For the first time in history, the Federal Reserve Bank may be facing an audit. On Thursday, the House Finance Committee passed a bill (HR 1207) that authorizes the Government Accountability Office (GAO) to conduct a wide-ranging audit of the Fed’s secretive deals with foreign central banks and major U.S. financial institutions.

HR 1207, sponsored by Rep. Ron Paul (R-TX), currently has 313 co-sponsors in the House from both sides of the aisle, which is a veto-proof majority. A companion bill in the Senate (S 604) has 30 co-sponsors.

Glenn Greenwald, an investigative reporter writing for Salon.com, points out what may be the most significant aspect of the passage of HR 1207: Read the full story

This is good news for Ron Paul and his Campaign for Liberty. There have been threats by the Fed and others that auditing the Fed would have devastating consequences for the American, and world, economy. What exactly are they hiding?

Check out the videos from Ron Paul and others for some more information on this topic. Read the full story