CA GOP Supports FED Audit

CRP Fall Convention, Indian Wells, California — With the grassroots assistance of the Alameda County GOP and the Sonoma County GOP, the largest State Republican Party in the nation has adopted an official Party position in full support of legislation aimed to Audit the Federal Reserve (HR 1207 and S.604).

Back in March, Members of the Alameda County Republican Central Committee drafted and passed a resolution in support of Republican Congressman Ron Paul’s bill H.R.1207, titled the Federal Reserve Transparency Act of 2009. At the time, H.R.1207 had 36 co-sponsors in the House of Representatives, a small fraction of the support it has today.

Following Alameda County’s resolution, the Sonoma County GOP & the Contra Costa GOP passed similar resolutions that set off a chain reaction with other GOP County Central Committees’ and volunteer groups’ outside of the San Francisco Bay Area and even in other states as far away as Virginia and Tennessee.

Since then, while under review by the House Financial Services Committee, the bill has picked up a tremendous amount of support from both sides of the aisle and includes every Republican Representative in the House as a co-sponsor (178) along with 117 Democrats. With 295 total co-sponsors’ H.R.1207 is now eligible for consideration under suspension of House rules. A hearing was recently held by Congressman Barney Frank, who chairs the House Financial Services Committee.

The companion bill in the United States Senate (S.604) has also received bi-partisan support and currently has 28 co-sponsors. Both bills can be read in less than 5-minutes and call for the audit to be reported by the end of 2010.

On September 1st, Alameda County GOP Chairman, Jerry Salcido and Sonoma County GOP Chairman Michael Erickson, submitted a resolution in support of both H.R.1207 & S.604 to the state level to be considered by the California Republican Party delegation at the September 26-27th Fall Convention.

Support H.R.1207 & S.604In the weeks leading up to the convention, Members’ of the Alameda County GOP, Sonoma County GOP, the Campaign for Liberty and the Republican Liberty Caucus of California compiled a list of endorsements from respected Republican leaders in the Party including, but not limited to, Republican Congressman Tom McClintock and Republican Assemblyman Chuck DeVore.

Congressman McClintock was one of the first co-sponsors’ of H.R.1207 and enthusiastically endorsed the proposed CRP resolution by Chairman Salcido and Chairman Erickson. Assemblyman DeVore, the Republican frontrunner looking to replace Senator Barbara Boxer in 2010, expressed his strong support for S.604, as well as, protecting tax payer dollars.

At the GOP convention on Saturday, Assemblyman DeVore spoke in support of the proposed resolution during a Resolutions Committee meeting, pointing out the lack of accountability and saying, “…more leaks come out of the CIA than Federal Reserve.” Audience members applauded DeVore after hearing his explaination about why the Federal Reserve needs to be audited.

David LaTour, one of the original authors’ of the resolution, who also serves as the Alameda County GOP Assistant Treasurer and a CRP delegate said, “I was very impressed with Chuck’s understanding of the need for accountability and transparency with the FED. It was great to have his support today and I look forward to helping his campaign in any way that I can. I‘d love to send Boxer into retirement.”

CA GOP supports Audit the FedAfter discussing the proposed resolution, Members of the Resolutions Committee expressed their full support by unanimously voting to recommend approval to the CRP delegation.

The following day, Members of the CRP delegation assembled together and gave final approval to the resolution in support of the FED audit with what sounded like only one gentleman in the audience opposed to the idea.

Matthew Heath, a CRP delegate who serves on the Sonoma County GOP said he hoped that the support from the largest Republican Party in the country would encourage some of the remaining Republican Senators’ that have yet to sign onto to S.604 to do so.

David Ewing, a CRP delegate also from the Sonoma County GOP, said, “It’s our goal to get this important piece of legislation passed in both chambers’ of Congress and onto the President’s desk to be signed into law. Whatever we can do to get it there, we‘re going to do! It‘s that important.”

With the official support of the California Republican Party, activists within the Party have moved one step closer to achieving their goal and the Federal Reserve Transparency Act of 2009 has moved one step closer to becoming law.

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  1. says

    The Alameda GOP really worked hard to make this happen. Thanks Walter, Jerry, and Michael for doing the elbow work. It shows what persistence can achieve. It was also a smart move on the part of the state GOP to bring conservatives tighter together. Finally Republicans are speaking the language of ‘limited, constitutional government’. We’ll see if they can walk the walk in 2010 adn 2012 where there will surely be a majority turnover in Washington DC now that pocket book politics has gained saliency. Lower taxes, less debt, and job creation is something we all want no matter what political stripe we ascribe to… I wish this kind of politik was a bit further reaching, but for now I think most of us will settle for anything. The FED is perhaps the biggest culprit in all this, and seems to have nine lives, getting off very easy yet gaining greater powers and assets through a stimulated crisis. I would love to see an audit which of course would absolutely fail since there are no ‘reserves’ just thin air which we are paying for on their ledger pad, owing trillions to the biggest bank cartel in the world.

  2. Wendy Lack says

    Great work, Walter! Congrats!

    The persistent efforts of those who have been working on this are to be commended. Now let’s work together for passage of this essential legislation!

    ~ EDITOR SAYS — Your article was brilliant, Wendy, and helped the cause greatly!

  3. David LaTour says

    The resolution in support of H.R 1207 is evidence that the California GOP is moving in the right direction. Liberty activists across the state should get involved by supporting candidates like Chuck Devore and John Dennis who understand the Constitutional role of government.

  4. says

    The California Republican Party Resolution reads:

    Whereas, the California Republican Party applauds transparency and accountability in government and rejects government secrecy involving monetary policy that impacts the entire economy; and

    Whereas, serious discussions of proposals to oversee and audit the Federal Reserve are long overdue; and

    Whereas, the Federal Reserve can enter into agreements with foreign governments and foreign central banks and the United States Congress is prohibited from overseeing these agreements; and

    Whereas, the California Republican Party believes agreements made by the Federal Reserve with foreign powers and foreign banking institutions should be subject to Congressional oversight; and

    Whereas, the United States Constitution, gives the United States Congress the authority to coin Money and regulate the value thereof and does not give Congress the authority to delegate control over monetary policy to a central bank; and

    Whereas, auditing the Federal Reserve will allow Congress to assert its constitutional authority over monetary policy and help to protect the value of the United States dollar;

    Therefore, BE IT RESOLVED, that the California Republican Party, in defense of the United States Constitution, STRONGLY URGES the representatives of the 111th United States Congress to support the Federal Reserve Transparency Act of 2009 as set forth in H.R. 1207 and S. 604.

  5. J. Max Powers says

    This is astounding – that the CRP would do anything like this really makes me wonder whether we can’t win this battle. Kudos to those involved in getting the resolution passed.