I'm pretty sure this is last year news, rather than from the audit that was just being done, by the Treasury(lol as if they're actually going to tell the truth).
The reason that I placed it for your perusal, is due to a comment from Yellow RoseTx51. For they have seen, and spoken of it, with the FACTUAL eyes of truth.
For the naysayers among you (and there will be some, because the truth sometimes comes in the form of a very bitter pill, and will be rejected for that particular reason alone)I dare you, to do your own due diligence and see if you can come up with a different conclusion.
Sometimes the truth hurts, but it must always be accepted for what it is.
Showing posts with label FED audit. Show all posts
Showing posts with label FED audit. Show all posts
Monday, September 3, 2012
Tuesday, May 11, 2010
Senate votes 96-0 to audit Fed
http://www.mcclatchydc.com/2010/05/11/93918/96-0-vote-congress-opens-federal.html
Oh not a complete audit lol, that might actually show you why this calamity started in the first place.
The FED only wants to show you what they did to fix it because there is a built in excuse, that they had to do everything and anything to keep floating this dead fish of a financial system.
No crime here, WE just didn't know.......right lol
The Senate voted 96 to 0 Tuesday to open the secretive Federal Reserve Board's emergency lending practices to a congressional audit, as well as require a detailed disclosure of who's getting the funds.
"We are on the verge of lifting the veil of secrecy on perhaps the most important government agency in the United States of America,” said amendment sponsor Sen. Bernard Sanders, Ind.-Vt., "an agency which has control and spends trillions of dollars. They do it behind closed doors."
Under the plan, Congress' Government Accountability Office would conduct "a top to bottom audit of all the Federal Reserve's emergency activities" since the economic crisis began in December, 2007. In addition, the Fed would have to put on its web site all recipients of money from than $2 trillion in emergency aid that the Fed has dispersed since then.
The audit is the Senate's latest change to legislation that would overhaul the nation's financial regulatory system, making it easier for the government to break up ailing banks and provide a strong, independent consumer agency to help people with credit questions and problems.
Read more: http://www.mcclatchydc.com/2010/05/11/93918/96-0-vote-congress-opens-federal.html#ixzz0ndxumYSM
Oh not a complete audit lol, that might actually show you why this calamity started in the first place.
The FED only wants to show you what they did to fix it because there is a built in excuse, that they had to do everything and anything to keep floating this dead fish of a financial system.
No crime here, WE just didn't know.......right lol
The Senate voted 96 to 0 Tuesday to open the secretive Federal Reserve Board's emergency lending practices to a congressional audit, as well as require a detailed disclosure of who's getting the funds.
"We are on the verge of lifting the veil of secrecy on perhaps the most important government agency in the United States of America,” said amendment sponsor Sen. Bernard Sanders, Ind.-Vt., "an agency which has control and spends trillions of dollars. They do it behind closed doors."
Under the plan, Congress' Government Accountability Office would conduct "a top to bottom audit of all the Federal Reserve's emergency activities" since the economic crisis began in December, 2007. In addition, the Fed would have to put on its web site all recipients of money from than $2 trillion in emergency aid that the Fed has dispersed since then.
The audit is the Senate's latest change to legislation that would overhaul the nation's financial regulatory system, making it easier for the government to break up ailing banks and provide a strong, independent consumer agency to help people with credit questions and problems.
Read more: http://www.mcclatchydc.com/2010/05/11/93918/96-0-vote-congress-opens-federal.html#ixzz0ndxumYSM
Thursday, May 6, 2010
Bernanke Warns Against Move to Audit Fed
http://online.wsj.com/article/SB10001424052748704370704575228164133105390.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Federal Reserve Chairman Ben Bernanke sought Thursday to head off legislation that would subject the central bank's monetary policy decisions to congressional audits, warning it could stoke inflation and threaten economic stability.
With U.S. senators moving toward a possible vote later in the day on an amendment to the financial regulatory bill that would significantly increase congressional oversight of the Fed, Mr. Bernanke warned of the consequences in a letter to Senate Banking Committee Chairman Christopher Dodd (D., Conn.).
"Such amendments, if enacted, would seriously threaten monetary policy independence, increase inflation fears and market interest rates, and damage economic stability and job creation," Mr. Bernanke wrote.
In the past few days, Mr. Bernanke has reached out to about a half-dozen lawmakers to help make the Fed's case against the bill.
..If the amendment passes, it might be hard to strip from the broader legislation. The House's version of the bill, which passed late last year, contains a similar provision, which Mr. Bernanke also opposes. Passage would set up a dilemma for the White House, which would have to decide whether to veto a top domestic priority to duck the provision.
Federal Reserve Chairman Ben Bernanke sought Thursday to head off legislation that would subject the central bank's monetary policy decisions to congressional audits, warning it could stoke inflation and threaten economic stability.
With U.S. senators moving toward a possible vote later in the day on an amendment to the financial regulatory bill that would significantly increase congressional oversight of the Fed, Mr. Bernanke warned of the consequences in a letter to Senate Banking Committee Chairman Christopher Dodd (D., Conn.).
"Such amendments, if enacted, would seriously threaten monetary policy independence, increase inflation fears and market interest rates, and damage economic stability and job creation," Mr. Bernanke wrote.
In the past few days, Mr. Bernanke has reached out to about a half-dozen lawmakers to help make the Fed's case against the bill.
..If the amendment passes, it might be hard to strip from the broader legislation. The House's version of the bill, which passed late last year, contains a similar provision, which Mr. Bernanke also opposes. Passage would set up a dilemma for the White House, which would have to decide whether to veto a top domestic priority to duck the provision.
Wednesday, January 13, 2010
The Three-Pronged Attack on the Fed
http://www.minyanville.com/articles/Mish+Shedlock-AIG-bailout-fed-bernanke-FCIC-goldman+sachs/index/a/26362
Mish fails to mention that it's a disposable diaper, they hold more you know, with less leakage, and at this point it actually looks more like the size of a depends, in more ways than one.
We have a right to know what's in that crap filled diaper and to change it.
The Fed is pulling out all stops to defend its secrets, including publishing self-serving mathematical gibberish. Please consider the St. Louis Fed article on the Social Cost of Transparency.
(Editor's Note: See also, Everything You Need to Know About the Financial Crisis Inquiry Commission.)
Unless you're an academic wonk, you'll be stymied by pages that look like this:
Mish fails to mention that it's a disposable diaper, they hold more you know, with less leakage, and at this point it actually looks more like the size of a depends, in more ways than one.
We have a right to know what's in that crap filled diaper and to change it.
The Fed is pulling out all stops to defend its secrets, including publishing self-serving mathematical gibberish. Please consider the St. Louis Fed article on the Social Cost of Transparency.
(Editor's Note: See also, Everything You Need to Know About the Financial Crisis Inquiry Commission.)
Unless you're an academic wonk, you'll be stymied by pages that look like this:
Friday, June 19, 2009
Power Writes History
http://www.minyanville.com/articles/C-bac-ms-economy-banks-wfc/index/a/23189/from/home
The government's white paper describing the causes and effects of the financial crises provides the rationale for President Obama's proposals for reform. Conveniently, nowhere does the paper mention the actual primary causes:
1. The Federal Reserve kept real interest rates negative for nearly five years. Negative interest rates are an abomination, a radiation to proper pricing of risk:they encourage if
not force excessive risk-taking.
2. The Federal Reserve kept margin requirements at banks too low for too long.
3. The shoddy monitoring of off-balance sheet leverage and derivatives, both of which accelerated leverage to unparalleled levels.
4. The Congressional creation and support of the GSEs, which guaranteed and bought debt that would otherwise never been made because of its quality.
Of course the banking industry played along. Unfortunately, the private market will always take advantage of shoddy government regulation. But the private market never would have had the fuel or the risky inclinations if not for the above.
But the above wasn't mentioned, because the paper was written by those culpable.
Now we are about to give the very institution, a private bank with its own shareholders and where only half its board members are appointed by the government, undefined powers. Ron Paul has nearly half of Congress willing to support a bill to audit the Fed. It can't come soon enough. We know a lot more about the operations of the CIA than we do about the operations of the Fed, whose operations that always devalue our currency.
We will rue the day that we gave this power to the Fed. The power is undefined; they have carte blanche. We should by now all realize the destruction for which the Fed is already responsible.
Risk is high.
The government's white paper describing the causes and effects of the financial crises provides the rationale for President Obama's proposals for reform. Conveniently, nowhere does the paper mention the actual primary causes:
1. The Federal Reserve kept real interest rates negative for nearly five years. Negative interest rates are an abomination, a radiation to proper pricing of risk:they encourage if
not force excessive risk-taking.
2. The Federal Reserve kept margin requirements at banks too low for too long.
3. The shoddy monitoring of off-balance sheet leverage and derivatives, both of which accelerated leverage to unparalleled levels.
4. The Congressional creation and support of the GSEs, which guaranteed and bought debt that would otherwise never been made because of its quality.
Of course the banking industry played along. Unfortunately, the private market will always take advantage of shoddy government regulation. But the private market never would have had the fuel or the risky inclinations if not for the above.
But the above wasn't mentioned, because the paper was written by those culpable.
Now we are about to give the very institution, a private bank with its own shareholders and where only half its board members are appointed by the government, undefined powers. Ron Paul has nearly half of Congress willing to support a bill to audit the Fed. It can't come soon enough. We know a lot more about the operations of the CIA than we do about the operations of the Fed, whose operations that always devalue our currency.
We will rue the day that we gave this power to the Fed. The power is undefined; they have carte blanche. We should by now all realize the destruction for which the Fed is already responsible.
Risk is high.
Monday, May 25, 2009
Bill to audit the FED
http://www.infowars.com/bill-to-audit-fed-gains-serious-momentum/
It looks like the Federal Reserve may finally have something to worry about now that HR 1207 is finally gaining serious steam. If enacted, HR 1207 will amend title 31 of the United States Code and reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States. In other words, for the first time since 1950, the criminals at the Federal Reserve will be forced by law to open their books.
Rep. Ron Paul introduced H.R. 1207, the Federal Reserve Transparency Act of 2009, on February 26, 2009.
HR 1207 was sponsored and introduced by Rep. Ron Paul. On February 26, 2009, it was referred to the House Committee on Financial Services. It now has 179 co-sponsors (see the list of sponsors below).
It looks like the Federal Reserve may finally have something to worry about now that HR 1207 is finally gaining serious steam. If enacted, HR 1207 will amend title 31 of the United States Code and reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States. In other words, for the first time since 1950, the criminals at the Federal Reserve will be forced by law to open their books.
Rep. Ron Paul introduced H.R. 1207, the Federal Reserve Transparency Act of 2009, on February 26, 2009.
HR 1207 was sponsored and introduced by Rep. Ron Paul. On February 26, 2009, it was referred to the House Committee on Financial Services. It now has 179 co-sponsors (see the list of sponsors below).
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