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WASHINGTON - Following last-minute adjustments, a proposal to audit the Federal Reserve that the Obama administration once opposed was on the verge of passing the Senate as it attracted broad support from conservatives and liberals alike.
The administration withdrew its objections to the proposal Thursday, saying it was satisfied that the audit would not interfere with the Fed's authority to set monetary policy.
The one-time audit would focus on the Fed's emergency lending to financial institutions in the months leading up to and after the 2008 financial crisis. At its peak, at the end of 2008, the Fed's lending totaled $1.16 trillion.
As fas as I am aware this has never happened before althought libertarians have called for it for decades.
Ron Paul, big supporter of the idea..
Quote:
Originally Posted by Finn_Jarber
WASHINGTON - Following last-minute adjustments, a proposal to audit the Federal Reserve that the Obama administration once opposed was on the verge of passing the Senate as it attracted broad support from conservatives and liberals alike.
Translation: Obama conducted a poll and found blocking the bill unpopular so he decided to change his support..
Quote:
Originally Posted by Finn_Jarber
The administration withdrew its objections to the proposal Thursday, saying it was satisfied that the audit would not interfere with the Fed's authority to set monetary policy.
There is a bs rationality.. Why would an audit interfere with them setting monetary policy? That is after all the reason for their existance..
Quote:
Originally Posted by Finn_Jarber
The one-time audit would focus on the Fed's emergency lending to financial institutions in the months leading up to and after the 2008 financial crisis. At its peak, at the end of 2008, the Fed's lending totaled $1.16 trillion.
Translation: Its not really an audit, just a review of policy.
I'll leave the rest of yor post to the partisan spin-meisters.
Paul is upset that the audit is just a one time deal,can't say I blame him for all the years and effort that he and supporters have put into it.In reality that is the best he is going to get and something is better then nothing.Maybe there will be enough in the audit to wake the people up on how the FR and the banksters run the country.
I found it interesting that during the debate the stock market crashes 900 points,kinda makes me wonder.
WASHINGTON - Following last-minute adjustments, a proposal to audit the Federal Reserve that the Obama administration once opposed was on the verge of passing the Senate as it attracted broad support from conservatives and liberals alike.
The administration withdrew its objections to the proposal Thursday, saying it was satisfied that the audit would not interfere with the Fed's authority to set monetary policy.
The one-time audit would focus on the Fed's emergency lending to financial institutions in the months leading up to and after the 2008 financial crisis. At its peak, at the end of 2008, the Fed's lending totaled $1.16 trillion.
ron paul has been asking for afull audit. I am starting to be swayed by the fact he might havd a true grasp of what is going in
Ron Paul has nailed them a ton of times about needing to audit the fed. He was called crazy. Now all of a sudden polls are showing Dems and Reps are not getting the votes they thought they would we are getting a one time only audit. Paul wants a full audit of the fed, from years back. I doubt we would ever see that. All this "audit" is going to do is swing a couple of votes back to the politicians.
because the fed isn't required by any law to be fiscally responsible, and theres no real immediate incentive for them TO be fiscally responsible. the states lose funding if they don't appropriate their funds correctly, the fed just "prints" more (with fiat currency).
Maybe there will be enough in the audit to wake the people up on how the FR and the banksters run the country.
I am also hoping the audit will reveal something and make people go "WAAAAHHH". I think the sunlight is finding the vampire, and the vampire won't like it.
I came back from the golf course yesterday and read the news about the 1000 point drop at Wall Street. It was a bit of a jaw dropper, but luckliy the market regained most of the loss.
ron paul has been asking for afull audit. I am starting to be swayed by the fact he might havd a true grasp of what is going in
During the campaign he was the ONLY ONE who understood the root causes for the economic situation. I was sad to see his republican opponents snicker at him when he was explaining the problem, and I was angry at the media for picking McCain and Romney and not giving Paul a chance to express his opinons.
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