[Congressional Record (Bound Edition), Volume 155 (2009), Part 16]
[House]
[Page 21671]
[From the U.S. Government Publishing Office, www.gpo.gov]




              AUDITING THE FEDERAL RESERVE IS LONG OVERDUE

  (Mr. GRAYSON asked and was given permission to address the House for 
1 minute.)
  Mr. GRAYSON. Mr. Speaker, it was announced earlier today that there 
will be a hearing on H.R. 1207, the bill to audit the Federal Reserve 
Bank. This will be the first independent audit in the Federal Reserve's 
96-year history, and it's long overdue.
  Months ago I asked the Vice Chairman of the Federal Reserve, Who 
received the $1 trillion in funds that the Federal Reserve has handed 
out to domestic institutions?
  He said, I'm not going to tell you.
  Then more recently to the Chairman of the Federal Reserve, I asked 
him, Who received the half trillion, and we're talking about $500 
billion, that the Federal Reserve handed over to foreign central banks? 
Whom did they disseminate that money to?
  And he said, I don't know.
  Half a trillion dollars and he doesn't know.
  It's long overdue. We need to audit the Federal Reserve, and I am 
happy to say that we're going to have a hearing on that very soon.

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