In a move that will surely have the Magnificent Idiot who runs LGF 1.0’s head exploding, conservative South Carolina Senator Jim DeMint has signed onto the movement in Congress to audit the federal reserve.
With well over 230 co-sponsors on both sides of the aisle in the House of Representatives, Texas Congressman Ron Paul’s effort to force an audit of the Federal Reserve is being led in the Senate by none other than South Carolina conservative Sen. Jim DeMint.
Last month, DeMint became the first Republican senator to support Senate Bill 604, the Federal Reserve Sunshine Act of 2009, and since then has talked extensively on radio and television about the importance of transparency with regard to the Fed. Yesterday, however, he took it a step further, attempting to attach the full text of S. 604 as an amendment to an appropriations bill, but the effort was blocked by Democratic Party leadership in the Senate, which refused to even allow a vote on the amendment.
Such a refusal was rationalized by the argument that DeMint was essentially attempting to legislate on an appropriations bill, a no-no which violates Senate Rule 16, which governs appropriations and amendments to general appropriations bills. DeMint, however, did not waver. He was prepared with a list of several other similar Government Accountability Office audits contained in the appropriations bill, rattled them off one-by-one, and pointed out that using the same argument advanced and embraced by Senate Democratic leadership moments earlier, each and every one of the GAO audits would also run afoul of Senate Rule 16.
By doing so, he forced Senate Democrats to essentially acknowledge that their objection to the amendment was not at all about procedure or Senate rules, but rather about an overt refusal to permit an audit of the organization so graciously and mysteriously assisting the elected left with the advancement of their agenda.
The Federal Reserve has failed to account for nine trillion dollars–that’s $9,000,000,000,000, or approximately $30,000 for every single living man, woman and child–but has never in its history been subject to an audit.
The American people deserve to know what’s going on, and how this opaque institution has squandered our currency and our future. I am delighted to know that Jim DeMint is spearheading this effort in the Senate, and I hope that Republicans ensure that the very same amendment is proposed alongside each and every piece of legislation possible until it is passed.
Click the link to see the video of Sen. DeMint on the floor of the Senate blasting the Democrats on this!
Now, I’m not a big fan of Ron Paul in the least. I tend to look upon him as a largely benign whacko who keeps to himself mostly, but occasionally has an outburst that makes you wonder who forgot to put the padlock back on his door down in the basement. Like he’s America’s Crazy Uncle, if you will. On this issue, however, Ron Paul is absolutely, positively, dead-aim on the money, and I’m glad to see that this movement is actually gaining steam in our legislature. It’s past time that the Fed was audited, and held accountable for the damage that it has systematically done to the US economy and the US dollar through its profligate monetary policy.
Of course, Charles over at 1.0 is sure to try to make hay of this, but I would really like to ask him: what rational person wouldn’t be in favour of auditing the Federal Reserve? I mean, come on, the blasted thing is only America’s central bank, responsible for things like setting our interest rates, controlling the money supply, and influencing the rate of inflationary devaluation of our currency. What right-minded person doesn’t think that a standing triennial audit of the Fed would simply be sound fiscal and public policy? After all, the IRS can audit you and I for things a lot less shady than what the Fed routinely does with our money supply. Why shouldn’t the Fed be held to at least some regulatory oversight?
Tags: Economy, Federal Reserve








How long now before this DeMint meets an untimely end in a “tragic plane accident”. I would avoid driving too if I were him.
Just watched the Republican Senators giving their opinion of the disaster that the Healthcare bill would be.
One them referred to the Democrats as “our friends on the other side of the aisle”.
See that’s the f**king problem; THEY MAY BE YOUR FRIENDS BUT THEY’RE NOT MY FRIENDS!
The past, present and future Rep pols just don’t get it.
RUN, SARAH RUN!!
Vote for the Grizzly party.
(barracuda’s are too cold and vicious).
(takeoff on teddy roosevelt’s bull moose break away party).
It’s official; we’ve passed the Senate of Rome in degradation.
A Horse’s A$$ has been sworn in as a United States Senator.
re: #2 by jakee308
Forget it. Sarah is finished because she ran out on her state of Alaska and constituents after 2 1/2 years. Disgraceful!
On the first attempt to have a Central Bank.
Thomas Jefferson
James Madison
On the second attempt of a Central Bank.
Andrew Jackson
On the third attempt.
Abraham Lincoln
President Woodrow Wilson, dissembling after signing into law the Federal Reserve Act.
Congressman Louis T. McFadden (Congressional Record, June 15, 1934)
We’ve known all along that this was a travesty. An audit would be a start.
If an audit is performed, fairly and honestly, then the following outrage should be enough to finally create the impetus to dissolve this abhorrent institution.
re: #4 by Speranza
Kinda like the junior senator from Illinois who ran out on his constituents to run for President??
re: #4 by Speranza
Some of us think she did the right thing.
re: #6 by tuffy
After saying he wouldn’t run.
re: #8 by no2liberals
Eggzachery.
I’m tellin’ ya…she’s gonna run for Senator. It’s just too permature to announce it. So in that vein, she is essentially doing what so many other politicians do…they leave one seat (job) to pursue another.
re: #7 by no2liberals
She did the wrong thing!!! She needed to run with a strong resume of success behind her and now it looks as if she cut and ran from the people who elected her, and after only 2 1/2 years (does she think she is a Democrat?). Two huge disappointments- Sanford, whom I liked a lot whenever he was on television and now Palin. I guess Mitt wins the nomination by default as the GOP loves the concept of primogeniture, (and please no more crap about Duncan Hunter or Huckleberry).She is a huge disappointment even though I think she is a fine woman in many ways. I’m into winning in 2012 with the most electable candidate we can get.
re: #9 by tuffy
I don’t care what she does, as long as she is out front promoting conservative ideas and principles.
The left and the GOP establishment are terrified of her.
The fact that she isn’t of the NY-DC establishment is a plus, that she didn’t attend some walled fortress of liberalism in the Ivy League is a plus-plus.
re: #6 by tuffy
Have people here gone daft?
Hey let us not stoop to the Democrats level. Besides, a senator has no where near the responsibilities that a Governor has. Hillary left the Senate 2 years after winning re-election in 2006. Big effing deal as they just replaced her with another liberal Democrat without missing a beat. I liked Palin but am not a Palinbot.
re: #10 by Speranza
I disagree.
She already has.
re: #12 by Speranza
You need to ease up, we just disagree.
Me either, I just like what she has done, and what she represents…conservatism.
I bot for no one.
re: #14 by no2liberals
I did not mean to sound harsh, please explain though how quitting after 2 1/2 years was a good thing?
Some good videos.
re: #13 by no2liberals
Please, she needed a strong record of achievement and she did well for the 2 1/2 years she was in but come on – she ran out of office (and you cannot parse that) and that sticks in me. I am not interested in her speeches touting her achievements. I am sick of what someone at LGF 1 (a good friend of mine by the way) once called “the purity of losing”. I want to win and Palin unfortunately is not that person (although I would vote for her if she is the nominee).
re: #15 by Speranza
If she had no interest in running again, and would be a lame duck in a few months, I don’t see that it makes much difference when she left.
If she has plans for another political office, or pursuing other interests while she is a hot property, resigning is a better choice than staying in office.
When she travels now, she is abandoning her office.
She is a national figure now, whether she or her family likes it or not, so she might as well embrace it, and use it to her advantage.
Wherever she speaks she packs the house, and she has a lot to offer as a voice for conservatives.
I still don’t understand why her resigning is such a big deal, people do it all the time, not just in politics.
re: #17 by Speranza
I don’t have to, you have already parsed that out for yourself.
She resigned, plain and simple. She has other opportunities to pursue, and I fully support her and her family.
The left and the GOP establishment can’t control her now, and she doesn’t have to sit in the governor’s chair and take their BS anymore. She is free to be herself, and to go on the attack.
Still some interesting events in Iran.
Iran Opposition Finds New Ways to Protest.
A possible deal for Zelaya?
I agree with La Gringa, and hope this is dropped.
re: #18 by no2liberals
I personally believe the MSM has made a very big error here in there constant vile attacks on Sarah Palin.
She is now able to travel the country, hammering the Libs as she feels. When she’ll speak promoting conservative values a couple things will happen. One thing is the Media won’t be able to dump on both Sarah Palin and the conservative candidate at the same time, they just aren’t that bright. Secondly, she’ll be able to speak without having to worry about what the MSM will say, she’s not an elected official.
She can now pursue many financial options, and pay off her 600,000 in legal fees from these 15 non-sensical ethic complaints.
BTW, her husband has much more control than I do, cause Dave Letterman would have been brushing his teeth with a toilet bowl brush if he’d have said that about my daughter. I don’t know how he puts up with that crap.
And another thing, the boy from Texas had made it past knucklehead to “Trying to tolerate”.
re: #10 by Speranza
Who said she was going to run for president in 2012?? That is an assumption that the left is heavily promoting for the very reasons you are proposing. What if she really HAS NO PLANS to run for president in 2012, but rather wants to earn her bones as a senator or congresswoman, and THEN run for president after she has supported a conservative candidate for 2012, while fighting battles in the senate to FURTHER support that republican president. She is VERY young in terms of presidential viability. I think she senses an urgency to effect changes and her decision to step down was a reaction to what she sees as a hostile liberal take-over by Obama. The question I propose to you is would you support her if she wasn’t running for president in 2012, and at least stand by to see what her next move is before dismissing her out of pocket based on liberal-pushed assumptions/rumors? Do you trust her enough to at least see what she has planned? I support her because at the end of the day, I know she truly believes in conservative values and is deeply troubled by what she sees being done by Obama and that’s worth it’s weight in gold. I think she feels an urgency to do more NOW, and that can’t be done from the comfort of her Governor’s chair.
No2l,
Talk to you later man, I be tired
re: #22 by My5princesses
I understand there are a lot of opinions on her leaving office before her term is up, I just see it as a good move, all things considered.
VDH has an excellent piece up at PJM.
What is Wisdom?—Sarah Palin and Her Critics.
I like her background, and how she has made positive contributions every step of the way.
That she isn’t part of the NY-DC crowd, and from a snooty liberal college, make her even more attractive to the average American.
As for Letterman’s BS, there is no excuse, and if I had ever watched his show, or listened to him, I would have turned him off. I hope Todd never comes within spittin’ distance of Letterman, he will be arrested.
As for the CenTex boy, I see he is like a tumor, and is growing on you.
re: #23 by tuffy
Imagine she goes on the campaign trail in support of conservatives, and in 2012 a conservative wins the election.
I’m thinking Secretary of Energy Palin.
Michael Steele to Sarah Palin: ‘Sarah, come on in’
I think he might also be concerned about her taking his job.
Here’s the calculus on Sarah Palin’s decision to resign — and it’s elementary:
re: #23 by tuffy
I did not say that I would not support her if she was a Republican candidate for another office down the line, only that to me she is a huge disappointment in leaving office after only 2 1/2 years.
re: #26 by no2liberals
Loves it. She has SO much to offer on a national level and I trust she is formulating a plan to take the fight to Washington. I doubt she is seriously planning on running for President yet UNLESS…and I say unless this nation takes a very dangerous turn and she feels a “calling” and the door opens for her. She speaks of opened doors often and I think we will ALL have to see what the state of the nation is going to be 3 years from now (God help us).
How typical of our radical Marxist president.
re: #29 by Speranza
I thought you were more upset that her stepping down early would effect her chances at the presidency. I will leave any potential animus to the citizens of Alaska.
So basically you see her as a “quitter”.
I’m looking forward to seeing her “not quitting”.
re: #30 by tuffy
Nobody can predict what will happen.
I never thought some of the people in the past would win office, either.
I mean a slimey sax player from Arkansas?
Lots of twists in turns in politics. I just like her conservative values, and that she has lived them.
re: #32 by tuffy
I guess that is where we have different views on this. I see her resignation as her engagement, and not as her quitting.
I’ve read some comments on other blogs from Alaska citizens, and overwhelmingly they are supportive of her decision.
re: #33 by no2liberals
Look at Marion Barry! He should be in the election shock hall of fame. (No comparisons are implied here to Mrs. Palin).
It just shows to go ya’ that you nevvvver know what’s going to happen. Stranger things have.
re: #34 by no2liberals
I didn’t call her a quitter!!
re: #32 by tuffy
What can I say. We shall see. I just hope we have no more John “He is the only Republican who can win in 2012″ McCain’s. Is it safe to go back to hating McCain?
re: #36 by tuffy
I know…I know.
re: #37 by Speranza
I never stopped.
re: #37 by Speranza
Yes, I have, lol.
I fired off a nasty gram (email) when he tried to get more money after the election regarding him throwing Sarah Palin under the bus. I’m sure he didn’t read it, but I felt better afterwards. He pissed me the hell off, and his daughter too!
re: #37 by Speranza
Mc was the establishment GOP choice, because he polled heavily with moderates.
Now the establishment is trying to thrust Romney on us. He flip-flopped more than John Effing Kerry.
re: #41 by no2liberals
No sh*t. But he’s managed to stay stable for a while now and is looking more and more attractive fiscally. He changed his stance on abortion and I don’t hold it against him. People change and mature. I have.
Now if he can just keep his you-know-what in his pants, we might be alright (DAMN SANFORD!!!!) I really liked his refusal to take the stimulus money. Man, he fucked up.
See the picture on Drudge. Are jackson’s white kids wearing dark makeup? From the last picture I saw of the eldest, he also has had his hair dyed dark.
re: #43 by newsjunkie_ky
I don’t give a DAMN about Michael Jackson right now. We should be giving that kind of recognition publicly to fallen soldiers everyday. The media is a whore.
tuffy,
agree but the picture is the lead on drudge and who put the dark makeup on the white kids while al sharpton is making the whole thing about race? I didn’t watch a damn minute of this farce and hate that the media has given all attention to it.
guess you watched Rep. King’s youtube video.
Yeah, but I felt that way already. We are really f-d up as a country to give this man so much adulation when people are fighting unpopular wars to fight an unpopular “overseas contingency”. Today has just been a sh*tty day for me. I’m sad and deeply bothered by what I see. I can’t even stand to hear O’s voice. And we have 3 more years of this!!!
re: #42 by tuffy
Sanford and Ensign.
I don’t get these guys.
I just plain don’t get it.
tuffy,
understand. heard sharpton (may have been on o’reilly) say how we loved jackson a black man and then we voted for a black man and the crowd goes wild.
re: #48 by newsjunkie_ky
Sharpton keeps it racial so he can stay relevant.
I’m hitting the hay hoping tomorrow will be a better day. (hey, that rhymes). How ya’ like me now?
Good night and God bless…
It’s no wonder we have obama as president, when so many idiots in America love celebraties.
Bernie Goldburg said it right, we are now living in ‘the United States of Entertainment’.
re: #51 by newsjunkie_ky
There are far too many empty heads and lives out there.
If they ever get a wake up call, it will painful.
Heh… DeMint is going up against the Mint? HAHAHAHAHAHA!
Sorry, I love wordplay.
Any sunlight shined upon the federal government is good.
Great piece.
Palin: Why She Left Is No Mystery.
re: #15 by Speranza
Um – the DNC attack machine flooded her state and filed 15 ethics violations after the election in November. Her family is half a mil in hock and the entire states resources were diverted to defending the frivilous lawsuits.
By the time she left office the ethics lawsuits would have reached the hundreds and that’s all the fodder the SCM would need to tar and feather her.
Even fox news continuously reports that she’s had 15 ethics violation probes without ever saying she was cleared of all charges.
[...] be fair, there are a handful or so of Republicans working on the right things. Senator Jim DeMint (R-SC) introduced a bill to audit the Federal Reserve, a Senate version of Ron Paul's HR1207. … what rational person wouldn’t be in favour of [...]