RP complains about the money supply, alleging it to be the cause of our problems. But money supply is widely publish and tracked, in addition to the Fed, by various groups of economist.
"This ally that we aid incites our enemies"
Total nonsense. Unlike meetings of Congressmen and President, the minutes of the Fed meetings are published a few weeks later. " Who the heck knows what’s going on over there right now? "
There you go: just because you don't know and don't understand, you assume that nobody does. And so does RP, as evidenced by his Neanderthal statement.
With backward-looking "conservatives" like this, who needs the Dems to bring the country down?
TITLE 31 > SUBTITLE I > CHAPTER 7 > SUBCHAPTER II > § 714
§ 714. Audit of Financial Institutions Examination Council, Federal Reserve Board, Federal reserve banks, Federal Deposit Insurance Corporation, and Office of Comptroller of the Currency (a) In this section, “agency” means the Financial Institutions Examination Council, the Federal Reserve Board, Federal reserve banks, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.
(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Federal Reserve Board and Federal reserve banks may not include— (1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.
The Bill ((HR 1207)) would just eliminate the exclusions:
(a) In General- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after `shall audit an agency' and inserting a period.
(b) Audit- Section 714 of title 31, United States Code, is amended by adding at the end the following new subsection:
(e) Audit and Report of the Federal Reserve System-
`(1) IN GENERAL- The audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks under subsection (b) shall be completed before the end of 2010.
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It also tightens the requirements on when and how Congress gets the results of the audit.
Really? What is the M3 the last time you checked?
If you disagree with many of us with regards to the transparency of the Fed, you really need to work on your persuasion skills.
the minutes of the Fed meetings are published a few weeks later.
As if meeting minutes provide sunshine. Hogwash. If they are so transparent, why not publish a TRANSCRIPT of the discussions? Too much inside baseball going on. If you don't agree then fine. But lay off the harsh tone.