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For U.S. Representative Ron Paul, the ninth time may be the charm. After fighting for decades to increase scrutiny of the Federal Reserve or abolish it, the Texas Republican’s proposal requiring audits of the central bank’s interest-rate decisions is getting traction.
Shareholders of the Federal Reserve Bank are other banks. As shareholders, banks are able to appoint the Fed's management. Fortunes are made off of the loans the the Federal Reserve gives to these banks.