On Tuesday, Senator Rand Paul (R-Ky.) offered the Federal Reserve Transparency Act of 2013, also known as "Audit the Fed.” The bill would eliminate restrictions on Government Accountability Office (GAO) audits of the Federal Reserve. Additionally, the measure would give Congress oversight of the Fed's credit facilities, securities purchases, and quantitative easing activities.
As the Obama administration and Congress continue to rack up trillions of dollars in debt while the Federal Reserve conjures ever-greater sums of fiat currency into existence out of thin air, lawmakers in Texas have officially become the latest policymakers to openly explore the potential consequences. Legislation filed recently in the Lone Star State would, among other points, require a study on the effects of having to become partially or completely independent of the federal government in case Washington, D.C., is unable to function due to financial chaos.
Earning widespread applause from activists, analysts, and Tea Party groups nationwide, state lawmakers in the Virginia House of Delegates passed several important resolutions this week on issues that have been gaining increasing prominence in recent years. The measures, which mostly passed with broad support, deal with everything from restraining an out-of-control federal government and United Nations to ensuring that Virginians are protected in the event of a collapse of the increasingly unstable Federal Reserve fiat dollar system.
A market economy with many competitors has incentives and constraints that are the opposite of those in a government monopoly.
The recent release of the Federal Reserve Board's transcripts of its deliberations back in 2007 shows that their economic prophecies were way off. How much faith should we put in their prophecies today — or the policies based on those prophecies?
A Highland, Utah city councilman has introduced two resolutions in support of two state sovereignty-restoring laws signed over the last two years by Utah Governor Gary Herbert.
The Conservative Action Project issued a memo to GOP leaders to stand firm on the debt ceiling issue and demand that the White House agree to spending cuts first. That strategy is likely to have as much success as the last debt ceiling confrontation did in 2011: None.
Amid an ongoing debate over raising the debt ceiling and Congress’ seeming inability to rein in wild deficit spending, some proponents of even bigger government proposed the minting of a $1-trillion platinum coin to get around stubborn lawmakers seeking budget cuts. Seriously. Originally, the Obama administration refused to rule it out when asked by reporters, leaving analysts to speculate about whether or not they would really do it.
Two years ago Steve Forbes, two-time candidate for nomination for president by the Republican Party and editor of Forbes magazine, predicted “a return to the gold standard by the United States within five years … [because it would] help the nation solve a variety of economic, fiscal and monetary ills.” It’s now two years into his prediction and articles explaining how such a return would work, and why, are beginning to appear in the media.