On January 4, 2021, Kentucky Congressman Thomas Massie introduced HR 24, a bill that would audit the Federal Reserve.
This week, Massie was able to pick up new sponsors for this bill. For example, Missouri Congresswoman Vicky Hartzler, Washington Congresswoman Jaime Herrera Beutler, Georgia Congressman Jody Hice, Florida Congressman Neal Dunn, Illinois Congresswoman Mary Miller, and North Carolina Congressman Dan Bishop.
With these new sponsors to HR 24, there are 66 sponsors for this bill.
This bill would do the following:
This bill establishes requirements regarding audits of certain financial agencies performed by the Government Accountability Office (GAO).
Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.
Massie declared that “The American people benefit when we work to increase government transparency.
Audit the Fed is just the first step before reaching the ultimate goal of ending the Fed. Central banking is the lifeblood of big government. It’s no coincidence that after the Fed was established in 1913 the expansion of the US government has ensued without pause for well over a century.
If we want to see genuine change in American politics, weakening and eventually abolishing the Fed should be one of the principal political priorities for liberty conservatives. This is a litmus test issue for any candidate that’s serious about carrying the liberty conservative.