If the Fed is audited, what might we find that they are doing which would be bad?

Rand Paul wants to audit the Fed. What might he find that they are doing that hurts the country? And who would it be profiting if the Fed is doing bad stuff?

 

The FED is audited, both internally and by the GAO.

 

Can you answer my question?

 

What part of "the FED is already audited" that you do not understand?

 

Lying, cheating, lying about cheating, and stealing. That's what audits are all about isn't it?

 

Isn't that redundant?

 

Can you go into detail though? I support Rand Paul and I'm trying to find out what he's looking for more specifically.

 

Yes and no.

Internal audits have their function, usually making sure the appropriate controls are in place so that the statements are not easily altered. External audits make sure that the various governmental accounting guidelines are followed so that the various statements are portrayed accurately.

 

I mean they are both government agencies, given their power by the government, and the heads of both entities are also appointed by the government. It's just another government scam, that is so obvious it is pathetic. That is why an "outside" audit should be done regularly as well.

You don't keep the chickens safe by appointing a fox to take care of them, and appoint another fox to see to it the first fox does what he is supposed to, and a third fox to make sure the second one does what he is supposed to.

 

How much cronyism goes on to protect the rich/elites for one.

http://beforeitsnews.com/economy/20...-today-the-results-are-startling-2449770.html

 

The Fed in NOT fully audited.

 

Then they wouldnt need to pass a bill to do it now would they. They dont currently do a FULL audit.

 

FYI the house voted for it last year. Reid wouldnt let it come to a vote in the Senate surprise surprise!

 

accounting fraud!!!

 

http://www.youtube.com/watch?v=id04EMU6OIw

No full audits... sorry Alyssa.....

 

The bill was based on populace ignorance, but thankfully, it wen't nowhere in the Senate.

 

They're looking for stuff like this
http://www.youtube.com/watch?v=1QK4bblyfsc

 

The Fed is audited. The stuff they don't disclose is their dealings with foreign countries. Because guess what, if they told us what they do with other countries, every other country would know. There is some stuff that just has to be kept secret. But in terms of their effect on us, they are heavily audited and most of the information anyone needs to know is published. You wouldn't find anything crazy if they were audited. It would be really boring information.

 

Not true and a review of each BRANCH (think 9) tells nothing of the primary operations...

 

I'd like to decide if its boring or not thanks.

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I'd like to decide if its boring or not thanks.

 

Your irrational fears and willingness to sacrifice our relationships with other countries because your failed ideology is not reason enough for the Fed to give you information that you have no need for other than a weird curiosity.

 

When trillions of dollars are bouncing around from one central bank to another of course we have the right to know about it. This is all about the central banks being secretive this has nothing to do with relations with other countries. Stop blindly defending the Fed for once and starting thinking.

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When trillions of dollars are bouncing around from one central bank to another of course we have the right to know about it. This is all about the central banks being secretive this has nothing to do with relations with other countries. Stop blindly defending the Fed for once and starting thinking.

 

There's not a single country in the world that exposes this information. Like I said, this is stuff you really don't need to know. You only want to know out of curiosity and party politics. That's not a reason enough for the Fed to make this information public and risk foreign relationships.

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There's not a single country in the world that exposes this information. Like I said, this is stuff you really don't need to know. You only want to know out of curiosity and party politics. That's not a reason enough for the Fed to make this information public and risk foreign relationships.

 

Thinking like this is exactly why our economy is in the gutter, and the two party scam rules.

 

If Rand Paul is saying the Fed is not audited he is either woefully ignorant or woefully dishonest.

The Fed's audited financial statements.

2007: http://www.federalreserve.gov/monetarypolicy/files/BSTFRcombinedfinstmt20072008.pdf
2009: http://www.federalreserve.gov/monetarypolicy/files/BSTcombinedfinstmt2009.pdf
2010: http://www.federalreserve.gov/monetarypolicy/files/BSTcombinedfinstmt2010.pdf
2011: http://www.federalreserve.gov/publi...udits.htm#FederalReserveSystemAudits-4AF32DDA

A comprehensive audit of the Fed's operations and procedures focusing on its emergency response to the financial crisis:

http://sanders.senate.gov/imo/media/doc/GAO Fed Investigation.pdf

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And by Deloitte and Touche and the OIG as well as its own internal audit comittee.