Home › Forums › Financial Markets/Economics › Unbelieveable Fed Audit????
- This topic has 40 replies, 4 voices, and was last updated 15 years, 8 months ago by
patientrenter.
-
AuthorPosts
-
March 24, 2009 at 4:36 PM #15359March 24, 2009 at 5:01 PM #372563
patientrenter
ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
March 24, 2009 at 5:01 PM #372846ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
March 24, 2009 at 5:01 PM #373021ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
March 24, 2009 at 5:01 PM #373064ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
March 24, 2009 at 5:01 PM #373177ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
March 25, 2009 at 9:07 AM #372764aldante
ParticipantMy take is that the Fed does a lot more then “print money”. They loan it also. They also seem to change interest rates. They also set Reg T, which has a massive effect on capital markets. Their policies/rules affect every aspect of American business and homeownership. So I guess I disagree with your contention.
If Congress/Executive have OBM why would it hurt to have the Fed audited.
March 25, 2009 at 9:07 AM #373378ParticipantMy take is that the Fed does a lot more then “print money”. They loan it also. They also seem to change interest rates. They also set Reg T, which has a massive effect on capital markets. Their policies/rules affect every aspect of American business and homeownership. So I guess I disagree with your contention.
If Congress/Executive have OBM why would it hurt to have the Fed audited.
March 25, 2009 at 9:07 AM #373047ParticipantMy take is that the Fed does a lot more then “print money”. They loan it also. They also seem to change interest rates. They also set Reg T, which has a massive effect on capital markets. Their policies/rules affect every aspect of American business and homeownership. So I guess I disagree with your contention.
If Congress/Executive have OBM why would it hurt to have the Fed audited.
March 25, 2009 at 9:07 AM #373221ParticipantMy take is that the Fed does a lot more then “print money”. They loan it also. They also seem to change interest rates. They also set Reg T, which has a massive effect on capital markets. Their policies/rules affect every aspect of American business and homeownership. So I guess I disagree with your contention.
If Congress/Executive have OBM why would it hurt to have the Fed audited.
March 25, 2009 at 9:07 AM #373264ParticipantMy take is that the Fed does a lot more then “print money”. They loan it also. They also seem to change interest rates. They also set Reg T, which has a massive effect on capital markets. Their policies/rules affect every aspect of American business and homeownership. So I guess I disagree with your contention.
If Congress/Executive have OBM why would it hurt to have the Fed audited.
March 25, 2009 at 5:35 PM #373430TheBreeze
Participant[quote=patientrenter]The Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
[/quote]The point is not to find out stuff that the Fed itself doesn’t know, but to let the public (or hell even anyone outside the actual Fed itself) know what the hell they are doing behind close doors. Who are they giving all this money too? Is the Fed corrupted?
Right now Congress doesn’t know what the Fed is doing because the Fed doesn’t have to tell anyone.
March 25, 2009 at 5:35 PM #373586Participant[quote=patientrenter]The Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
[/quote]The point is not to find out stuff that the Fed itself doesn’t know, but to let the public (or hell even anyone outside the actual Fed itself) know what the hell they are doing behind close doors. Who are they giving all this money too? Is the Fed corrupted?
Right now Congress doesn’t know what the Fed is doing because the Fed doesn’t have to tell anyone.
March 25, 2009 at 5:35 PM #373473Participant[quote=patientrenter]The Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
[/quote]The point is not to find out stuff that the Fed itself doesn’t know, but to let the public (or hell even anyone outside the actual Fed itself) know what the hell they are doing behind close doors. Who are they giving all this money too? Is the Fed corrupted?
Right now Congress doesn’t know what the Fed is doing because the Fed doesn’t have to tell anyone.
March 25, 2009 at 5:35 PM #372974Participant[quote=patientrenter]The Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
[/quote]The point is not to find out stuff that the Fed itself doesn’t know, but to let the public (or hell even anyone outside the actual Fed itself) know what the hell they are doing behind close doors. Who are they giving all this money too? Is the Fed corrupted?
Right now Congress doesn’t know what the Fed is doing because the Fed doesn’t have to tell anyone.
-
AuthorPosts
- You must be logged in to reply to this topic.