Whereas: Congress, the Federal Reserve, and the U.S. Treasury have put the American taxpayer on the hook for over $16 trillion in bailouts and loans; and
Whereas: The limited glimpse into the Federal Reserves books has shown hundreds of millions given in non-recourse “loans” to their politically connected Wall Street friends; and
Whereas: The Federal Reserve refuses to fully disclose the details of its emergency lending and agreements with foreign governments, foreign central banks and corporations; and
Whereas: The United States Constitution gives Congress the authority to coin money and regulate the value thereof, and auditing the Federal Reserve will allow Congress to assert its constitutional authority over monetary policy and help to protect the value of the United States dollar; and
Whereas: Allowing the Fed to operate our nation's monetary system in almost complete secrecy has led to abuse, inflation, and a lower quality of life for most Americans; and
Whereas: HR 459 and S. 202, the Federal Reserve Transparency Act, would require a complete audit of the Fed for the first time in its history and would provide answers to the American people about how our money is being spent;
THEREFORE BE IT RESOLVED: That we STRONGLY URGE Congress to immediately pass, and President Barack Obama to sign into law H.R.459 or S.202, that would require a full and complete independent audit of the Federal Reserve System, and that the results be immediately provided to Congress; and
THEREFORE BE IT FURTHER RESOLVED: That upon completion of the audit, the results be immediately provided to the United States Congress and through The Congress to the People of the United States of America.