Audit the Head!
Posted on 02/12/2015 8:31:25 AM PST by TangoLimaSierra
Sen. Rand Paul isn't happy that the Federal Reserve is mobilizing against his legislation that would subject the central bank's monetary policy decisions to an audit.
"It is alarming that the Federal Reserve, which was granted Monopoly money-making power, is now specifically trying to stop my legislation," the Kentucky Republican wrote in a column published by the conservative publication Breitbart Tuesday.
"The Fed, with unlimited ability to print money, now prints that money to lobby against congressional oversight," Paul added. "It is a disgrace and every citizen in the land should rise up and say: We the people are in charge and we demand an audit!"
A number of Federal Reserve officials have cautioned against Congress legislating a new monetary policy audit, as Paul has promoted his legislation. His bill, the Federal Reserve Transparency Act of 2015, has 30 Senate co-sponsors, and Paul has pressed the case for it in Iowa as well as through social media.
(Excerpt) Read more at washingtonexaminer.com ...
In Soviet Amerika, government audits YOU.
I guess Son Of Paul forgot that...
The Federal Reserve in refusing to submit to Congressional oversight is voiding its mandate and it should be dissolved and its officers arrested, tried, and imprisoned for their acts of treason against our economy and, by extension, our national security.
The Fed thinks an audit is “misguided”.
An enbezzling bank manager thinks the same.
Many "little folk" are more savvy than the elite realize. It comes from trying to live a financially comfortable life and realizing what gets in the way. People know the banking system isn't working for them. It's a one-way street....you owe money, you pay interest. You save money, you don't get enough interest to pay bank fees.
Rand Paul is looking better every day. The others have to stop tip-toeing around these issues that the Chamber of Commerce and global/elitist/banking interests control through the Republican Party.
It's not impossible he could pull in democratic and independent and younger voters to vote for him in Republican primaries if there's no contest in the Democratic primaries.
As long as printed money is permitted within America, we can never be free. The Federal Reserve must be abolished entirely, and those who helped maintain this corrupt system must all be executed for trreason.
If they were to audit the Fed they would clearly see that Bernie Maddoff was pure & chaste in comparison.
In the same vein, it would be alarming to me that the treasury would be opposed to a new audit/accounting of Fort Knox.
The world would be cast into the deepest, darkest depression ever known if people really knew what is being hidden.
The thieves are living out their juicy lives, don't want any kind of chaos to disrupt their fun in the sun...only when they get close to death, fulfilled their bucket lists of debauchery, will the truth be allowed to come out...and then the SHTF.
The serfs are such amusing little things.
If the Fed argument is that an audit would remove policy surprise value, make the audits go up to, say 2 years ago, or 3 years ago... it would still be enough to find the gold, evaluate the crap loans the Fed bought to get them off the market and onto its balance sheet,etc, etc.
If that shrouded cesspool ever gets cracked open so the light of day can shine in, the stink will gag just about everyone.
Is there something to hide?
The simple test to apply is this; if you were them, would you go ahead and feather your own next, especially if no one would ever know?
Let’s be honest with ourselves. Like Bill Clinton said years ago when pressed as to why he did what he did....it was because “he could.”
If that shrouded cesspool ever gets cracked open so the light of day can shine in, the stink will gag just about everyone.
Is there something to hide?
The simple test to apply is this; if you were them, would you go ahead and feather your own nest, especially if no one would ever know?
Let’s be honest with ourselves. Like Bill Clinton said years ago when pressed as to why he did what he did....it was because “he could.”
Audit the Head!
While they are at it they should demand an audit of the highway trust fund also.
Federal Reserve is mobilizing against his legislation that would subject the central bank’s monetary policy decisions to an audit. “
Then draft legislation Abolishing The Fed, watch their reaction.
Just what we need, Nancy Pelosi and Elizabeth Warren telling the Fed what monetary policy should be.
The Fed bought US Treasuries and MBS guaranteed by the US Treasury.
They bought, among other things, Bear Stearns' portfolio as that company was going under; they also bought MBS, as you say, which were backed by Fannie and Freddie, and thus ultimately by the US Treasury. I don't know if you are implying they were therefore "sound" investments from your brief comment.
These securities are not insulated against price fluctuations due to interest rate changes, and are highly leveraged. They will at some point be under water, a fact that an audit will likely disclose.
Yeah, they made a couple of billion dollars by the time they liquidated that one.
These securities are not insulated against price fluctuations due to interest rate changes,
Who said anything about insulated? You claimed they were crap loans.
and are highly leveraged.
Can you explain this claim?
They will at some point be under water
Guaranteed bonds will be under water? What does that mean?
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