This announcement comes on the heels of H.R. 1207 has receiving its 290th cosponsor, a 2/3 majority. As Rep. Grayson points out in his speech, this would be the first audit of the Federal Reserve in its 96 year history.
Rep. Grayson was the first Democratic to sign on to H.R. 1207, Ron Paul’s bill to audit the Federal Reserve. He has played a significant roll in convincing fellow Democratics that H.R. 1207 was not a partisan issue, but rather that the health of our countries economic health rest on the transparency of the Federal Reserve.
This announcement comes on the day before Ron Paul’s seminal book, End the Fed is set to be released across the country. As the title would suggest, Dr. Paul sees H.R. 1207 as the first step towards abolishing the Federal Reserve system.