MO HR534

Missouri House Resolution urging U.S. Congress to pass the Federal Reserve Transparency Act requiring a complete audit of the Federal Reserve Bank for the first time in its history

Cites concerns that the Federal Reserve has eroded the dollar's purchasing power by approximately 95% since 1913 through money supply inflation and interest rate manipulation

References a 2011 Government Accountability Office report and partial audit revealing trillions of dollars used to bail out foreign banks without Congressional consent

Calls for Congressional oversight of Federal Reserve agreements with foreign powers and full disclosure of emergency lending practices

Directs the Chief Clerk to send copies of the resolution to the Federal Reserve Chairman, U.S. Treasury Secretary, Congressional leadership, and Missouri's Congressional delegation