The Federal Reserve is Broken

[SuperDemocrat]

I don't know if anyone else agrees with Ron Paul on anything but I do think he is right that the national banking system has to be fixed at the top. The problem with that is it is impossible for the public to actually know what is going on inside the federal reserve because of secrecy. I don't know why people don't support auditing the fed so that the public can see how the federal reserve is managing the banking system.

 

[sonic]

What specifically are you looking to accomplish? The Fed is already audited by independent inspectors and an outside accounting firm (still Deloitte I believe) and the GAO scrutinizes the Fed's actions. The results and financials including every security the Fed owns are available online to the public.
The whole Ron Paul thing is to require congressional oversight, and quite frankly given the nightmare that is our current congress, I don't want them involved.

 

[Toddsterpatriot]

I don't know if anyone else agrees with Ron Paul on anything but I do think he is right that the national banking system has to be fixed at the top. The problem with that is it is impossible for the public to actually know what is going on inside the federal reserve because of secrecy. I don't know why people don't support auditing the fed so that the public can see how the federal reserve is managing the banking system.

The problem with that is it is impossible for the public to actually know what is going on inside the federal reserve because of secrecy.

What do you not know about what's going on in the Fed?

I don't know why people don't support auditing the fed

Do you know what an audit means?

FRB: Fed financial statements - Credit and Liquidity Programs and the Balance Sheet

 

[The Great Goose]

I don't know if anyone else agrees with Ron Paul on anything but I do think he is right that the national banking system has to be fixed at the top. The problem with that is it is impossible for the public to actually know what is going on inside the federal reserve because of secrecy. I don't know why people don't support auditing the fed so that the public can see how the federal reserve is managing the banking system.

Probably scared. If they weren't corrupt and fraudulent then we'd be allowed to audit them.

 

[theDoctorisIn]

I don't know if anyone else agrees with Ron Paul on anything but I do think he is right that the national banking system has to be fixed at the top. The problem with that is it is impossible for the public to actually know what is going on inside the federal reserve because of secrecy. I don't know why people don't support auditing the fed so that the public can see how the federal reserve is managing the banking system.

The Fed is audited. What Ron Paul is asking for is Congressional oversight over the Fed, which is probably the single worst idea I've ever heard. Nothing will destroy our economy faster than politicizing monetary policy.