It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
originally posted by: six67seven
Wouldnt an audit expose America's lack of physical wealth & inability to pay its debt?
Isnt that the actual reason they are fighting the bill?
Wouldnt exposure be the end of America, as we know Her?
Those are real questions posted to receive real answers. I'm no expert.
What say you all?
They are proposing a policy audit, not a financial audit. The U.S. money system is not tied to gold reserves.
The policy of the Fed is to control inflation with interest rates and money supply.
There will be no surprises. The Fed has stated repeatedly that they are keeping interest rates low to prop up the bond markets, the stock market, and the economy. They have been silent on when the piper will be paid, and when they will stop propping up the markets.
What if the Fed contains way more gold/silver than we are led to believe?
What would be the effect on the price of gold/silver, the markets & the dollar?
How would other countries react?
Basically I guess, what is the desired effect of an audit? -- to simply prove that we are being lied to? Is proof of deceit worth the possibility of a crashing economy, or whatever action other countries might take? Or do we really want/need an audit at this point in time?
We live in a glass economy. An audit would most likely produce a profound reaction from every direction.
Just saying, be careful what you wish for.
originally posted by: xuenchen
Looks like new life for that controversial legislation always proposed by Congressman Ron Paul.
He was always pushing for a full and complete audit of the U.S. Federal Reserve.
Lots of conspiracies, controversies, and speculation rose out of discussions about the Federal Reserve and how they are not actually a U.S. Government Agency.
Many think the Fed is the controlling arm of TPTB with global tentacles.
The story goes into some details and mentions the Democrats have been fighting this and now the Federal Reserve itself is lobbying against the threat of an "audit".
"Audit The Fed" Bill Gains Momentum, Yellen Starts Damage Control
After years of being blocked by Democratic leader Harry Reid, The Washington Times reports, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making. Ron Paul's flagship legislative efforts have been picked up by his son and now has the backing of the leader of the new Republican majority, Sen. Mitch McConnell, whose office says the legislation will earn a floor vote. While the bill is not a sure thing, it appears to have The Fed worried as Reuters reports, Yellen and other Fed officials are lobbying Capitol Hill to drop the audit push.
After years of being blocked by Democratic leader Harry Reid, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making.
The story seems to be referring to a "policy audit" and not necessarily a financial audit.
Why would some politicians NOT want an audit?
Why would the Fed be lobbying for a NOT audit?
Very Suspicious !!
"WHO" Really *OWNS* the Federal Reserve Anyway?
originally posted by: xuenchen
a reply to: Quetzalcoatl14
And here is the 2013 "report".
Many people think things are missing or tainted.
Hard to satisfy everybody.
Unless of course these legislation proposals are just a smokescreen.
Federal Reserve System Audited Annual Financial Statements