Federal Reserve Board
Abolition Act Hits Congress
Freedom Outpost – Tim Brown –
2/1/2013
On January 3, 2013
Congressman Paul Broun, Jr. (R-GA) introduced HR 73,
The
Federal Reserve Board Abolition Act. The thrust of the legislation is to
“abolish the Board of Governors of the Federal Reserve System and the Federal
reserve banks, to repeal the Federal Reserve Act, and for other purposes.” It
looks like Ron Paul’s consistent cries for dealing with the Federal Reserve
have not fallen on deaf ears, nor has the idea dissipated from elected
representatives since he left office.
This piece of legislation
was not the only one to be introduced. House Bill HR 77, the Free Competition in Currency Act of
2013, was also introduced by Rep. Broun. This legislation seeks “to repeal the
legal tender laws, to prohibit taxation on certain coins and bullion, and to
repeal superfluous sections related to coinage.”
But Broun wasn’t about to
stop there. He also help in pushing two other pieces of legislation: HR 24, the Federal Reserve Transparency Act of 2013, which
is put forth “To require a full audit of the Board of Governors of the Federal
Reserve System and the Federal reserve banks by the Comptroller General of the
United States,” and HR
33,
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