"Audit The Fed" Bill Gains Momentum, Yellen Starts Damage Control

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?

Reversely

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: 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?

Reversely

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.

USD isnt gold-backed, hasn't been for what, half a century? Nobody has a gold backed currency anymore.

Why would an audit have anything to do with how much gold they've taken away from us?

Yes, a proper audit- given proper media attention (won't happen) would be the end of this country.



But look at it from the other point of view- what are you going to do? Drag that dead horse a few more miles? Artificially increase the value of USD to give the 'economy' one last breath before it expires? Oh, right, that's exactly what they're doing.

It's broken.
Lots of people are going to die because of it.
Yeah, it sucks. That's what happens when you enslave entire populations of people.

Drag it out a bit longer- maybe in another ten years nobody will be strong enough to live three days without their 7-11, then they'll all just kind of go away when you pull the rug out from under them.

a reply to: xuenchen

Auditing the Fed would destroy the illusion that we live in a democracy. It will never happen. There are too many people that will be implicated. The OWNERS of the country will never allow it.

The controllers won't allow it, but the more important reality of the situation is that the millions of dumb founded imbeciles in this Country simply do not care.

They either do not care, are too busy trying to survive, or are stuck on stupid which is the majority of them. Also, The more uneducated people allowed into America only strengthens the masters of puppets game.

Combine that with all the old spineless, turn coat, carpetbaggers in empty suits over in D.C like Harry Reid, and the situation is nothing but hopeless for the herds.

The result = Absolutely nothing. With a few wetted beaks, followed by a few more back door hand jobs, it's business as usual. ~$heopleNation

Drunken history... How about drunken news... That may get people to wake up. Pop-cult meets drunken cult. History down a bottle.

Chheerrrrss!!!

I really hope this thread and bill gain some traction this time around... It's about damn time we really learned what the fed does with our money, if fort knox even has any gold in it anymore, and where the hell in the IRS tax code does it say I'm required to pay federal taxes. Sadly this whole idea and concept of transparent government will fade into obscurity once the bill gets killed like it always does.

Michael Ruppert (Investigator/Author): The Federal Reserve is no more 'federal' than Federal Express. I've never seen a full list of ownership for the Fed -- I don't think anybody has.

Franklin Sanders (Author/Tax Honesty): Why did we give a monopoly, of creating money out of thin air, to a private corporation?

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?

I am open minded, but what sayeth thou about this article saying that the claim that the Fed has not been audited is false? www.publiceye.org...

"A Brief History of Federal Reserve Audits

Since its inception in 1913 the Federal Reserve System has been subjected to a variety of financial and performance audits by Congress, the executive branch, and private accounting firms, although responsibility for this task has shifted from time to time. From 1913 to 1921 the Board of Governors, then known as the Federal Reserve Board which sets monetary policy and regulates the activities of the Federal Reserve Banks, was audited annually by the U.S. Treasury Department. In 1921 Congress created the Government Accounting Office (GAO) and assigned it to audit the Board until 1933. In the Banking Act of 1933, Congress voted specifically to remove the Board from the GAO's jurisdiction. From 1933 to 1952 audit teams from the twelve Federal Reserve Banks performed the annual examination of the BOG's books. From 1952 to 1978, the Board, under authorization from Congress, decided to employ nationally recognize accounting firms to conduct the audits of itself to insure independent oversight. This provided an external evaluation of the adequacy and effectiveness of the examination procedures.1

In 1978 Congress passed the Federal Banking Agency Audit Act (31 USCA §714). It placed the Federal Reserve System back under the auditing authority of the GAO. The Act significantly increased the access of the GAO to the Federal Reserve Banks, the Board, and the Federal Open Market Committee (the FOMC). Since then, the GAO has conducted over 100 financial audits and performance audits of the three Federal Reserve bodies."

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.

Combined
Financial
Statements
as
of
and
for
the
Years
Ended
December
31,
2013
and
2012
and
Independent
Auditors'
Report

Federal Reserve System Audited Annual Financial Statements

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.

Combined
Financial
Statements
as
of
and
for
the
Years
Ended
December
31,
2013
and
2012
and
Independent
Auditors'
Report

 

Federal Reserve System Audited Annual Financial Statements

 

What is your opinion of it? I have only taken a single graduate accounting course in my life, and learned the basics. So I don't really have the expertise in either banking or accounting to judge the report.

Deloitte is a well respected consulting company, of course with a public sector branch. They acted as the independent auditor in this report.

Now, one could try to argue that at the high level all these corporations are in it together. That is possible. But I have friends who work in fields such as this, including with Deloitte. It's possible, but unlikely that they would fake an entire report.

But the point is, hasn't the Fed been audited? What do people mean when they say it never has?