House Resolution 1207: Why It Is Important

Ron Paul's Campaign for Liberty recently introduced a bill to the House of Representatives that, if passed, will have tremendous impact on the future of our currency. (Photos.com)

There is a bill currently circulating Congress, and it’s passing could bring tremendous long-term changes to your dollar.

H.R. 1207, also known as the “Audit the Fed Bill” has been drafted and introduced by Texas-based U.S. Representative Ron Paul. The bill has been gaining momentum, earning more than 100 cosponsors within the House coupled by the introduction of a companion bill in the Senate (S. 604).

Many people became familiar with Representative Ron Paul during his most recent campaign for president in the 2008 race. Mr. Paul drew much of his support from internet users and grass-roots activists who found his simple message of liberty and constitutional governance a much needed remedy to many of the problems we face as a nation.

Although he was not nominated by the Republican Party, Mr. Paul achieved a fair degree of success getting his message about individual freedom across and has been cited as being quite pleased with what his most recent campaign has accomplished.

Amongst the campaign’s achievements was a record for the largest, single-day fund-raising drive which totaled over 6 million dollars in donations, many of which came from individuals and families across the country.

More recently, Representative Paul has been leading a new campaign, The Campaign for Liberty, which includes a number of initiatives including the movement to audit the Federal Reserve Bank.

In keeping with the views and opinions of this author, we will be following this campaign, including its proposed H.R. 1207 and sharing some of its developments with our readers as they happen during the weeks and months ahead. As illustrated in issues past, the Federal Reserve Bank, and its control over the country’s money supply could pose risk to the stability of our currency. Therefore, holding the Fed to more accountability and disclosure is an important topic to consider for any hardworking taxpayer.

After all, the three primary branches of government: executive, judicial, and legislative, are subjected to various processes of checks and balances. Shouldn’t the institutional body responsible for creating our cash be held to the same, if not more strict standards?