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Dr. Ron Paul: No Longer the Lone Ranger

June 25, 2009
Justin Williams
June 25, 2009

In 1983, largely due to the policies of the Fed Chairman Paul Volcker and President Ronald Reagan, the American people were finally rid of the burden of astronomical inflation. The policy of the Carter Administration attempting to offset unemployment with having the Federal Reserve print money was at last at an end.

At the same time, a fresh-faced congressman named Ron Paul (R-TX) decided that because of this, it was a good opportunity to investigate the very institution that had helped wreak havoc on the economy with runaway inflation. That same year, he proposed H.R. 877 a bill that would allow the General Accounting Office (GAO) to audit the Federal Reserve Board, the Federal Advisory Council, the Federal Open Market Committee, and the Fed banks and branches themselves.

Dr. Paul was able to garner only 18 co-sponsors on that bill, which died with little to no support. Like many of his bills, supporting liberty and transparency, it was sent to committee where it ultimately met its slow and unheralded death.

But, that was then and this is now. With the Federal Reserve, loose monetary policy, and impending inflation making headlines in the mainstream media, more attention is finally being paid to a near identical bill — H.R. 1207 — that Congressman Paul reintroduced in February of this year.

The story continues …..

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