12:16pm December 10, 2012

Harry Reid Wants “Serious Conversation” with Bernanke on Audit the Fed Vote


Senate Majority Leader Harry Reid (D-Nev.) says that before there can be a vote on Sen. Rand Paul’s Federal Reserve Transparency Act of 2012 he must have a “serious conversation” with Federal Reserve Chairman Ben Bernanke first.

The bill, S.202, lies dormant in the Senate. The companion bill, H.R. 459, was passed in a 327-98 vote back in July. The younger Paul’s bill would shed light on the monetary policy decisions of the Federal Reserve that it makes with foreign governments and foreign central banks. The current Government Accountability Office audits do not touch those decisions–although an audit last year revealed that the Federal Reserve secretly lent $16 trillion, as much as the current national debt, to financial institutions in the United States and across the world.

When asked by a reporter on Thursday if Sen. Reid still harbored prior sentiments towards the Federal Reserve, and whether he would bring the bill to the Senate floor, Reid said that much of his frustration was geared toward former Fed Chairman Alan Greenspan.

“Well, some of you may remember that I said the biggest political hack in Washington was Alan Greenspan,” Reid said. “I thought that his tenure at the Federal Reserve was very, very bad. I voted against his confirmation on more than one occasion. And so my frustration came out of my problems I had with Alan Greenspan.”

“If there’s a proposal I’ll be happy to take a look at it,” he continued. “But I think Bernanke has done a good a job as – Greenspan did a bad job. And so I have great respect for Chairman Bernanke and before I would vote on this again I would have a real serious conservation with him.”

Reid’s past statements reveals that he was passionate about auditing the Federal Reserve–although those audits weren’t calling for the same kind of information to be disclosed as the kind of information the Paul bill requests.

The Nevada senator once said: “I have sponsored legislation that would call for an audit of the Federal Reserve system. I offer that amendment every year. Every year the legislation gets nowhere. I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve.”

He’s also said that “there is no entity in the world that controls our lives more than the federal reserve system” and that people don’t seem to care about the Federal Reserve.

About the Author

Christopher Goins
Christopher Goins



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  1. [...] Senate. The companion bill, H.R. 459, was passed in a 327-98 vote back in … and more … More Dec 10 [...]

  2. [...] Senate. The companion bill, H.R. 459, was passed in a 327-98 vote back in … and more … More Dec 10 [...]

  3. [...] Senate. The companion bill, H.R. 459, was passed in a 327-98 vote back in … and more … More Dec 10 [...]

  4. [...] Harry Reid Wants “Serious Conversation” with Bernanke on Audit the Fed Vote (politic365.com) [...]

  5. Why does Senator Reid need “serious conversation” with Federal Reserve Chairman before the more inclusive audits?

  6. Harry Reid is a liar and a coward!

  7. Harry Reid never explains why he needs this conversation.

  8. As in all things that are not the way normal people would act or behave, the Senator would find out what the Chairman agrees to expose about their Federal Reserve actions. I believe it’s called a compromise on the coming audits.

  9. Harry Reid is the true definition of a career politician. He is an old fart who just panders in the proper direction when it is necessary to perpetuate his career. When Greenspan was in charge of the Fed, he wanted to audit the heck out of it. When Bernanke is the head, he is getting second thoughts. How do we vote for such a joker? I can safely say that Rand Paul (and his father Ron) would want an audit of the Fed in any case. They are congruent in their thoughts and actions. Reid only supports something if it is in line with his career aspirations.

  10. The Fed clearly is hiding behind a curtain of secrecy. They have loaned $16 TRILLION – much of it to foreign borrowers? And just what was the source of those funds? And who approved this enormous risk to our financial system? As the Holiday Season approaches, give the gift that one gives to someone who has “everything” – an audit.

  11. He needs to make sure Bernanke has hidden all the evidence of corruption before he lets it go to vote.

  12. Audit the fed, support HR 459 Paul & S 202 Paul.

  13. The house of cards known as the Federal Reserve will eventually collapse on the American citizen without so much as an acknowledgement by the mainstream media. Senator Harry Reid ‘serious conversation’ is another stall tactic to prevent any audit being conducted. The value of the dollar will collapse regardless of the audit or not. The strategy undertaken by the Federal Reserve is unsustainable.

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  14. What is there to talk about? If he’s going to audit the fed, then audit the fed. $16 trillion is no small amount.

  15. I hope he brings it for a vote. Does it have a chance of passing the Senate? If so, will the President sign it?

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