Will Grigg?s Liberty Minute

July 29, 2009

During a recent congressional hearing, Federal Reserve Chairman Ben Bernanke could not explain what had happened to more than half a trillion dollars the Fed lent to foreign central banks. What kind of institution is run in such a corrupt and lackadaisical manner?

A bi-partisan measure sponsored in the House of Representatives by Ron Paul of Texas, and by Senator Bernie Sanders of Vermont, calls for a congressional audit of the Federal Reserve.

The proposal has earned more than 270 co-sponsors in the House, and 17 in the Senate. It has also provoked indignant and fearful condemnation from Fed Chairman Bernanke and many defenders of the status quo in the media and academia.

Opponents of the proposed audit insist it would violate the Fed?s independence and make it subservient to Congress. There is no reason for the Fed to be independent; in fact, there is no constitutional justification for its existence.

Let us end the Fed ? and take back the liberty wherewith Christ has made us free.