should the federal reserve be audited? (laws, against)
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Congressman Barney Frank, chairman of the House Financial Services Committee, said it would be “very disruptive” to run a competitive bidding process for the management of assets taken by the Federal Reserve to facilitate JP Morgan Chase’s purchase of Bear Stearns, which was awarded to BlackRock. (basar)
It should be, and while we're at it every publicly-held US company's books should be transparent. We're big boys and girls, we can manage the fallout.
Do you realize you voted no the fed reserve should not be audited yet you say here it should be? Did you hit the wrong button? The only other no vote is hiding.
The federal reserve should be abolished. The majority of Americans still think this is some government agency or federal bank or something. The Fed Reserve is privately owned corporation registered where else other then the business friendly state of Delaware, home of the fake corporation companies.
The United States Constitution says that the US govt has the power to regulate money, issue it, control it and distribute it. But that is not the case. The privately owned bank, owned by a group of elite bankers registered in Delaware, regulate, control and distribute our money instead.
This is illegal and goes against what is writen in the Constitution. But like the Dictator Bush said: The Constitution is just a G-damn piece of paper anyway. I hear Iraq needs a new Constitution written. We might as well give them ours. I mean what the hell......we ain't using it anymore.
Do you realize you voted no the fed reserve should not be audited yet you say here it should be? Did you hit the wrong button? The only other no vote is hiding.
Um...the comment was sarcastic...thought it was obvious.
There was another thread on this a couple of weeks ago from the same OP; I explained my opinion in that thread at length.
i hope americans contact their representatives and demand that the fed be audited. here is the result of glenn jacobs question to barney frank:
I was in the Boston airport late this morning flying to LaGuardia. As I was talking on my phone, I recognized Congressman Barney Frank walking past me. Not wanting to miss the opportunity, I hung up my cell phone and approached Congressman Frank. Here is our conversation:
Me: “Congressman Frank (handshake), why are you holding H.R. 1207 in committee?”
Frank: “What is 1207?”
Me: “Ron Paul’s bill to audit the Fed.”
Frank: “Oh, yeah. Ron and I have talked about that. We are going to attach it to a comprehensive monetary Fed bill.”
Me: “But you’re not going to water it down, right?”
Frank: “No, we don’t want people to trade off of what the Fed is doing so we don’t want it released the same day.”
Me: “Cause the American people deserve to know what the Fed is doing?”
Frank: “That’s what I just said. You come up to me and you’ve got a chip on your shoulder. And I don’t understand it!” Turns and walks away.
Frank’s statement that he “doesn’t want people to trade off what the Fed is doing” is absurd. An audit takes place after an action. Even releasing it the same day wouldn’t matter as one would need foreknowledge to take advantage of the Fed’s actions in the way Frank is talking about. Besides, the Fed already publishes press releases, policy statements, speeches, etc. In addition, how perverted is it that every investment decision is subject to the actions of a small group of central planners?
When does the FED ever make the right moves? They are always too late or too long with whatever policy they have in place. The FED is a failure. The US economy and the American people don't need a third party central banking cartel to manipulate the economy for the sake of financial elites' private profits at the public's never ending expense and ongoing socio-economic demise.
if americans agree with that assessment, they need to contact their representatives to have the federal reserve audited.
According to a 250-page report submitted to Congress by Neil Barofsky, the Special Inspector General in charge of oversight of the Troubled Asset Relief Program (TARP), the Ben Bernanke-led Federal Reserve and the Timothy Geithner-led US Treasury Department are obstructing justice by not cooperating with efforts to maintain transparency in the federal government’s economic bailout program. (rockwell)
We have had Central Economic Planning since the creation of the Federal Reserve System. It has, along with the World Bank and International Monetary Fund, operated against the interest of most of the people of the world ever since. The Fed protects existing wealth and does not operate in our, or any other, country’s best interest. The Fed supports the relatively few Masters of the Universe that run international finance.
Yes, this organization, along with the WB and IMF absolutely need a public audit with the results available to anyone that desires to read it. There should also be a Big Banking for Dummies book that explains the audits.
Should it be? Probably. Do I want it to be? Probably not. I liked it when I thought these people knew what they were doing and really gave a d*mn. I don't know if I could take it!
Should it be? Probably. Do I want it to be? Probably not. I liked it when I thought these people knew what they were doing and really gave a d*mn. I don't know if I could take it!
i do understand the concern but if you postpone the audit where are you? the more they can hide the worse it gets for the american taxpayer. transparency at least limits the damage that they can do to the country!
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Yes
