House Arrest

"Well, I guess the gentlemen are in a pretty tall hurry to get me out of here. The way the evidence has piled up against me, I can't say I blame them much. And I'm quite willing to go, sir, when they vote it that way - but before that happens I've got a few things I want to say to this body. I tried to say them once before, and I got stopped colder than a mackerel. Well, I'd like to get them said this time, sir. And as a matter of fact, I'm not going to leave this body until I do get them said."
--Jefferson Smith (Mr Smith Goes to Washington)

A few months back Congressman Ron Paul introduced HR 1207, a bill designed to bring more transparency to the Federal Reserve. The bill has gained sponsorship in the house and as of today as 207 supporters. 218 yes votes are needed to pass the House.

The traction gained by this bill has to have Fed heads, and bureaucrats who depend on the Fed (i.e., friends of Big Gov't and Big Business), shaking in their boots. There is reasonable doubt whether the Fed could survive an audit.

I can't imagine that a Fed audit would happen without significant government interference--even if this bill became law.

But should the impossible occur, and actions from this bill lead to the dismantling of the Fed, then we would be well on our way to regaining long term economic and social health in our nation.

So keep an half an eye on HR 1207. Should it get past the House, we may witness drama in the Senate that Mr Smith would be proud of.