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The Federal Reserve works in secrecy without governmental oversight and having all the power to dictate the value of our money, and how it holds its value over time. HR 1207 is a step in the right direction to end the evils of the Federal Reserve. The Fed can create trillions of dollars and we don't even know where it is spent. Congress doesn't currently have the right to know. That's what HR1207 will provide--the right for Congress to audit the Fed in order to know what the Federal Reserve is doing with trillions of dollars, and to know what deals are being made with foreign countries with regards to our currency. Visit Campaign for Liberty to know more.
Currently, HR 1207 has enough sponsors to go to be discussed and voted on in Congress. Once it passes there, more effort will need to be made to get it through the Senate where Lobbyists are already (and always) hard at work.