[quote=markmax33][quote=SK in CV][quote=markmax33]
SK – LOL! These aren’t full fed audits! These are the fake audits they put out! Don’t you know the first partial audit was done in 2008![/quote]
LOL! You don’t know what an audit is![/quote]
SK,
I’m sorry I came at your with the 30 year old language. I know that gets you older guys riled up and I don’t intend to do that. Here are the areas exempt from an annual audit of the Federal reserve, and this includes almost everything the do:
Exemptions to the Scope of GAO Audits
The Government Accounting Office does not have complete access to all aspects of the Federal Reserve System. The law excludes the following areas from GAO inspections (31 USCA §714):
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks,
securities credit, interest on deposits, open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items.[/quote]
Let me get this straight. The fed was never audited before a couple years ago because anything that isn’t on the exclusion list is a fake audit. And the only real audit is one that includes the specific things that you want it to include. Do I have that right?
And the link wasn’t to GAO audits. It was to reports that included audits done by independent outside auditors. Which are done every year.
