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Old 07-08-2009, 06:39 AM
 
552 posts, read 756,907 times
Reputation: 134

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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.

So what are they hiding? We need to find out.

Last edited by davidmg1; 07-08-2009 at 07:25 AM..
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Old 07-08-2009, 06:48 AM
 
Location: Florida
19,655 posts, read 19,768,059 times
Reputation: 22973
Quote:
Originally Posted by delusianne View Post
Lol. Guess you dont know showmanship and games-playing when you see it.
Yeah, it's a real riot!
I'll repeat the question.....do you think there should be an audit?
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Old 07-08-2009, 06:51 AM
 
Location: Raleigh, NC
9,043 posts, read 11,571,264 times
Reputation: 1392
Quote:
Originally Posted by old_cold View Post
Yeah, it's a real riot!
I'll repeat the question.....do you think there should be an audit?
I fully anticipate hearing crickets
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Old 07-08-2009, 06:59 AM
 
12,625 posts, read 18,125,141 times
Reputation: 2989
Quote:
Originally Posted by floridasandy View Post
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.
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Old 07-08-2009, 07:08 AM
 
Location: Great Falls, Montana
3,983 posts, read 3,367,919 times
Reputation: 1301
Quote:
Originally Posted by kaimuki View Post
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.


Yup ... our tax dollars at work ...
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Old 07-08-2009, 08:33 AM
 
10,543 posts, read 11,984,983 times
Reputation: 2798
No need for an audit when you operate with complete transparency.
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Old 07-08-2009, 08:36 AM
 
Location: Charleston, WV
3,105 posts, read 6,624,845 times
Reputation: 835
Quote:
Originally Posted by floridasandy View Post
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.
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Old 07-08-2009, 08:41 AM
 
Location: US
1,189 posts, read 3,613,330 times
Reputation: 816
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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Old 07-08-2009, 09:06 AM
 
Location: On the Ohio River in Western, KY
3,388 posts, read 5,725,742 times
Reputation: 3342
Quote:
Originally Posted by kaimuki View Post
I wonder what will be discovered if the Federal Reserve has a real full-blown audit. Any guesses?
That there is no gold at Ft. Knox?
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Old 07-08-2009, 09:17 AM
 
Location: Sacramento
13,781 posts, read 23,755,254 times
Reputation: 6174
merged two threads about the same topic
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