HR 1207, the Federal Reserve Transparency Act

  Tags: politics   finance   economy   federal reserve


HR 1207 is a bill introduced by Ron Paul (see: Representative Ron Paul 50/50). HR 1207 would amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.

See also

HR 206 Sunlight Rule
S 604 - the Federal Reserve Sunshine Act

Arguments For

Yes on HR 1207

The federal reserve has operated in secrecy since it's formation in 1913. As massive inflation has taken place since then, there has been increasing demand for an audit of the federal reserve.

Supporting Links

Visit AuditTheFed.com

Arguments Against

No on HR 1207

The federal reserve's monetary policies cannot be revealed or else it will affect the markets in a negative way. Furthermore, the federal reserve is a corporation and without a criminal charge, should not need to reveal it's business practices.


 1  Federal Reserve loses suit demanding transparency Aug 24, 2009 Unknown Author (Reuters.com)
 2  Frank: Bill Mandating "Complete Audit" Of The Fed Will Pass House In Fall Aug 28, 2009 Grim, Ryan (HuffingtonPost.com)
 3  HR 1207 Update - Victory at Hand? Sept 22, 2009 (Bytestyle.tv)
 4  Federal Reserve rejects request for public review Sept 21, 2009 Webster, Stephen C. (Rawstory.com)

Related Debates

Is the US Economy is in a Recession?
Bay Area Real Estate Market is Improving
Cash for Clunkers
Allow people to opt-out of social security?
Ben Bernanke re-appointed fed chair
Do you support the GM bailout?
Do the bank failures worry you?
Eliminate the federal reserve?
Is Obama's Recovery Plan Working?

User Comments & Opinion


2 Voted Yes

profile pic
#economy I voted yes. - thorie (twitter) 0
profile pic
HR 1207 Audit the Federal Reserve - Victory at Hand!? - jennyhooah (twitter) 0

0 Voted No

Vote "Yes" Comment:
* Note: Your comment will be tweeted.
Vote "No" Comment:
* Note: Your comment will be tweeted.
Recent Changes   dot   Latest Comments   dot   63 Total Users   dot   260 Total Debates since Aug '09