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State of California June 5, 2012 Election
Smart Voter

Who's watching the Fed? No one.

By Dan Hughes

Candidate for United States Senator

This information is provided by the candidate
In 1913, Congress abdicated its Constitutional responsibility "to Coin money, regulate the value thereof, and of foreign coin" to 7 unelected officials at the Federal Reserve Bank.

This was the beginning of what at the time was predicted to be a collusive and monopolistic strangle hold on the American economy.

And then in 1971, President Nixon single-handedly overrode our Constitution and deemed that our currency would `float', allowing unabridged control of the value of our dollar to the Fed.

As banking magnate Anslem Rothschild "Give me the power to control the currency and I don't care who makes the laws". Ron Paul introduced the Fed transparency bill HR 1207 in 2009 with Darrell Issa and 319 other republican and democratic members of Congress which would have illuminated the `cloud of secrecy' that is the Fed. Sadly, after being included by the House and passed on a bi-partisan basis as part of the Financial Stability Improvement Act of 2009 in the House of Representatives, it was effectively stripped by a small group of Senators in the Senate who oppose an open and accountable Federal Reserve Bank.

The Bill to Audit the Fed has been reintroduced and has hundreds of co-sponsors in the House and 20 co-sponsors in the Senate. When elected to the Senate, I will not only co-sponsor this important legislation, but I will fight alongside Senator Rand Paul to see this bill become a law.

Unless and until Congress takes back its responsibility for currency and best represents "We the People", our economy will be subject to the whims of a very few powerful people, and history has shown that the fate of the common person has worsened with Fed monetary manipulation.

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