Use access key #2 to skip to page content.

KDakotaFund (24.01)

Ron Paul's Hour of Power

Recs

20

December 11, 2009 – Comments (9)

The decades-long campaign of Ron Paul to have the Government Accountability Office do a full audit of the Federal Reserve now has 313 sponsors in the House.

Sometimes perseverance does pay off.

If not derailed by the establishment, the audit may happen.

Yet, many columnists and commentators are aghast.

An auditors' probe, they wail, would imperil the Fed's independence and expose it to pressure from Congress to keep interest rates low and money flowing when the need of the nation and economy might call for tightening.

Full article

9 Comments – Post Your Own

#1) On December 11, 2009 at 11:52 AM, catoismymotor (44.22) wrote:

+ 1 Rec. This is great news.

Report this comment
#2) On December 11, 2009 at 12:09 PM, lquadland10 (< 20) wrote:

End the FED. Why pay Intrest to the IMF?

Report this comment
#3) On December 11, 2009 at 12:56 PM, russiangambit (29.20) wrote:

As for end the FED, somebody still has to issue the money, whatever they are called.

Howver, I don't see why FED's book shouldn't be reported every quarter, with their assets and liabilities. After all we all are on the hook for these liabilities, I assume.

Report this comment
#4) On December 11, 2009 at 1:00 PM, DaretothREdux (43.71) wrote:

russiangambit,

Yes. We are. If you carry dollars, then it's backed by whatever the Fed holds currently. Including tons of bad mortgage loans.

Dare

Report this comment
#5) On December 11, 2009 at 1:01 PM, russiangambit (29.20) wrote:

And one more thing , I am not sure how to get it accomplished but FED should stop meddling in the economy. Their charter is to control inflation ( which they failed) and maintain stable employement ( which they have no control over anyway). They use these two goals to meddle in the economy, and they fail at both while doing so. Why? My guess is that in truth FED has different goals.Everything they did so far only hurt the inflation and employement situation. And whatever these goals are, they have no right to pursue them because Congress didn't authorize it.

Report this comment
#6) On December 11, 2009 at 1:03 PM, starbucks4ever (97.37) wrote:

What kind of "pressure"? If their books are in order, they have nothing to fear from an audit.

Report this comment
#7) On December 11, 2009 at 1:55 PM, Option1307 (29.68) wrote:

 If their books are in order, they have nothing to fear from an audit.

Good point, and I think this is exactly why they don't want an audit. If we see their books, we will finally see the truth, i.e. that the FED is a giant disaster and a complete wreck. They obviously can't show the American people that, eventhough many of us already assume that. 

Report this comment
#8) On December 11, 2009 at 2:22 PM, alexxlea (59.99) wrote:

Let's put it this way. Investors seem to do worse the more money they have under their belts. Institutional investors just blow.

 

How about the biggest institutional, government-directed investor.

 

 

It's not any sort of secret that they are completely screwed, and want to keep putting off any sort of audit until after the real explosion happens. 

Report this comment
#9) On December 14, 2009 at 11:08 PM, lucas1985 (< 20) wrote:

@zloj,
"If their books are in order, they have nothing to fear from an audit."
You know this is a sloppy argument, do you?

Report this comment

Featured Broker Partners


Advertisement