GOP leadership in the House of Representatives announcedthat legislation to thoroughly audit the secretive Federal Reserve, a wildly popular measure pushed by Rep. Ron Paul (R-Texas) for decades, will come up for a floor vote in July. Honest-money advocates and pro-transparency activists celebrated the news as a historic opportunity to rein in the central bank , which has come under heavy fire — especially in recent years — for debasing the U.S. dollar, manipulating markets, and showering big banks with trillions in bailouts.

 

The legislation, H.R. 459, already has over 225 co-sponsors in the House including an impressive roster of senior Democrats and Republicans, some of whom chair important committees.