Federal Reserve Audit "Coming Soon"

A proposal by Congressman Ron Paul to audit the Federal Reserve was approaching majority support in the U.S. House Of Representatives, he is confirming the plan has reached a crucial benchmark. The tremendous grassroots and bipartisan support in Congress for H.R.1207 is an indicator on how the mainstream America is fed up with the Fed Secretary, Paul said after U.S. Representatives Denis Kucinch of Ohio became the 218th sponsor giving the plan, technically the support in the 435 member house. A spokeswoman from Ron Paul office said the bill had attracted 221 cosponsors. She, said hearings of transparency of the Federal Reserve are expected over the next month as part of the Financial Services he, Committee series on hearings regulatory reform. Paul and many Americans has opposed the power of the Federal Reserve and it's ability to manipulate the nation's economy and over the years have launched multiple proposals to get rid of the private banking powerhouse, without significant support. Therefore, in light of the banking economic collapse in the United States and the government takeover of banking industry and government demands on auto industry bankruptcies, the government appointment of pay czar apparently change is coming in America. The Constitution Paul says Congress not the Federal Reserve the has, authority to coin money and regulate the value of the currency in the United States. Finally, there is a companion bill sponsored by Sen. Bernie Sanders of Vermont H.R. 604 that calls for the Comptroller General of the United states to audit the private Federal Reserve and Report to Congress by the end of 2010.