The Fed is audited Regularly What is all this Audit the Fed Non sense?

[ChesusRice]

While youre continuously trying to point out how much better America is...what is your countries plan? Another debt ceiling increase? Another ratings downgrade? We're already recovering, you guys may still be digging, but digging downwards rather than up.

It's called national pride
And i dont make a habit of tearing down other countries with zeal like you do with mine

 

[Harrekin]

It's called national pride
And i dont make a habit of tearing down other countries with zeal like you do with mine

I think just cos the ship is on a shitty course doesn't make it a "shit ship"

I like the US, but with the way she's being steered, she'll end up on the rocks.

So how am I the one being negative? Critique leads to realising a need for improvement, if my Gov does something stupid I'll be the first to criticise, and I don't see how criticising economic policy or foreign policy offends you personally, the whole concept of that is retarded, this is POLITICS, it's about disagreeing, it leads to better ideas and progress (and not your Commie "progressive" progress either).

 

[ChesusRice]

I think just cos the ship is on a shitty course doesn't make it a "shit ship"

I like the US, but with the way she's being steered, she'll end up on the rocks.

So how am I the one being negative? Critique leads to realising a need for improvement, if my Gov does something stupid I'll be the first to criticise, and I don't see how criticising economic policy or foreign policy offends you personally, the whole concept of that is retarded, this is POLITICS, it's about disagreeing, it leads to better ideas and progress (and not your Commie "progressive" progress either).

I personally like you and feel bad about the whole mcpotatoehead thing
But you seem to Hitch your horse up the the Paulites
All Ron Paul has ever been interested in was subscribing to conspiracy theories and milking money out of followers
Ron Pauls vision for America is to destroy it economically and profit off of it
Every one of his Ideas has been tried here before with disastorous results
I digress
The Fed is Audited
The Fed doesnt make a profit off the USA
It is not in the Feds interest nor the USA's to publish thier minutes of meetings or make known publically what their loan portfolio is

 

[Harrekin]

I personally like you and feel bad about the whole mcpotatoehead thing
But you seem to Hitch your horse up the the Paulites
All Ron Paul has ever been interested in was subscribing to conspiracy theories and milking money out of followers
Ron Pauls vision for America is to destroy it economically and profit off of it
Every one of his Ideas has been tried here before with disastorous results
I digress
The Fed is Audited
The Fed doesnt make a profit off the USA
It is not in the Feds interest nor the USA's to publish thier minutes of meetings or make known publically what their loan portfolio is

I'm not interested in Turtle Lord, I used to like him but after further reading he's a bit too much of a cooky-aul dude.

This topic is about auditing the Fed, not Rawn Paul.

If you think I'm wrong about auditing the Fed...why did well over two thirds of vote to support the bill from both sides of the house?

 

[ChesusRice]

I'm not interested in Turtle Lord, I used to like him but after further reading he's a bit too much of a cooky-aul dude.

This topic is about auditing the Fed, not Rawn Paul.

If you think I'm wrong about auditing the Fed...why did well over two thirds of vote to support the bill from both sides of the house?

Becuase the Fed is already audited. By a third party and the Goverment Accounting Office
Those audits are public
What those who advocate "auditing" the Fed want
Is to know

How decisions are made
What the Loan portfolio is
Score Political points

None of the three things above is a benefit to the USA or The Fed
And it is all disclosed 5 years later anyways

 

[Harrekin]

Becuase the Fed is already audited. By a third party and the Goverment Accounting Office
Those audits are public
What those who advocate "auditing" the Fed want
Is to know

How decisions are made
What the Loan portfolio is
Score Political points

None of the three things above is a benefit to the USA or The Fed
And it is all disclosed 5 years later anyways

Duke Im really trying but you're just too much.

Do a bit more reading and come back to the conversation, your concepts of certain things are WAY off.

 

[ChesusRice]

Duke Im really trying but you're just too much.

Do a bit more reading and come back to the conversation, your concepts of certain things are WAY off.

Currently, the GAO is prohibited from auditing:
1. transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
2. deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations
3. transactions made under the direction of the Federal Open Market Committee; or
4. a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)-(3) of this subsection of US Code.

And in 1-4 above
it is disclosed 5 years later

I'm off to work
I need to earn fiat money
It pays the bills and feeds my family

 

[Harrekin]

Currently, the GAO is prohibited from auditing:
1. transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
2. deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations
3. transactions made under the direction of the Federal Open Market Committee; or
4. a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)-(3) of this subsection of US Code.

And in 1-4 above
it is disclosed 5 years later

I'm off to work
I need to earn fiat money
It pays the bills and feeds my family

Ok so you've no idea how a fucking audit works or what it is then. It's NOT an audit if a toothpick or 20c of petty cash is missing.
In your scenario, the "audited" Fed doesn't include transactions with other banks, Governments, etc.

Thats like saying you audited burger king but didn't include sale or losses from burgers, fries or chicken.

 

[InCognition]

Currently, the GAO is prohibited from auditing:
1. transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
2. deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations
3. transactions made under the direction of the Federal Open Market Committee; or
4. a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)-(3) of this subsection of US Code.

And in 1-4 above
it is disclosed 5 years later

I'm off to work
I need to earn fiat money
It pays the bills and feeds my family

So again, you're acknowledging that while the fed is audited, they are not audited in their entirety. An incomplete audit is not an audit.

Did you see the video clip of Ben Bernanke stating, that if the fed was to be audited soon, it would pose a serious threat the the stability of the economy and the value of the US dollar? I wonder why that is... because it's not like they have anything to hide, right? Surely the government and it's financial institutions never hide anything...