Liberty and Freedom
Please read the following Press Release that I issued today calling on Congressman Upton to co-sponsor the Federal Reserve Transparency Act. As we go through the campaign I will be keeping you updated on issues of importance.
Hoogendyk Calls on Upton to Sponsor the
Federal Reserve Transparency Act
Would be the first comprehensive audit of the Fed in its 99-year history
Kalamazoo, MI- Former State Representative and current candidate for U.S. Congress Jack Hoogendyk, today called on Congress and Fred Upton to move the Federal Reserve Transparency Act, the bill sponsored by Congressman Ron Paul to audit the Fed.
The Federal Reserve, the unelected central bank of the U.S., enjoys a monopoly over the flow of our nation’s money and credit but has never been completely transparent and accountable to Congress since its creation in 1913. Over its nearly 100 year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar while Congress has kept its hands off and its eyes closed.
“Every corporation is required to submit to an audit of its books, stockholders demand it,” said Jack Hoogendyk. “And yet, the Federal Reserve, which controls trillions of dollars of taxpayers’ money, has never had a full audit in its 99-year history. Congressman Paul is right, we need an audit.”
Ron Paul has introduced H.R. 459, “The Federal Reserve Transparency Act.” His bill has 199 co-sponsors, just 19 short of the magic number 218, a majority in the House. Only one Republican from Michigan has failed to sign on. That one Republican is Fred Upton.
“I have been a supporter of transparency since I introduced the first bill to put the state’s checkbook online back in 2007. Congress, the Federal Reserve, and the U.S. Treasury have put the American taxpayer on the hook for over $16 trillion in bailouts and loans, yet the Federal Reserve continues to refuse to fully disclose the details of its emergency lending. Allowing the Fed to operate our nation's monetary system in almost complete secrecy leads to abuse, inflation, and a lower quality of life for every American. It is time to audit the Fed. I call on my Congressman, Fred Upton to sign on as a co-sponsor to H.R. 459.”
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