Federal Reserve Transparency Act of 2013
S. 209
Number of Co-Sponsors
30
Weight
3x
Liberty for All's Position
The Federal Reserve is a privately owned corporation established in 1913 with almost zero accountability. In 2006 the Federal Reserve classified the amount of U.S. dollars in circulation, making it almost impossible to calculate the relative value of the U.S. dollar. In one of the only audits performed on the Federal Reserve in the last 100 years, it was discovered that billions of dollars have been secretly, and without authorization, transferred to numerous banks in a shadow bailout. Thomas Jefferson once warned that "if the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." This bill does not go nearly far enough when it comes to necessary reforms of U.S. monetary policy and repeal of the Federal Reserve but it represents a crucial move towards accountability and is an important first step towards further change.Current Status
The committees assigned to this bill sent it to the House or Senate as a whole for consideration on February 7, 2013.
Name
Co-Sponsor?
Lamar Alexander
Republican Senator - TN
No
Kelly Ayotte
Republican Senator - NH
Yes
Tammy Baldwin
Democratic Senator - WI
No
John Barrasso
Republican Senator - WY
Yes
Max Baucus
Democratic Senator - MT
No
Mark Begich
Democratic Senator - AK
Yes
Michael Bennet
Democratic Senator - CO
No
Richard Blumenthal
Democratic Senator - CT
No
Roy Blunt
Republican Senator - MO
No
Cory Booker
Democratic Senator - NJ
No
John Boozman
Republican Senator - AR
Yes
Barbara Boxer
Democratic Senator - CA
No
Sherrod Brown
Democratic Senator - OH
No
Richard Burr
Republican Senator - NC
Yes
Maria Cantwell
Democratic Senator - WA
No
Benjamin Cardin
Democratic Senator - MD
No
Thomas Carper
Democratic Senator - DE
No
Robert Casey
Democratic Senator - PA
No
Saxby Chambliss
Republican Senator - GA
Yes
Daniel Coats
Republican Senator - IN
No