Subcommittee on Domestic Monetary Policy when the new Congress takes control in January.

This means that he will have more power to issue subpoenas on the Federal Reserve, including an audit of the entire organization, which by the way is something that has never been done since it was established in 1913, nearly 100 years ago.

While the new Chairman Paul will need formal approval of both the Chairman of the Financial Services Committee and the newly elected Speaker of the House John Boehner to issue such subpoenas, once they are approved, the American people will finally know the truth as to what the hell has been going in the Federal Reserve System, their monetary and fiscal policies domestically and its relationships with central banks and bailouts to Wall Street firms.

Congressman Paul has been getting support on introducing the audit from even Democrats in the House, including Congressman Allan Greyson of Florida and Congressman Dennis Kucinich of Ohio.

Now Federal Reserve Chairman Ben Bernanke and the Weasel Secretary of the Treasury Tim Geithner say any audit of the Fed would be a bad idea, yet they both have not offered any formal explanation as to why it would be a bad idea.

Are they protecting the globalists? Probably.

Do they not want the American people to know how our monetary and fiscal policies have been handled? Definitely.

Earlier this month, the Federal Reserve was forced to finally release documents involving the bailouts of some of the financial institutions, something that Congressman Paul has been pushing for quite some time. The information is breathtaking. Goldman Sachs took out $18 billion in credit from the Federal Reserve over the course of 84 times, Deutsche Bank of Germany sold the Fed over $290 billion in mortgage securities, while Credit Suisse of Switzerland sold $280 billion, and also provided assistance to firms including Bear Stearns and American International Group.

That is just the tip of the iceberg.

I'd suspect that if the subpoenas are approved, and I hope and pray that they are, and an investigation is completed into the Federal Reserve's operations, there will be more of an uprising of many angry Americans.