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Thread: Audit the Fed?
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11-05-10, 06:10 AM #1
Audit the Fed?
http://us.mobile.reuters.com/article...0101104?ca=rdt
The above mentioned story regards the renewed push that is going to be coming from Ron Paul to audit the Federal Reserve.
Is this a partisan issue with lines drawn in the sand before I noticed it?
The article states that a push was made earlier in the year, but was repelled by the fed, which obviously means previous congressional leadership.
Ron Paul is also calling for a return of linking the dollar to gold and silver. It seems to me that this would cause some short to midterm issues, inflation, loss of competitiveness, but would be a course correction that has to happen.
Complicated issue, but without the dollar, this country has nothing.
Thoughts?
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11-07-10, 06:08 PM #3Re: Audit the Fed?
The government will not audit the FED or they may create a show for the public to believe it has been audited. Besides we are all employees of the federal reserve .By the way the Federal Reserve is not part of the governement it is owned by bankers ,it is a privately owned business.Nothing federal about the federal reserve just like Federal Express.
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11-07-10, 07:48 PM #6
Re: Audit the Fed?
As stipulated the Banking Act of 1936, the President appoints the seven members of the Board of Governors of the Federal Reserve System; they must then be confirmed by the Senate and serve for 14 years. Once appointed, Governors may not be removed from office for their policy views. The chairman and vice-chairman are chosen by the President from among the sitting Governors for four-year terms; these appointments are also subject to Senate confirmation.[1] In practice the chairman is often re-appointed, but cannot serve longer than one 14-year term as governor (or, if appointed to fill a position whose previous occupant had not served out their term, then 14 years plus the time remaining in the previous unexpired term).
By law, the chairman reports twice a year to Congress on the Federal Reserve's monetary policy objectives. He or she also testifies before Congress on numerous other issues and meets periodically with the Secretary of the Treasury.
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11-08-10, 04:45 AM #10Re: Audit the Fed?
They need to audit Fort Knox. They are gonna open that place up one day and there is not going to be ANY gold. We are all fucked. But yes, the government should audit the federal reserve and publicly post the results of said audit.
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