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Thursday, June 04, 2009

Help Needed for Financial Audit Bills: HR1207 & S604

By now you've seen and heard probably way too much on the Banks and the Federal Reserve (Fed). So, rather than grumble and shake your head in disgust any longer, here is an opportunity to try to do something - - and, IT'S EASY!

Here's some background:

Right now, there are parallel bills in the House (HR1207) and Senate (S604) to require a 'public' audit of the Fed. This has never happened in its nearly 100 year history. HR1207 already has over 175 cosponsors, but the Senate version (S604) has none. For more details please go here (this petition represents step 2 as recommended therein).

This petition represents a very small step, but sometimes change gets started that way - especially since there have been bills in Congress to revamp, abolish, or to nationalize the Fed... all left to die in committee (most recently HR7260 which died in 2008). Possibly because the Congress has been 'bought and paid for' - - this May, Senator Dick Durbin said: "They [the banks] own this place [the Senate]". But that is all the more reason to let them know there is grass roots support.

[If you don't think contacting your elected representatives works, please fast forward to the 1 hour and 26 minute mark in this House hearing by clicking on 'view archived video'].

All you have to do is give permission to include your name and address (with City, State, Zip) in the linked petition, asking Congress to support these two bills. I will forward it to the members of the appropriate committees (about 100 of them) in the House and Senate.


Please email your consent to: for1207and604 @ yahoo.com (spaces removed).


Abraham Lincoln also took on the bankers:


The Bankers were going to charge him 24% to 36% interest to finance the War. So, Lincoln advised Congress to pass a law authorizing the printing of full legal tender Treasury notes to pay for the War effort. These Treasury notes were a debt free and interest free money, saying…”The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become servant of humanity.”


After Lincoln’s assassination, Congress revoked the Greenback Law and enacted, in its place, the National Banking Act. The national banks were to be privately owned and the notes (not money) they issued were to be interest bearing debt.

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by Tucson on Thursday, June 04, 2009

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