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Sen. Rand Paul announced on Wednesday that President-elect Trump has stated his support for the “Audit the Fed” bill that Paul just reintroduced to Congress, according to The Hill.
Auditing the Fed is something that started with Rand Paul’s father, Ron Paul, who has been pushing for years to have the Federal Reserve central bank audited. That measure may soon become a reality if the new Congress votes in favor of the legislation.
Rep. Thomas Massie (R-Ky.) and Sen. Rand Paul (R-Ky.) have re-introduced the controversial “Audit the Fed” bill, after a similar effort failed with the last Congress in January 2016.
Former Federal Reserve Chairman Ben Bernanke previously said that if an audit of the federal reserve was to take place, the dollar and the U.S. economy would be in danger:
“My concern about the legislation is that if the GAO is auditing not only the operational aspects of the programs and the details of the programs but making judgments about our policy decisions would effectively be a takeover of monetary policy by the Congress and a repudiation of the independence of the Federal Reserve would be highly destructive to the stability of the financial system, the Dollar and our national economic situation.”
Bernanke’s former advisor infamously said that “People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned” in April 2016.
Janet Yellen shared a similar sentiment, when she said that the U.S. dollar and the U.S. economy would be in danger when questioned by Senator David Vitter (R-LA) in November 2013:
but making judgments about our policy decisions would effectively be a takeover of monetary policy by the Congress
originally posted by: GodEmperor
originally posted by: seasonal
a reply to: Bluntone22
The way Yellen and other fed chiefs have acted you would think that there is something big hiding in the books.