Poll: 8 in 10 now support an audit of the Federal Reserve System

After the financial devastation that swept through the United States over the last couple of years, Americans are wanting the Federal Reserve to open their books and be audited.

Former 1988 and 2008 Presidential candidate and Republican Congressman from Texas, Ron Paul, has been fighting to audit the Federal Reserve System for more than two decades with little public support. Since the wake of the economic collapse under both the Bush and Obama administrations, Americans are curious as to what the Federal Reserve is actually doing with their money. Democratic Congressman Alan Grayson accused the Fed’s Chairman Ben Bernanke of giving money out to foreign banks and governments. House Resolution 1207 Federal Reserve Transparency Act of 2009 has garnered a lot of support not only in the House of Representatives (317 co-sponsors) but now in mainstream America. A Rasmussen telephone survey suggests that 79 per cent of Americans are in favor of an audit of the Fed. Only 7 per cent are opposed and 14 per cent are unsure. In July, Digital Journal reported, which was also featured in the documentary film “Fall of the Republic,” that three in four Americans wanted an audit of the Federal Reserve. Last week, Bernanke defended his record in front of a Senate panel for his confirmation after President Barack Obama nominated the Fed Chairman to a second term. Under his tenure, according to the BBC, Bernanke has cut interest rates to zero and spent at least $3 trillion. Bernanke told the panel, “My colleagues on the Federal Open Market Committee and I are committed to implementing our exit strategy in a manner that both supports job creation and fosters continued price stability.” The telephone poll contains a margin of error of +/- 3 percentage points.