[SK in CV]

Keep your eye on the ball.

[quote=investor][quote=SK in CV][quote=investor]
I do not trust any entity that has the money supply of the US and the reserve currency of the world in its hands and is not completly outright on where the money is. It’s clear that congress has no idea where the trillions are. Congress is stopped from finding out where by the fed and some people want to trust the fed that its doing the right thing? Where does working in secrecy lead to?[/quote]

You’re looking in the wrong hole. No matter how long you look there, you won’t find it. It’s not where the money is, its not where the money went. It’s the policy. It’s the oversight (or more importantly, lack thereof). An audit, no matter how comprehensive will NEVER tell you why they lowered or raised interest rates. Why they loosened or tightened money supply. Why they allowed or prohibited member banks from conducting business the way they do. The great power of the fed is not in their actual dollars. It’s the influence they have over the economy.

[SK in CV]

Keep your eye on the ball.

[quote=investor][quote=SK in CV][quote=investor]
I do not trust any entity that has the money supply of the US and the reserve currency of the world in its hands and is not completly outright on where the money is. It’s clear that congress has no idea where the trillions are. Congress is stopped from finding out where by the fed and some people want to trust the fed that its doing the right thing? Where does working in secrecy lead to?[/quote]

You’re looking in the wrong hole. No matter how long you look there, you won’t find it. It’s not where the money is, its not where the money went. It’s the policy. It’s the oversight (or more importantly, lack thereof). An audit, no matter how comprehensive will NEVER tell you why they lowered or raised interest rates. Why they loosened or tightened money supply. Why they allowed or prohibited member banks from conducting business the way they do. The great power of the fed is not in their actual dollars. It’s the influence they have over the economy.

[SK in CV]

Keep your eye on the ball.

[quote=investor][quote=SK in CV][quote=investor]
I do not trust any entity that has the money supply of the US and the reserve currency of the world in its hands and is not completly outright on where the money is. It’s clear that congress has no idea where the trillions are. Congress is stopped from finding out where by the fed and some people want to trust the fed that its doing the right thing? Where does working in secrecy lead to?[/quote]

You’re looking in the wrong hole. No matter how long you look there, you won’t find it. It’s not where the money is, its not where the money went. It’s the policy. It’s the oversight (or more importantly, lack thereof). An audit, no matter how comprehensive will NEVER tell you why they lowered or raised interest rates. Why they loosened or tightened money supply. Why they allowed or prohibited member banks from conducting business the way they do. The great power of the fed is not in their actual dollars. It’s the influence they have over the economy.

[SK in CV]

Keep your eye on the ball.

[quote=investor][quote=SK in CV][quote=investor]
I do not trust any entity that has the money supply of the US and the reserve currency of the world in its hands and is not completly outright on where the money is. It’s clear that congress has no idea where the trillions are. Congress is stopped from finding out where by the fed and some people want to trust the fed that its doing the right thing? Where does working in secrecy lead to?[/quote]

You’re looking in the wrong hole. No matter how long you look there, you won’t find it. It’s not where the money is, its not where the money went. It’s the policy. It’s the oversight (or more importantly, lack thereof). An audit, no matter how comprehensive will NEVER tell you why they lowered or raised interest rates. Why they loosened or tightened money supply. Why they allowed or prohibited member banks from conducting business the way they do. The great power of the fed is not in their actual dollars. It’s the influence they have over the economy.

[SK in CV]

[quote=investor]To SK in CV
OK. Then why does Ron Paul state that the fed has not been audited since its inception in 1913? Why do so many other authors also say the same thing? How can beranake refuse to state where all of the bail out money has gone,aside from 30 B to canada, as stated in john lott’s artical?(I don’t use the fed’s own web page as a reliable source.) And, if the fed did pay back every penny of interest that it receives from other sources, then I would not have a problem with the fed being there (assuming that the bailouts were also in the american people’s interest and not the fed’s buddies interest.)What is worse, I have read that our gold supply is also being transfered abroad by the fed. Fort knox’s gold supply has not been audited for about 55 years, even though it is supposed to be every year. Can you explain all of this?[/quote]

Yes, I can explain all of it.

Sometimes Ron Paul is right. Sometimes he’s wrong. This time he’s wrong. As are other authors who make the same claim. Do you think a big international consulting firm like Deloitte Touche would allow their name on an audit report if they didn’t actually do thw work?

Bernanke can refuse to tell congress things because he’s Ben Bernanke. Head of the fed. You or I might get thrown in jail for doing what he has done. But for at least the last 40 years, maybe longer, congress is afraid of the fed. I can only speculate as to why. One of the reasons, I suspect, is that there are only a few of the 535 congressmen that understand finance. (Sadly, Chris Dodd and Barney Frank, both politicians who I adore, aren’t among them. Bernie Sanders, the only self-identified socialist of the bunch, does.) It shouldn’t be that way. But it is. Hopefully that will change.

As far as gold is concerned, eh, I don’t pay much attention to it. It’s value as a barometer of anything meaningful is a social and political construct, exactly like the dollar and the euro. I get paid in dollars not gold. So I pay attention to the dollar. My wife likes gold. Beyond that, it has no value to me. Nor does information about the gold supply.

[SK in CV]

[quote=investor]To SK in CV
OK. Then why does Ron Paul state that the fed has not been audited since its inception in 1913? Why do so many other authors also say the same thing? How can beranake refuse to state where all of the bail out money has gone,aside from 30 B to canada, as stated in john lott’s artical?(I don’t use the fed’s own web page as a reliable source.) And, if the fed did pay back every penny of interest that it receives from other sources, then I would not have a problem with the fed being there (assuming that the bailouts were also in the american people’s interest and not the fed’s buddies interest.)What is worse, I have read that our gold supply is also being transfered abroad by the fed. Fort knox’s gold supply has not been audited for about 55 years, even though it is supposed to be every year. Can you explain all of this?[/quote]

Yes, I can explain all of it.

Sometimes Ron Paul is right. Sometimes he’s wrong. This time he’s wrong. As are other authors who make the same claim. Do you think a big international consulting firm like Deloitte Touche would allow their name on an audit report if they didn’t actually do thw work?

Bernanke can refuse to tell congress things because he’s Ben Bernanke. Head of the fed. You or I might get thrown in jail for doing what he has done. But for at least the last 40 years, maybe longer, congress is afraid of the fed. I can only speculate as to why. One of the reasons, I suspect, is that there are only a few of the 535 congressmen that understand finance. (Sadly, Chris Dodd and Barney Frank, both politicians who I adore, aren’t among them. Bernie Sanders, the only self-identified socialist of the bunch, does.) It shouldn’t be that way. But it is. Hopefully that will change.

As far as gold is concerned, eh, I don’t pay much attention to it. It’s value as a barometer of anything meaningful is a social and political construct, exactly like the dollar and the euro. I get paid in dollars not gold. So I pay attention to the dollar. My wife likes gold. Beyond that, it has no value to me. Nor does information about the gold supply.

[SK in CV]

[quote=investor]To SK in CV
OK. Then why does Ron Paul state that the fed has not been audited since its inception in 1913? Why do so many other authors also say the same thing? How can beranake refuse to state where all of the bail out money has gone,aside from 30 B to canada, as stated in john lott’s artical?(I don’t use the fed’s own web page as a reliable source.) And, if the fed did pay back every penny of interest that it receives from other sources, then I would not have a problem with the fed being there (assuming that the bailouts were also in the american people’s interest and not the fed’s buddies interest.)What is worse, I have read that our gold supply is also being transfered abroad by the fed. Fort knox’s gold supply has not been audited for about 55 years, even though it is supposed to be every year. Can you explain all of this?[/quote]

Yes, I can explain all of it.

Sometimes Ron Paul is right. Sometimes he’s wrong. This time he’s wrong. As are other authors who make the same claim. Do you think a big international consulting firm like Deloitte Touche would allow their name on an audit report if they didn’t actually do thw work?

Bernanke can refuse to tell congress things because he’s Ben Bernanke. Head of the fed. You or I might get thrown in jail for doing what he has done. But for at least the last 40 years, maybe longer, congress is afraid of the fed. I can only speculate as to why. One of the reasons, I suspect, is that there are only a few of the 535 congressmen that understand finance. (Sadly, Chris Dodd and Barney Frank, both politicians who I adore, aren’t among them. Bernie Sanders, the only self-identified socialist of the bunch, does.) It shouldn’t be that way. But it is. Hopefully that will change.

As far as gold is concerned, eh, I don’t pay much attention to it. It’s value as a barometer of anything meaningful is a social and political construct, exactly like the dollar and the euro. I get paid in dollars not gold. So I pay attention to the dollar. My wife likes gold. Beyond that, it has no value to me. Nor does information about the gold supply.

[SK in CV]

[quote=investor]To SK in CV
OK. Then why does Ron Paul state that the fed has not been audited since its inception in 1913? Why do so many other authors also say the same thing? How can beranake refuse to state where all of the bail out money has gone,aside from 30 B to canada, as stated in john lott’s artical?(I don’t use the fed’s own web page as a reliable source.) And, if the fed did pay back every penny of interest that it receives from other sources, then I would not have a problem with the fed being there (assuming that the bailouts were also in the american people’s interest and not the fed’s buddies interest.)What is worse, I have read that our gold supply is also being transfered abroad by the fed. Fort knox’s gold supply has not been audited for about 55 years, even though it is supposed to be every year. Can you explain all of this?[/quote]

Yes, I can explain all of it.

Sometimes Ron Paul is right. Sometimes he’s wrong. This time he’s wrong. As are other authors who make the same claim. Do you think a big international consulting firm like Deloitte Touche would allow their name on an audit report if they didn’t actually do thw work?

Bernanke can refuse to tell congress things because he’s Ben Bernanke. Head of the fed. You or I might get thrown in jail for doing what he has done. But for at least the last 40 years, maybe longer, congress is afraid of the fed. I can only speculate as to why. One of the reasons, I suspect, is that there are only a few of the 535 congressmen that understand finance. (Sadly, Chris Dodd and Barney Frank, both politicians who I adore, aren’t among them. Bernie Sanders, the only self-identified socialist of the bunch, does.) It shouldn’t be that way. But it is. Hopefully that will change.

As far as gold is concerned, eh, I don’t pay much attention to it. It’s value as a barometer of anything meaningful is a social and political construct, exactly like the dollar and the euro. I get paid in dollars not gold. So I pay attention to the dollar. My wife likes gold. Beyond that, it has no value to me. Nor does information about the gold supply.

[SK in CV]

[quote=investor]To SK in CV
OK. Then why does Ron Paul state that the fed has not been audited since its inception in 1913? Why do so many other authors also say the same thing? How can beranake refuse to state where all of the bail out money has gone,aside from 30 B to canada, as stated in john lott’s artical?(I don’t use the fed’s own web page as a reliable source.) And, if the fed did pay back every penny of interest that it receives from other sources, then I would not have a problem with the fed being there (assuming that the bailouts were also in the american people’s interest and not the fed’s buddies interest.)What is worse, I have read that our gold supply is also being transfered abroad by the fed. Fort knox’s gold supply has not been audited for about 55 years, even though it is supposed to be every year. Can you explain all of this?[/quote]

Yes, I can explain all of it.

Sometimes Ron Paul is right. Sometimes he’s wrong. This time he’s wrong. As are other authors who make the same claim. Do you think a big international consulting firm like Deloitte Touche would allow their name on an audit report if they didn’t actually do thw work?

Bernanke can refuse to tell congress things because he’s Ben Bernanke. Head of the fed. You or I might get thrown in jail for doing what he has done. But for at least the last 40 years, maybe longer, congress is afraid of the fed. I can only speculate as to why. One of the reasons, I suspect, is that there are only a few of the 535 congressmen that understand finance. (Sadly, Chris Dodd and Barney Frank, both politicians who I adore, aren’t among them. Bernie Sanders, the only self-identified socialist of the bunch, does.) It shouldn’t be that way. But it is. Hopefully that will change.

As far as gold is concerned, eh, I don’t pay much attention to it. It’s value as a barometer of anything meaningful is a social and political construct, exactly like the dollar and the euro. I get paid in dollars not gold. So I pay attention to the dollar. My wife likes gold. Beyond that, it has no value to me. Nor does information about the gold supply.

[SK in CV]

When you say commercial real estate, that covers a whole lot of territory. Retail, hotels, industrial, office, public storage, mixed use, high rise, free standing. The market is different in each one of them. The ups and downs in each move on their own tracks (somewhat like high end and low end residential, though there is at least one of those categories that has continued to perform very well over the last few years.) The current investment model is different in each one of them. The financing is not always the same either.

In most categories,(though not all) trends tend to follow residential rather than lead. With the exception of hotels, trends tend evolve slowly, both up and down.

Comparing commercial real estate to residential real estate is like comparing apples to fish. They’re not even in the same family. And when someone tells you that commercial real estate is “mostly” anything, they don’t know what they’re talking about.

[SK in CV]

When you say commercial real estate, that covers a whole lot of territory. Retail, hotels, industrial, office, public storage, mixed use, high rise, free standing. The market is different in each one of them. The ups and downs in each move on their own tracks (somewhat like high end and low end residential, though there is at least one of those categories that has continued to perform very well over the last few years.) The current investment model is different in each one of them. The financing is not always the same either.

In most categories,(though not all) trends tend to follow residential rather than lead. With the exception of hotels, trends tend evolve slowly, both up and down.

Comparing commercial real estate to residential real estate is like comparing apples to fish. They’re not even in the same family. And when someone tells you that commercial real estate is “mostly” anything, they don’t know what they’re talking about.

[SK in CV]

When you say commercial real estate, that covers a whole lot of territory. Retail, hotels, industrial, office, public storage, mixed use, high rise, free standing. The market is different in each one of them. The ups and downs in each move on their own tracks (somewhat like high end and low end residential, though there is at least one of those categories that has continued to perform very well over the last few years.) The current investment model is different in each one of them. The financing is not always the same either.

In most categories,(though not all) trends tend to follow residential rather than lead. With the exception of hotels, trends tend evolve slowly, both up and down.

Comparing commercial real estate to residential real estate is like comparing apples to fish. They’re not even in the same family. And when someone tells you that commercial real estate is “mostly” anything, they don’t know what they’re talking about.

[SK in CV]

When you say commercial real estate, that covers a whole lot of territory. Retail, hotels, industrial, office, public storage, mixed use, high rise, free standing. The market is different in each one of them. The ups and downs in each move on their own tracks (somewhat like high end and low end residential, though there is at least one of those categories that has continued to perform very well over the last few years.) The current investment model is different in each one of them. The financing is not always the same either.

In most categories,(though not all) trends tend to follow residential rather than lead. With the exception of hotels, trends tend evolve slowly, both up and down.

Comparing commercial real estate to residential real estate is like comparing apples to fish. They’re not even in the same family. And when someone tells you that commercial real estate is “mostly” anything, they don’t know what they’re talking about.

[SK in CV]

When you say commercial real estate, that covers a whole lot of territory. Retail, hotels, industrial, office, public storage, mixed use, high rise, free standing. The market is different in each one of them. The ups and downs in each move on their own tracks (somewhat like high end and low end residential, though there is at least one of those categories that has continued to perform very well over the last few years.) The current investment model is different in each one of them. The financing is not always the same either.

In most categories,(though not all) trends tend to follow residential rather than lead. With the exception of hotels, trends tend evolve slowly, both up and down.

Comparing commercial real estate to residential real estate is like comparing apples to fish. They’re not even in the same family. And when someone tells you that commercial real estate is “mostly” anything, they don’t know what they’re talking about.

[SK in CV]

[quote=aldante]SV,
I think that the main line of the audit should be focused on obligations that the FED has with counter parties, and what the value is of thier entire balance sheet and what comprises their balance sheet. Its funny but Ron Paul was ridiclued by Ben Bernanke about the possiblity of the US funding part of the Greek crisis about 3 months ago now and it turns out our committment may be $60 billion or so.

Who should perform? Great question. I am pretty sure that HB 1207 and SB 604 say that entity should be the CBO. I don’t know enough either way to advocate for against that recommendation. I do disagree with you on your premise that “we” would not find out new information. I think that the majority of the American population would be appaled at what this independant organization has gotten us into. I don’t know the specifics but the notion that we live in a free society will be smashed when the FEDS’ committments are revealed. I think it would amount to the Germans funding Greek workers retirements at 50 years old x 100. I think that it will be difficult to control mass anger in the US at that point.
Bottom line is that we as a country (not individually) have been living beyond our means since 1982 and our debt needs to be either restructured or paid. The FED has been the bartenter – and Americans the drunks. So that is why-btw I am sitting it out in real estate….I think a lot more hurt is coming down the pipe.[/quote]
Again, I don’t know where to begin.

The fed has little in the way of outstanding obligations other than dollars in circulation and cash on deposit from federally chartered banks and the US Treasury. This makes up over 90% of the feds obligations. You’ll have to explain where that examination will lead.

The US did not fund $60 billion to aid in the crisis in Greece. It granted a credit line to the IMF a year ago, with exposure estimtated to be $5 billion. Many experts consider that estimate high.

I think you’re actually referring to S 3217 and HR 4173, which are the current bills headed to reconciliation. they both grant the examination powers to the GAO.

I never asserted that we would not find new information. Only that if the audit was consistent with what are normally called “audits”, then there would be little if any new information. Traditional audits have already been done. So the scope has to be redirected. Which is why I asked for your recommendations, that if I understand what you’re saying correctly, will lead nowhere. Even a different approach to “valuing the assets” may not be very informative.

You totally lost me on the free society thing. And with the “FEDS’ committments are revealed” thing. What do you think the secret fed committments are?

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