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Lexington Resolution: Audit of the Federal Reserve

This below resolution was passed at the Lexington county convention, and will now go to the resolutions committee. If the resolutions committee passes it, the resolution will be up for a vote at the state convention. However, before the resolutions committee votes, they want to know your opinion. Please use the comments section below to give us your opinion, and please use your real name. Thank you!

Whereas, the Republican Party of Lexington County, believes that fiscal responsibility is essential to uphold the basic principles establishes in the constitution of the United States and is necessary to protect individual freedom and rights; and,

Whereas, the Republican Party of Lexington County believes that a transparent government and monetary system is the government that governs best; and,

Whereas, the board of Governs of the Federal Reserve System (FED) is responsible for hundreds of billions of dollars of taxpayer monies appropriated as part of the Emergency Economic Stabilization Act of 2008; and,

Whereas, the FED can enter into agreements with foreign central banks and foreign governments; and,

Whereas, the FED’s deal with foreign central banks are not published in Congressional reports and many assets and liabilities of the Federal Reserve Banks are no published anywhere; and,

Whereas, the U.S. Government Accountability Office (GAO) is prohibited form auditing or even seeing these agreements; and,

Whereas, allowing the FED to operate our nation’s monetarily system in almost complete secrecy leads to abuse, inflation, and a lower quality of life for Americans; and,

Whereas, auditing means the complete books, and all monies given as ”bailouts”, to any party, corporation, international bank, and government needs to be public information, including who received money, how much was received, and on what has been spent; and,

Whereas, the Constitution of the United States gives the Congress the authority to coin money and regulate the value thereof, and auditing the FED will allow congress to assert its Constitutional authority over monetary policy and help to protect the value of the United States dollar; and,

Whereas, by promoting open and transparent government, an audit of the FED will promote trust in our government and bring back accountability to the Federal Reserve System; and,

Whereas, HR 459 has 123 co-sponsors and has bipartisan cosponsors in the United States House of Representatives; and,

Whereas, S 202, has bipartisan cosponsors in the United States Senate; Now therefore, on this 16th day of April, in the year 2011, be it:

Resolved, that the Republican Party of Lexington  County South Carolina call upon the United States Congress to act immediately to pass, and upon President Barak Obama to sign into law H.R. 1207 or S 604, without changes that weaken the intent of the bill to require a full and complete audit of the FED, to direct the Comptroller General of the United States, as the head of the U.S Government Accountability Office, to perform a complete audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve banks; and, that upon completion of the audit, the results be immediately provided to the United States Congress and through the Congress to the People of the United States of America.

Be it further resolved that this resolution be transmitted to the Member of Congress representing the State of South Carolina.

Oakwood Precinct Robert Schaeffer