As American lawmakers debate reining in, auditing, reforming, or even abolishing the controversial Federal Reserve System following a growing wave of bipartisan outrage over its bailouts and wild currency printing, discredited U.S. central bank boss Ben Bernanke is actually urging Europe to create a centralized fiscal authority to be more like the United States. But the process is actually already well underway.

 After reviewing the weak jobs report from the Bureau of Labor Statistics (BLS) that was released last Friday, the president of the Federal Reserve Bank of Boston, Eric Rosengren, decided it was time to call for more money to be added to the economy.

 

States are considering applying Article I, Section 10 not to "make anything but gold and silver coin a tender in payment of debts."

 As concerns over the U.S. dollar and the Federal Reserve continue to grow, U.S. lawmakers explored sound money, competing currencies, and the route to monetary freedom during an August 2 hearing chaired by Rep. Ron Paul (R-Texas). It was the final House Domestic Monetary Policy Subcommittee hearing led by the long-time champion of honest currency and reining in the controversial Fed, but analysts say the impact of Rep. Paul’s work is only just starting to be felt.

What is certain is that an implosion in Europe's debt crisis is reaching the point of inevitability in much the same manner that the housing bubble came to a head and burst in the United States, but though no one knows when the debt crisis will come to a head, events are happening in September that may push the eurozone over a fiscal cliff.

Some Republican National Committee officials and people in the Romney campaign worry that supporters of Ron Paul will cause a ruckus and disrupt the GOP convention in August. However, the quest continues beyond Tampa and beyond 2012. The citizens of this nation have the right and the responsibility of returning power to the states and only electing to office in the general government those men and women committed to restraining themselves with the fetters of the Constitution and upholding their oaths to “preserve, protect, and defend” that document “from all enemies, foreign and domestic.”

The fines imposed on Barclays Bank by the British Financial Services Authority represent just the beginning of the exposure of the international banking cartel's efforts to keep interest rates low.

 

Texas Congressman Ron Paul's bill to audit the Federal Reserve Bank easily passed the House of Representatives July 25 by a vote of 327-98. Every House Republican voted for the bill except freshman Rep. Bob Turner of New York, while Democrats were about evenly split.

 

 The House passed Ron Paul's Audit the Fed bill today 327-98. Today, July 25, the House of Representatives passed Ron Paul's Audit the Fed bill (H.R. 459) 327-98.

In his last public opportunity to quiz Federal Reserve Chairman Ben Bernanke, who appeared before the House Financial Services Committee on July 18, Texas Congressman and Republican presidential candidate Ron Paul took the time to put things into perspective.

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