Okay.
Are the Federal Reserve System and Reserve Banks ever audited?
The Board of Governors, the Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review. Under the Federal Banking Agency Audit Act (enacted in 1978 as Public Law 95-320), which authorizes the Comptroller General of the United States to audit the Federal Reserve System, the Government Accountability Office (GAO) has conducted numerous reviews of Federal Reserve activities. In addition, the Board's Office of Inspector General (OIG) audits and investigates Board programs and operations as well as those Board functions delegated to the Reserve Banks. Completed and active GAO reviews and completed OIG audits, reviews, and assessments are listed in the Board’s Annual Report (before 2002, the reviews were listed in the Board's Annual Report: Budget Review).
The Board's financial statements, and its compliance with laws and regulations affecting those statements, are audited annually by an outside auditor retained by the OIG. The financial statements of the Reserve Banks are also audited annually by an independent outside auditor. In addition, the Reserve Banks are subject to annual examination by the Board. The Board's financial statements and the combined financial statements for the Reserve Banks are published in the Board's Annual Report
That was easy.
OK...now how many branches are there of the FED? 12, is the answer. They audit that 12 and thats it. THEY HAVE NEVER auditted who owns that twelve.
Just a couple more quotes.
Nice talking to ya and would love to talk more. But duty calls..
“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States” — Senator Barry Goldwater (Rep. AR)
“From now on, depressions will be scientifically created.” — Congressman Charles A.
Lindbergh Sr. , 1913
Show me where it says that the Federal Reserve System and Reserve Banks are audited. Underline it and not just some financial statement.
I wonder why there is no clear cut “yes or no”?