Sen. Paul would tie Yellen appointment to Fed audit legislation

10:22a ICT Saturday, October 26, 2013

Dear Friend of GATA and Gold:

While it's probably just a bit of posturing that will pass, Kentucky Sen. Rand Paul is talking about delaying the appointment of Janet Yellen as chairwoman of the Federal Reserve until he can get a vote on his legislation, inherited from his father, former U.S. Rep. Ron Paul, to require full auditing of the Fed:

http://www.reuters.com/article/2013/10/25/us-usa-fed-yellen-idUSBRE99N1F...

The New York Sun approves editorially. The Fed audit legislation, the Sun writes, "would involve not just an accounting of the institution's balance sheet and gold holdings but also an examination of how the Federal Reserve System operates, of its foreign entanglements, and of its monetary philosophy. The Fed's most private records and correspondence, one can imagine, would have to be opened to auditors, along with its unredacted minutes. It strikes us that this is not too much to ask of the Senate as the Fed commences its second century."

The Sun's editorial is headlined "Rand Paul vs. Janet Yellen" and it's posted here:

http://www.nysun.com/editorials/paul-v-yellen/88470/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.