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Since last September the Federal Reserve has made $9 trillion in transactions that are not reflected on its balance sheet. This compares to $2 trillion in transactions that is reflected on the Fed’s balance sheet.
What was the purpose of this $9 trillion? Who got how much, and why did they get it? No one knows. Congress doesn’t know, and neither does the Inspector General charged with monitoring the Fed.
Add up the numbers — the Fed has done things in your name with $11 trillion. This is only a few trillion shy of the total annual gross domestic product of the United States. It’s also several times the total annual spending of the federal government.
i can't imagine any clear-thinking american not supporting this bill. it is OUR FUTURE EARNINGS that the government is using and we have a right to see how this money is being spent. our senators who do not support this are being incredibly arrogant about the use of taxpayer money.
Yes they are!
I would expect this thread to drop like a rock. we will see though they might surprise us.
I wonder what will be discovered if the Federal Reserve has a real full-blown audit. Any guesses?
Sure .. committees will have to be formed ... no less than 3 ... closed door sessions of these committees will happen ... money has to be appropriated for the committees, so that they could determine how much money needs to be appropriated for the audit ... and a Czar will definitely have to be appointed (to oversee the committees)
It wil take billions of dollars and 10 years for an audit to even be completed ... of course then, there's the pre-audit shuffle, coming to terms with the rules of the audit itself .. that alone would probably take 5 years and a few billion dollars before the actual audit could begin.
Oh, and we can't forget about all of the political posturing it will take to just vetting the folks to do the actual audit ... The Gov. of course .. will end up auditing their buddies over at the Fed, and after a couple of slaps on the wrist ... it'll be all over.
After which, for the next 50 years, D.C. will scream about "reforming the fed" during every election cycle.
my guess is that there may be a discrepancy between the amount of gold stated to be in fort knox and the actual amount in fort knox.
It has been several decades since the gold in Fort Knox was independently audited or properly accounted for,” said Ron Paul, the Texas Congressman and former Republican presidential candidate, in an e-mail interview with The Times. “The American people deserve to know the truth.”
Is there ANY gold in Fort Knox?
I thought we went off the gold system several years ago.
I am guessing the results a thorough and honest audit would scare the crap out of foreign firms buying our debt and we'd be slapped with a label that says JUNK.
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