The US Senate has voted 96-0 to audit the Federal Reserve Board’s last three years of “loans and deals” done by the US Federal Reserve Board (see link below).  This would be a one-time audit and it would not be a comprehensive audit of the Fed. I also wonder if the “loans and deals” being audited include the Fed’s secret activities carried out with Wall Street banks regarding the gold, silver and commodity markets as well as the stock markets or does it only include “loan and deals” involving TARP and other bailout money transactions. If it only includes the latter functions, the Senate has passed a very wimpy bill. The article notes that “Bipartisan frustration with the Fed has been boiling for years,” and it adds that the US House of Representatives has “more than 300 co-sponsors” for a much tougher audit bill by Rep. Ron Paul (R-TX)  which would be a “full audit proposal.”

The House of Representatives’ bill would require a much tougher audit of the Fed than the Senate bill, and the more Wall-Street friendly Senate likely passed a watered-down version of an audit bill to try and forestall the House bill. If the House finally does pass a tough audit bill, the two different audit bills will go to a conference committee where compromises will have to be made. Both houses of Congress would have to pass the same form of a compromise bill before it could go to President Obama for his signature. If the Congress ever does pass a compromise version of Fed-audit bill, Obama would reveal himself to be a puppet of Wall Street and the Fed if he did not sign the bill.

While this link is good news, I suspect the members of Congress who are in the Fed’s hip pocket will simply try and “run out the clock” to make sure nothing gets passed before this session of Congress adjourns. However, it there is another economic/financial crisis, public anger may require the Congress to pass a real bill to audit the Fed.

The US Federal Reserve Board (because it issues and controls the US dollar—the global reserve currency) is the beating heart of the modern global financial system called Babylon the Great in Revelation 17-18. Those prophecies reveal this global financial/monetary system will experience a very hard fall in the latter days, but we do not know what year this fall will occur. However, the fact that the US Senate has finally passed its first-ever bill to audit the Fed about anything is a sign that the Fed’s control over the US Congress is definitely weakening, and that is a sign that Babylon the Great’s global control is weakening as well.

In another sign debunking the “happy talk” reports that the recession is over, a report just released reveals that “more than 10% of homeowners with a mortgage had missed at least one payment in the January-March period” (emphasis added).  That is a record high percentage, and the statement doesn’t reveal just how much “higher” than 10% the number really was. Think of the implications of this statement. People always tend to pay their mortgages first due to the importance of holding on to their homes. If over 10% of all mortgage holders missed payments in the first quarter of this year, this is almost a “code red” for the housing and money-lending market. If that many Americans missed almost-sacrosanct mortgage payments, how many auto loan and credit-card payments are they also missing? This report reveals an awful lot of pain is still being felt on Main Street in this troubled economy, and the early primary elections are showing the depth of voters’ anger at incumbents. This may frighten enough Congressional incumbents into passing a real “audit the Fed” bill yet.

Babylon the Great’s system will fall in the future. Count on it. God has guaranteed its collapse in Revelation 17-18. Many cracks are now appearing in the foundations under Babylon the Great’s globalist money system, but we cannot yet predict when the ultimate fall will occur.