Is the Fed already audited?

Greetings ATS,

I sent an email to my PA state senators demanding the fed be audited, and if they did not support Ron Paul's bill that I would tell everyone I know not to vote for them. I got emails back from both.

Bob Casey said it, in fact, HAD been audited. It has been audited by Deloitte. Here is the excerpt from the email

"Given the steps taken by the Federal Reserve to combat the recession, I understand your concerns. The Federal Reserve took unprecedented steps during the financial meltdown, often without oversight or transparency. Therefore, I am pleased that the Dodd-Frank Wall Street Reform and Consumer Protection Act, which President Obama signed into law on July 21, 2010, includes provisions to audit the Federal Reserve’s activities to support struggling financial institutions. The law also required the Federal Reserve to create a website with audit results; you can go to www.federalreserve.gov... to view these reports."

and the link
www.federalreserve.gov...

Now i still think its a hugely criminal enterprise. I am an accountant-type (by degree, but do not do audits) and want to see if this is legit, if we are crying for something already done, if anyone can find out if any Deloitte partners are in bed with the gov't (if they get more govt jobs than say PWC or EY, other big 4 accounting firms). etc.

Thank you ATS, Mods move if necessary.

Here ya go....

www.sanders.senate.gov...

reply to post by vonholland

Deloitte is hardly a reputable firm. Look at their long list of recent failures in the business arena. I guess they hope to get some credibility for their report by using a Big Name.

"This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

I cant believe these [SNIP]'s are stealing all our money and telling us that 'austerity' is the solution. It makes me want to do bad things.

These [SNIP]ers need to be stopped. 'Job Creators' my ass. I say we take back our governments and nationalize everything. Lets steal their stuff,see how they like it. They cant stop us if that is what the majority of us want. That is the little flaw in their 'democracy' that they give us. They tell us we cant do this.we cant do that. We can do whatever the [SNIP] we want if enough of us agree. I know that people get scared and parrot on if you mention 'communism' or 'socialism' but are they as scary as 'Austerity'? I say the elites have uped the anti,and they keep doing it. Are we gonna fold? [SNIP] that. We can beat those idiots easy. We just need to stop listening to their bs and allowing them make us fight amongst ourselves.

If you want to scare an elite say the word 'nationalize'. They might crap themselves. I dont mean some fake corporatist nationalization like 'obamacare'. I mean real nationalization. We could start with oil. We could fix everything overnight. We could destroy the elites overnight.

The legal auditing firm of 'Crook and Embezzler' has been auditing them for many years. We have nothing to worry about. There's nothing left to audit.

reply to post by vonholland


Any audit should include who owns the Fed. Yes there is one class of stock (voting) held by member banks, the only one they ever talk about. However when the Fed was created there was a PUBLIC stock offering with limits as to how many shares any non bank entity could hold in EACH of the individual 12 Fed banks. I recall this was to be non voting stock and if not fully subscribed the US Treasury was obligated to buy the remaining shares. They Fed did not notify the Treasury that it was fully subscribed until 1941.

It is all spelled out in the US Code Title 12 Chapter 3, subchapter 6, but read an annotated copy at your courthouse. as it includes portions non longer in effect, like the Treasury obligation.

§ 281. Capital
§ 282. Subscription to capital stock by national banking association
§ 283. Public subscription to capital stock
§ 284. Omitted
§ 285. Nonvoting stock
§ 286. Transfers of stock; rules and regulations
§ 287. Value of shares of stock; increase and decrease of stock; member banks as shareholders; surrender of shares
§ 288. Cancellation of stock held by member bank on insolvency or discontinuance of banking operations for sixty days; repayment of cash-paid subscriptions
§ 289. Dividends and surplus funds of reserve banks; transfer for fiscal year 2000
§ 290. Use of earnings transferred to the Treasury

No individual, copartnership, or corporation other than a member bank of its district shall be permitted to subscribe for or to hold at any time more than $25,000 par value of stock in any Federal reserve bank. Such stock shall be known as public stock and may be transferred on the books of the Federal reserve bank by the chairman of the board of directors of such bank

so they got some foxes to audit the fox house with several hidden doors, in order to convince us that the hen house is indeed not attached to the fox house, check.

i'm unsure sending connected criminals in to audit their partners, is showing much prudence.

The audit that did happen I believe was a partial audit but the one Ron Paul introduced is a complete audit I think it goes back further than 2008.