The Federal Reserve Transparency Act (HR 1207), would allow the Federal Reserve to be audited. I have been following this bill since March when it was introduced by Congressman Ron Paul. The bill took off due to those Americans out there who called and demanded that their representative support it.

Congressman Paul in the video below says that the chances of the bill passing on it's own are "quite frankly very slim". He does say though that it is possible if the American people put enough pressure on them. He also says that the chances of those who don't really want transparency at The Fed of watering down the bill are also good.

There is a way to force the bill to a vote and it is called a Discharge Petition. For this to occur though it would require Democrats in the House to sign a petition which basically says that the leadership in The House is not doing the will of The People. Since the leadership in the house is made up of Democrats this is highly unlikely. It is signing a vote of no confidence in their leadership in essence. From my point of view this is what needs to be done, but these are politicians we are talking about and getting them to sign onto a bill is a little different than getting them to openly rebuke their leadership.

HR 1207 currently has 282 co-sponsors (more than half of the 435 members of the house), yet it has not had a chance to be voted upon on the House floor. This is due to Nancy Pelosi not allowing it to be brought up. Obviously there are those, including Pelosi, who want the Fed to remain a black box private entity who has the power to destroy our currency with no oversight, despite President Obama claiming he will have the most transparent administration in history. I don't see him championing this bill.

In the Senate, which also must pass a bill in order for it to make it eventually to the President's Desk, there is S 604 introduced by Democrat Bernard Sanders, which currently has 23 co-sponsors. There are of course 100 Senators total.

If you don't see your Senator listed below... call the Capitol Switchboard, ask for them by name and then tell them that you want them to co-sponsor S 604, the Federal Reserve Transparency Act.

For the House do the same thing, but the bill is HR 1207.

Capitol Switchboard: 1-877-851-6437

If you do see your Senator or rep listed, consider calling them and thanking them for supporting the bill and ask that they pass it onto their colleagues to also support it.

The full list of co-sponsors are below the videos and you can always find the latest list of co-sponsors at the links below for the text of the legislation.

Text of S 604 Text of HR 1207

Ron Paul gave a speech the other day, August 21, 2009, where he sums up the current status of the bill and what needs to be done next.

Ron Paul on the Status of HR 1207 - The Federal Reserve Transparency Act

What is HR 1207 - The Federal Reserve Transparency Act?

Current Senate co-sponsors of S 604 as of August 24, 2009

Senator Date Signed Barrasso, John [WY] 7/15/2009 Bennett, Robert F. [UT] 7/15/2009 Brownback, Sam [KS] 7/8/2009 Burr, Richard [NC] 7/9/2009 Cardin, Benjamin L. [MD] 7/28/2009 Chambliss, Saxby [GA] 7/8/2009 Coburn, Tom [OK] 7/20/2009 Cornyn, John [TX] 7/20/2009 Crapo, Mike [ID] 6/25/2009 DeMint, Jim [SC] 6/11/2009 Feingold, Russell D. [WI] 7/15/2009

Senator Date Signed/2009 Graham, Lindsey [SC] 7/24/2009 Grassley, Chuck [IA] 8/3/2009 Harkin, Tom [IA] 7/20/2009 Hatch, Orrin G. [UT] 7/24/2009 Hutchison, Kay Bailey [TX] 7/20/2009 Inhofe, James M. [OK] 7/9/2009 Isakson, Johnny [GA] 7/8/2009 Lincoln, Blanche L. [AR] 7/15/2009 McCain, John [AZ] 7/15/2009 Risch, James E. [ID] 8/3/2009 Vitter, David [LA] 6/16/2009 Webb, Jim [VA] 8/3/2009

Current House co-sponsors of HR 1207 as of August 24, 2009

Representative Date Signed Abercrombie, Neil [HI-1] 2/26/2009 Aderholt, Robert B. [AL-4] 5/6/2009 Adler, John H. [NJ-3] 5/6/2009 Akin, W. Todd [MO-2] 3/19/2009 Alexander, Rodney [LA-5] 3/10/2009 Altmire, Jason [PA-4] 5/20/2009 Austria, Steve [OH-7] 5/6/2009 Bachmann, Michele [MN-6] 2/26/2009 Bachus, Spencer [AL-6] 4/29/2009 Baird, Brian [WA-3] 7/10/2009 Baldwin, Tammy [WI-2] 4/21/2009 Barrett, J. Gresham [SC-3] 4/28/2009 Barrow, John [GA-12] 5/12/2009 Bartlett, Roscoe G. [MD-6] 2/26/2009 Barton, Joe [TX-6] 5/4/2009 Berkley, Shelley [NV-1] 5/21/2009 Berry, Marion [AR-1] 5/20/2009 Biggert, Judy [IL-13] 4/28/2009 Bilbray, Brian P. [CA-50] 4/21/2009 Bilirakis, Gus M. [FL-9] 5/4/2009 Bishop, Rob [UT-1] 4/21/2009 Bishop, Timothy H. [NY-1] 7/10/2009 Blackburn, Marsha [TN-7] 3/16/2009 Blunt, Roy [MO-7] 3/24/2009 Boccieri, John A. [OH-16] 7/28/2009 Boehner, John A. [OH-8] 6/10/2009 Bonner, Jo [AL-1] 6/9/2009 Bono Mack, Mary [CA-45] 4/29/2009 Boozman, John [AR-3] 5/7/2009 Boswell, Leonard L. [IA-3] 6/9/2009 Boucher, Rick [VA-9] 7/20/2009 Boustany, Charles W., Jr. [LA-7] 5/13/2009 Boyd, Allen [FL-2] 7/14/2009 Brady, Kevin [TX-8] 4/22/2009 Braley, Bruce L. [IA-1] 6/11/2009 Bright, Bobby [AL-2] 6/11/2009 Broun, Paul C. [GA-10] 2/26/2009 Brown, Corrine [FL-3] 6/11/2009 Brown, Henry E., Jr. [SC-1] 4/28/2009 Brown-Waite, Ginny [FL-5] 5/20/2009 Buchanan, Vern [FL-13] 3/17/2009 Burgess, Michael C. [TX-26] 3/19/2009 Burton, Dan [IN-5] 2/26/2009 Buyer, Steve [IN-4] 4/30/2009 Calvert, Ken [CA-44] 4/29/2009 Camp, Dave [MI-4] 6/18/2009 Campbell, John [CA-48] 5/4/2009 Cantor, Eric [VA-7] 6/23/2009 Cao, Anh "Joseph" [LA-2] 6/11/2009 Capito, Shelley Moore [WV-2] 4/1/2009 Carney, Christopher P. [PA-10] 6/9/2009 Carter, John R. [TX-31] 3/31/2009 Cassidy, Bill [LA-6] 5/4/2009 Castle, Michael N. [DE] 3/17/2009 Chaffetz, Jason [UT-3] 3/6/2009 Chandler, Ben [KY-6] 7/7/2009 Childers, Travis [MS-1] 6/9/2009 Coble, Howard [NC-6] 6/11/2009 Coffman, Mike [CO-6] 6/16/2009 Cole, Tom [OK-4] 4/21/2009 Conaway, K. Michael [TX-11] 5/7/2009 Conyers, John, Jr. [MI-14] 6/23/2009 Courtney, Joe [CT-2] 7/8/2009 Crenshaw, Ander [FL-4] 5/4/2009 Culberson, John Abney [TX-7] 3/26/2009 Dahlkemper, Kathleen A. [PA-3] 7/22/2009 Davis, Danny K. [IL-7] 6/26/2009 Davis, Geoff [KY-4] 5/6/2009 Deal, Nathan [GA-9] 3/23/2009 DeFazio, Peter A. [OR-4] 3/9/2009 Dent, Charles W. [PA-15] 5/6/2009 Diaz-Balart, Lincoln [FL-21] 7/10/2009 Diaz-Balart, Mario [FL-25] 6/18/2009 Doggett, Lloyd [TX-25] 4/21/2009 Dreier, David [CA-26] 6/10/2009 Duncan, John J., Jr. [TN-2] 3/6/2009 Edwards, Chet [TX-17] 6/16/2009 Edwards, Donna F. [MD-4] 6/11/2009 Ehlers, Vernon J. [MI-3] 4/21/2009 Emerson, Jo Ann [MO-8] 7/15/2009 Fallin, Mary [OK-5] 4/2/2009 Farr, Sam [CA-17] 7/8/2009 Filner, Bob [CA-51] 7/28/2009 Flake, Jeff [AZ-6] 5/11/2009 Fleming, John [LA-4] 3/18/2009 Forbes, J. Randy [VA-4] 5/20/2009 Fortenberry, Jeff [NE-1] 5/12/2009 Foxx, Virginia [NC-5] 3/10/2009 Franks, Trent [AZ-2] 3/23/2009 Frelinghuysen, Rodney P. [NJ-11] 6/3/2009 Fudge, Marcia L. [OH-11] 7/9/2009 Gallegly, Elton [CA-24] 7/7/2009 Garrett, Scott [NJ-5] 3/5/2009 Gerlach, Jim [PA-6] 5/11/2009 Giffords, Gabrielle [AZ-8] 6/16/2009 Gingrey, Phil [GA-11] 3/30/2009 Gohmert, Louie [TX-1] 4/23/2009 Goodlatte, Bob [VA-6] 4/28/2009 Granger, Kay [TX-12] 4/28/2009 Graves, Sam [MO-6] 4/22/2009 Grayson, Alan [FL-8] 3/11/2009 Griffith, Parker [AL-5] 6/16/2009 Grijalva, Raul M. [AZ-7] 6/3/2009 Guthrie, Brett [KY-2] 5/7/2009 Hall, Ralph M. [TX-4] 4/29/2009 Halvorson, Deborah L. [IL-11] 6/3/2009 Hare, Phil [IL-17] 5/11/2009 Harman, Jane [CA-36] 7/7/2009 Harper, Gregg [MS-3] 5/11/2009 Hastings, Doc [WA-4] 5/11/2009 Heller, Dean [NV-2] 3/6/2009 Hensarling, Jeb [TX-5] 5/4/2009 Herger, Wally [CA-2] 4/21/2009 Herseth Sandlin, Stephanie [SD] 5/6/2009 Hinchey, Maurice D. [NY-22] 6/2/2009 Hirono, Mazie K. [HI-2] 7/8/2009 Hoekstra, Peter [MI-2] 4/28/2009 Holden, Tim [PA-17] 6/4/2009 Hunter, Duncan D. [CA-52] 5/13/2009 Inglis, Bob [SC-4] 4/23/2009 Inslee, Jay [WA-1] 5/12/2009 Issa, Darrell E. [CA-49] 6/16/2009 Jackson, Jesse L., Jr. [IL-2] 7/30/2009 Jenkins, Lynn [KS-2] 4/23/2009 Johnson, Henry C. "Hank," Jr. [GA-4] 6/9/2009 Johnson, Sam [TX-3] 4/22/2009 Johnson, Timothy V. [IL-15] 4/23/2009 Jones, Walter B., Jr. [NC-3] 2/26/2009 Jordan, Jim [OH-4] 6/2/2009 Kagen, Steve [WI-8] 2/26/2009 Kaptur, Marcy [OH-9] 4/23/2009 King, Peter T. [NY-3] 6/4/2009 King, Steve [IA-5] 6/11/2009 Kingston, Jack [GA-1] 3/6/2009 Kirk, Mark Steven [IL-10] 7/15/2009 Kirkpatrick, Ann [AZ-1] 7/14/2009 Kline, John [MN-2] 4/29/2009 Kosmas, Suzanne M. [FL-24] 6/17/2009 Kratovil, Frank, Jr. [MD-1] 6/4/2009 Kucinich, Dennis J. [OH-10] 6/11/2009 Lamborn, Doug [CO-5] 4/21/2009

Representative Date Signed/2009 Lance, Leonard [NJ-7] 5/11/2009 Latham, Tom [IA-4] 4/21/2009 LaTourette, Steven C. [OH-14] 4/28/2009 Latta, Robert E. [OH-5] 5/20/2009 Lee, Christopher J. [NY-26] 6/10/2009 Lewis, Jerry [CA-41] 6/24/2009 Linder, John [GA-7] 5/6/2009 Lipinski, Daniel [IL-3] 6/4/2009 LoBiondo, Frank A. [NJ-2] 5/4/2009 Loebsack, David [IA-2] 6/10/2009 Lofgren, Zoe [CA-16] 7/7/2009 Lucas, Frank D. [OK-3] 4/21/2009 Luetkemeyer, Blaine [MO-9] 4/21/2009 Lummis, Cynthia M. [WY] 3/19/2009 Lungren, Daniel E. [CA-3] 5/7/2009 Mack, Connie [FL-14] 5/12/2009 Maffei, Daniel B. [NY-25] 5/12/2009 Manzullo, Donald A. [IL-16] 4/21/2009 Marchant, Kenny [TX-24] 3/11/2009 Markey, Betsy [CO-4] 6/25/2009 Massa, Eric J. J. [NY-29] 4/22/2009 McCarthy, Kevin [CA-22] 5/4/2009 McCaul, Michael T. [TX-10] 4/21/2009 McClintock, Tom [CA-4] 3/6/2009 McCotter, Thaddeus G. [MI-11] 3/19/2009 McDermott, Jim [WA-7] 4/29/2009 McGovern, James P. [MA-3] 6/10/2009 McHenry, Patrick T. [NC-10] 4/30/2009 McHugh, John M. [NY-23] 5/4/2009 McIntyre, Mike [NC-7] 6/10/2009 McKeon, Howard P. "Buck" [CA-25] 6/11/2009 McMorris Rodgers, Cathy [WA-5] 5/4/2009 Melancon, Charlie [LA-3] 7/10/2009 Mica, John L. [FL-7] 5/12/2009 Michaud, Michael H. [ME-2] 5/7/2009 Miller, Candice S. [MI-10] 4/28/2009 Miller, Gary G. [CA-42] 6/10/2009 Miller, Jeff [FL-1] 3/24/2009 Minnick, Walter [ID-1] 5/13/2009 Mitchell, Harry E. [AZ-5] 6/9/2009 Moran, Jerry [KS-1] 5/4/2009 Murphy, Christopher S. [CT-5] 7/7/2009 Murphy, Patrick J. [PA-8] 6/9/2009 Murphy, Scott [NY-20] 7/9/2009 Murphy, Tim [PA-18] 4/29/2009 Myrick, Sue Wilkins [NC-9] 4/28/2009 Neugebauer, Randy [TX-19] 4/30/2009 Nunes, Devin [CA-21] 6/12/2009 Oberstar, James L. [MN-8] 7/31/2009 Olson, Pete [TX-22] 4/21/2009 Ortiz, Solomon P. [TX-27] 5/14/2009 Pascrell, Bill, Jr. [NJ-8] 6/9/2009 Pastor, Ed [AZ-4] 5/20/2009 Paulsen, Erik [MN-3] 3/30/2009 Payne, Donald M. [NJ-10] 7/30/2009 Pence, Mike [IN-6] 4/21/2009 Perlmutter, Ed [CO-7] 6/10/2009 Perriello, Thomas S.P. [VA-5] 5/13/2009 Peterson, Collin C. [MN-7] 3/19/2009 Petri, Thomas E. [WI-6] 3/10/2009 Pitts, Joseph R. [PA-16] 4/28/2009 Platts, Todd Russell [PA-19] 3/19/2009 Poe, Ted [TX-2] 2/26/2009 Polis, Jared [CO-2] 6/11/2009 Posey, Bill [FL-15] 2/26/2009 Price, Tom [GA-6] 3/10/2009 Putnam, Adam H. [FL-12] 4/28/2009 Radanovich, George [CA-19] 5/6/2009 Rehberg, Denny [MT] 2/26/2009 Reichert, David G. [WA-8] 5/20/2009 Richardson, Laura [CA-37] 7/28/2009 Roe, David P. [TN-1] 4/21/2009 Rogers, Harold [KY-5] 7/14/2009 Rogers, Mike D. [AL-3] 5/13/2009 Rogers, Mike J. [MI-8] 5/20/2009 Rohrabacher, Dana [CA-46] 3/6/2009 Rooney, Thomas J. [FL-16] 4/22/2009 Ros-Lehtinen, Ileana [FL-18] 4/28/2009 Roskam, Peter J. [IL-6] 6/2/2009 Ross, Mike [AR-4] 5/21/2009 Rothman, Steven R. [NJ-9] 6/18/2009 Royce, Edward R. [CA-40] 5/12/2009 Ryan, Paul [WI-1] 5/14/2009 Salazar, John T. [CO-3] 7/15/2009 Sarbanes, John P. [MD-3] 6/15/2009 Scalise, Steve [LA-1] 5/20/2009 Schakowsky, Janice D. [IL-9] 5/6/2009 Schauer, Mark H. [MI-7] 5/20/2009 Schiff, Adam B. [CA-29] 7/14/2009 Schmidt, Jean [OH-2] 6/11/2009 Schock, Aaron [IL-18] 5/6/2009 Scott, David [GA-13] 7/20/2009 Sensenbrenner, F. James, Jr. [WI-5] 5/7/2009 Sessions, Pete [TX-32] 3/23/2009 Shadegg, John B. [AZ-3] 5/7/2009 Shea-Porter, Carol [NH-1] 6/9/2009 Sherman, Brad [CA-27] 6/23/2009 Shimkus, John [IL-19] 4/22/2009 Shuler, Heath [NC-11] 6/12/2009 Shuster, Bill [PA-9] 5/7/2009 Simpson, Michael K. [ID-2] 4/28/2009 Slaughter, Louise McIntosh [NY-28] 6/17/2009 Smith, Adam [WA-9] 4/22/2009 Smith, Adrian [NE-3] 4/28/2009 Smith, Christopher H. [NJ-4] 6/15/2009 Smith, Lamar [TX-21] 4/2/2009 Snyder, Vic [AR-2] 6/23/2009 Souder, Mark E. [IN-3] 6/16/2009 Space, Zachary T. [OH-18] 6/23/2009 Speier, Jackie [CA-12] 6/11/2009 Stark, Fortney Pete [CA-13] 3/26/2009 Stearns, Cliff [FL-6] 3/6/2009 Sullivan, John [OK-1] 7/8/2009 Taylor, Gene [MS-4] 3/6/2009 Teague, Harry [NM-2] 6/12/2009 Terry, Lee [NE-2] 3/30/2009 Thompson, Bennie G. [MS-2] 7/17/2009 Thompson, Glenn [PA-5] 4/22/2009 Thornberry, Mac [TX-13] 5/21/2009 Tiahrt, Todd [KS-4] 4/28/2009 Tiberi, Patrick J. [OH-12] 4/28/2009 Tierney, John F. [MA-6] 7/20/2009 Titus, Dina [NV-3] 7/14/2009 Tonko, Paul D. [NY-21] 6/9/2009 Turner, Michael R. [OH-3] 5/13/2009 Upton, Fred [MI-6] 4/29/2009 Visclosky, Peter J. [IN-1] 7/20/2009 Walden, Greg [OR-2] 5/4/2009 Walz, Timothy J. [MN-1] 5/7/2009 Wamp, Zach [TN-3] 3/16/2009 Welch, Peter [VT] 5/21/2009 Westmoreland, Lynn A. [GA-3] 4/2/2009 Whitfield, Ed [KY-1] 5/14/2009 Wilson, Joe [SC-2] 4/29/2009 Wittman, Robert J. [VA-1] 4/1/2009 Wolf, Frank R. [VA-10] 6/11/2009 Woolsey, Lynn C. [CA-6] 2/26/2009 Wu, David [OR-1] 7/13/2009 Yarmuth, John A. [KY-3] 7/14/2009 Young, C.W. Bill [FL-10] 6/3/2009 Young, Don [AK] 3/6/2009