“You’re under the mistaken impression that Bernanke and his buddies at the Fed get to keep the Fed’s earnings every year.”
Nope.
“What aren’t they telling you? When they change interest rates, they tell you. And then, they release the minutes of the meetings where they made those decisions. When they buy or sell bonds, they tell you. When they testify before Congress, you can see idiots asking Bernanke questions for hours. And sometimes, the questioners even know what they’re asking, but not often.”
How many times do I have to list what cannot be checked? What exactly would they or you be opposed to an audit looking into if they could look into nothing more than they already do?
They don’t have to reveal their monetary policy or open market operations. They don’t have to reveal information about deals with international organizations or foreign governments.
“They tell you what they’re doing and why. It’s often years later before we know if it was the right thing.”
No, they do not. They do not have to, as things are currently. They cite privilege whenever they are asked something they don’t want to respond to.
Why don’t you not oppose an expanded audit since you are under the mistaken belief that it will lead to no more information? What could possibly happen if nothing more is looked into as you seem to claim?
Nope.
Then why do you think the Fed "only care about what they can gain directly for themselves"
They don’t have to reveal their monetary policy or open market operations.
What do you want to know about monetary policy or open market operations that isn't available?
They don’t have to reveal information about deals with international organizations or foreign governments.
Ditto.