[DannyTN]

The FED is already audited. Every dollar is accounted for. Deloitte & Touche is the independent auditor. Their sign off can be seen in the Fed's financial statements.

What Paul want's to do, is audit the FED's decision making process. Basically he wants the FED to have to account to Congress on a continual basis on how they arrive at every decision they make.

Effectively congress will be able to second guess every move the FED makes. You'll have Pelosi and Reid telling the FED that they should be making monetary policy that increases the number of bath houses in San Francisco instead of keeping the dollar stable and unemployment low.

It's a bad move.

And it plays into Soros' hand. The FED keeps things stable and when things are stable, traders like Soros can't make money.

The George Soros Ron Paul Connection

[xzins]

I’m sure what a financial audit is, but I’m not sure at all what an audited decision-making process is.

Can you explain?

(serious question, DT)

[newzjunkey]

And it plays into Soros' hand. The FED keeps things stable and when things are stable, traders like Soros can't make money.

Ha-ha!! Very funny.

The Fed already serves two masters in conducting monetary policy at the demand of Congress: price stability and maximum employment.

It needs to go back to one chartered purpose.

[Sirius Lee]

What Paul want's to do, is audit the FED's decision making process. Basically he wants the FED to have to account to Congress on a continual basis on how they arrive at every decision they make.

The Fed shouldn't even exist. Congress made a mistake in ceding the power to a bunch of filthy banksters who were buggering each other at Jeckyll Island. The least it can do is provide some oversight regarding a bunch of private banks to whom every last man, woman and child in this nation is hypothecated.

As a matter of fact, f*ck the Federal Reserve. I want my 16 Trillion with a "T" dollars back.

[Raycpa]

The Board is required by the Federal Reserve Act (the Act) to report its operations to the Speaker of the House of Representatives. The Act also requires the Board, each year, to order a financial audit of each Federal Reserve Bank and to publish each week a statement of the financial condition of each such Federal Reserve Bank and a consolidated statement for all of the Federal Reserve Banks. Accordingly, the Board believes that the best financial disclosure consistent with law is achieved by issuing separate financial statements for the Board and for the Federal Reserve Banks. Therefore, the accompanying financial statements include only the results of operations and activities of the Board. Combined financial statements for the Federal Reserve Banks are included in the Board's annual report to the Speaker of the House of Representatives.

[dragnet2]

The FED is already audited.

[Theoria]

The audit as of now leaves out several things:

Fed’s monetary policy actions or decisions, including discount window lending (direct loans to financial institutions), open-market operations and any other transactions made under the direction of the Federal Open Market Committee. It also can’t look into the Fed’s transactions with foreign governments, foreign central banks and other international financing organizations.

You always leave that part out.

[CodeToad]

“The FED is already audited. Every dollar is accounted for.”

NO, it isn’t. The fed has all kinds of money is gives out no one knows where it goes.

[noinfringers2]

That the Fed Reserve has any function in the monetary program of the USA is a tragic result of international bankers under Wilson getting a foothold into the USA banking system. That should never have been allowed and people forget that Pres. Kennedy tried to undercut the power of Fed. Reserve notes with USA Treasury dollars. Too bad for the USA Kennedy was killed under still questionable circumstances.