CNSNews.com – The House of Representatives overwhelmingly passed a bill 327-98 this week to audit the Federal Reserve but the Democrat-controlled Senate is not expected to take up a similar measure there, even though Senate Majority Leader Harry Reid D-Nev. strongly favored auditing the Federal Reserve System several years ago.
On January 25, 1995, Reid argued in favor of an amendment by then Senator Byron Dorgan D-N.D. that would require the Federal Reserve to a prepare a report to Congress and disclose the financial impact of changing interest rates on the public and private sector.
“I have sponsored legislation that would call for an audit of the Federal Reserve System. I offer that amendment every year. Every year the legislation gets nowhere. I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve,” Reid said.
He continued, “Its taxpayers money that’s being used there but we dont do that. Senator Dorgan has spoke out on the secrecy of the Federal Reserve System. Hes spoken out on the Federal Reserve more than anyone that I know in either body.”
“But even though there is no entity in the world that controls our lives more than the Federal Reserve System, his speeches go unnoticed Im sorry to say,” Reid said.