Make or Break. 60 Dems "cross-the-floor" to follow Paul

[youngdan]

A major event has taken place which could well shape the global economy going forward. Ron Paul in the Spring introduced HR 1207 which was a bill to conduct the first in depth audit of the Fed since at least the 30s. Paul is no longer the obscure rep that few outside of market watchers knew about. He is now seen as being the leading voice on economic issues.

Where once he rarely was able to get more than a few co-sponsers he has now pulled off a coup. About 60 democrats have signed on to the bill and there is now a total of 223 co-signers. The majority signer at 218 was Kucinich. Kucinich has also a somewhat similiar bill with less numbers.

The bill will most likely make it out of committee to a floor debate where it would be passed. A lot can happen to a bill though and it is the most important legislation this year.

The reason it is the most important is because as James Grant, the market mavin, has said if the Fed is unmasked then it will be abolished. When the trillions that went to overseas banks is exposed there will be a hue and cry.

There could be anything from a quaranteen to a war to distract from this proceeding. For sure a distraction there will be.

There are other things happening in parallel to this. The Fed has been served sub-poenas to get all documentation on the Bank of America takeover of Merrill Lynch. Lewis is up there under oath and he is very unlikely to chance telling a lie before Congress. Who knows where this will go. The chairman of this committee is Kucinich but the chairman of the committee over Paul's bill is Barney Prancer.

http://www.bloomberg.com/apps/news?p...d=apFRX1fpfL1I

Aside from this things are going well for the Paulites. It looks like Peter Schiff will run against Dodd for the senate and that Rand Paul is running for Bunning's republican Kentucky seat.

The Campaign for Liberty has 160000 members so there will be oodles of cash to spend. Judge Napolitano has his show on Fox so we will see plenty of Paulite candidates on TV.

tHE 14TH amendment campaign is flying with it passed in both houses in 8 states.

More on this later


So I guess those who said Paul was going nowhere can shut their gobs now.

[Defeated Romanticist]

I doubt it will get out of the senate unfortunately.

[Clanrickard]

. Paul is no longer the obscure rep that few outside of market watchers knew about. He is now seen as being the leading voice on economic issues.
.

Dan! Put the bottle down and step away from it!

[youngdan]

Dan! Put the bottle down and step away from it!

Whose opinion carries more weight, 224 congressmen or Clanrickard, I am going to use up some of my lifelines on this difficult question

[Clanrickard]

Whose opinion carries more weight, 224 congressmen or Clanrickard, I am going to use up some of my lifelines on this difficult question

Sorry dan but they are supporting a bill NOT supporting your contention that he is the leading voice on economics. Keep the lifelines for the question about what ammo is best for shooting at black helicopters when you are hiding out in the Ozark Mountains. It's a toughie.

[youngdan]

Sure sure sure, they are supporting his bill because they think he is stupid.

[ballot stuffer]

So he tabled a bill to count the metal in the fed. Woop de do.
60 dems crossing the floor is is nothing to get excited about either. Look at the amount of reps that went against party lines on hugely more important bail out votes for instance.

[youngdan]

metal in the fed

What are you talking about

[Mr.De-Regulation]

he is clearly the best politician in the world.

[rhonda15]

The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC.

Fed Would Be Shut Down If It Were Audited, Expert Says - Markets * US * News * Story - CNBC.com