Federal Reserve
- Thread starter BIGOSUFAN
- Start date
Absolutely it should be audited. Shows you what forces really control the country (and they are no friends of liberty).
Audit has no relevance to the fed, nor does the fed have any relevance to reality. Impotence we have met you: you are the fed.
As long as there is a revolving door between Wall Street and the Fed it will not get audited.
The Fed's financial statements are audited, their monetary policy operations are exempt from audit by law.
No clue, I'm no expert on the Fed. I do know they hold the big stick with respect to our economy via the money supply and have had no problem wielding it the past 8 years. I believe in full transparency in government and a majority of the House and Senate believe we don't currently have that.
Again, not a huge fan of the Fed, but what is it exactly that isn't being revealed? Compare and contrast vs. other various quasi-governmental entities and administrative agencies.
Again, no expert on the Fed or any other government agency so I don't know how it differs from other agencies, but what I understand is it would make their meeting by meeting monetary policy decisions subject to Congressional review, which they currently are not. It would also make their negotiations with foreign central banks subject to Congressional review. It's not like I trust Congress, but I trust the Fed board working in secrecy even less.
If the truth be told, a majority in the Congress don't want it either. Much like their campaign rhetoric what the say they will do and what happens are two much different things.
I don't think there is enough gold left held by the government to actually back the monetary system without massive devaluation of our currency.
So, is the concern the Fed is not following policy? Is that what people want them audited against?
I think it has to do with understanding why decisions are made and whose interests are being served by those decisions.
That's what I think, too. That's a request for more transparency, which in this case has nothing to do with an audit.
