Fed Would Be Shut Down If It Were Audited, Expert Says, page 1

Fed Would Be Shut Down If It Were Audited, Expert Says

www.cnbc.com

The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC. With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.

"If the Fed examiners were set upon the Fed's own documents—unlabeled documents—to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down,"

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[edit on 10-6-2009 by DimensionalDetective]

And yet, as we see, most of the gov puppets subservient to this fraudulent and criminal enterprises keep PROTECTING it.

This has become such a joke anymore. We have criminals not even part of our gov pulling all of its strings and dictating monetary policy with capital that they don't even have anything of any real value to back up with. They are a world class racketeering scam. And this has been going on for HOW many decades now?

I hope the public's awareness continues growing and that we can finally expose these criminals for what they've been doing for nearly a century and put an end to this nonsense once and for all. But I'm not holding my breath...

www.cnbc.com
(visit the link for the full news article)

reply to post by DimensionalDetective

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I am not worried about those miscreants being punished. They will skip the country with suitcases filled with gold before that happens. The fed reserve should be shut down, Americans have suffered the fed long enough.

Well Of course it would have to be shut down. You think Ron Paul didn't know what he was doing all along here with HR1207? I've been talking about this for a while now with a friend telling him this is exactly what Ron Paul knows- that if he can secure a comprehensive audit of the fed that it will be found to be so screwed up that they will have to shut it down.

And as of this writing, HR 1207 has a whopping 200 cosponsors in the house. We might just allow those 200 a lighter sentence when all this is said and done. Any more takers? We'll go easy on yas, just for being good sports.

reply to post by TrueAmerican

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I made a mistake, or more like Campaign for Liberty made a mistake. We still have 207, not 200 as they reported! It's all good!

Originally posted by DeadFlagBlues
reply to post by TrueAmerican

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I made a mistake, or more like Campaign for Liberty made a mistake. We still have 207, not 200 as they reported! It's all good!

200, according to LOC.

[edit on Wed Jun 10th 2009 by TrueAmerican]

reply to post by TrueAmerican

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That site isn't updated yet.

Ron Paul’s HR1207 is Unstoppable! 207 Cosponsors now

June 9th, 2009 8:12 pm | by Marc Gallagher

According to Matt Hawes at the Campaign For Liberty Ron Paul’s HR1207 to audit the Federal Reserve now has 207 cosponsors, including House Minority leader John Boehner!

One has to believe at this point that HR1207, in some form, will be passed by the House of Representatives. This is one bipartisan regulatory bill we can fully get behind.

I have serious reservations about the efficacy of HR1207, but as I’ve stated in the past it is a good start down the road of transparency that we truly need. We can only hope that such transparency, if passed, forces the Federal Reserve into a position of making very careful choices about how it conducts its business.

From Matt Hawes at the Campaign For Liberty:

Earlier in the day, we reported that HR 1207 is now up to 200 cosponsors.

I’d like to correct that… by changing it to 207!!!

Rep. David Dreier (R-CA)
Rep. Steve King (R-IA)
Rep. John Boehner (R-OH)**
Rep. Ed Perlmutter (D-CO)*
Rep. Chris Lee (R-NY)*
Rep. Mike McIntyre (D-NC)
Rep. Jim McGovern (D-MA)

* House Financial Services Committee Member

** Minority Leader, House of Representatives (Yes, you read that right!)

This means that just 10 more cosponsors are needed to attain a House majority. Our tracking page should be updated as soon as thomas.loc.gov updates the official count.

reply to post by DeadFlagBlues

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I saw that number as high as 209. But in reality, I'm not sure it really matters. They've been gutting it slowly but surely. The doubts expressed are well-founded.

reply to post by TrueAmerican

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Progress is a slow process.

Truth has very many enemies.

Paul's bill is far more potent than the lackluster origin of what we've seen with Kucinich' bill. The good thing about both of them are that they're heading in the right direction and it has caused fear within the FED. They're hiring marketing teams, lobbyists, etc... to combat a small number of people that have started a snowball effect with a true American movement!

I don't really agree with your self-defeatist attitude. I know this kind of puts a damper on your plans of a violent American revolution, but you should be happy with anything that involves combating greed and evil with truth and right.

We'll see where it takes us. We can only offer our support.

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