Unbelieveable Fed Audit????

[aldante]

I had no idea that our Federal Reserve is not auditied. I can not believe this. I know that we have the OMB and other governmental bodies that audit Congress and the Executive but the Federal Reserve is exempt.

If this turns your stomach you can contact your representitive (like I just did) and ask them to co-sponsor HR 1207. This is congressman Ron Paul bill designed to audit the Fed.

BTW, I always value others opinions. I can not think of one single (legitimate) reason why this bill should not be law. Please let me know becasue when something seems this black and white to me it usually means that I am missing something.

[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.

“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.

[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.

“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.

[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.

“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.

[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.

“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.

[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.

“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.

[aldante]

My 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.

[aldante]

My 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.

[aldante]

My 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.

[aldante]

My 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.

[aldante]

My 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.

[TheBreeze]

[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.

[TheBreeze]

[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.

[TheBreeze]

[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.

[TheBreeze]

[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.

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