Trump removes Federal Reserve Governor Lisa Cook from office, citing fraud allegations

[Delldude]

Well not to you, of course. You are one of the brainwashing victims.

Just admit it to yourself......look into a mirror and accept the fact that you're fucked up.

 

[John Edgar Slow Horses]

 

[Delldude]

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How many years was the left in control of the levers and how many times did they run out the legal clock?

 

[22lcidw]

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President Johnson set us up surviving on printing up fiat currency. Prog agendas set us up to come to realities when Republicans came to power. W warned of the housing crisis. O behind the scenes was a leper and promoted massive insurrections in cities during his terms. All of your accusations are questionable. You killed your own in Kennedy.

 

[Robert W]

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Hang that in your living room walls.

 

[buckeye]

https://www.federalreserve.gov/aboutthefed/files/combinedfinstmt2024.pdf

Except for the audits they release every year.

You just taught me something! Thank you. But if you dig a little, it's not enough.

According to its short title, the Federal Reserve Transparency Act of 2009 (H.R. 1207) would have amended Title 31 of the United States Code "to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported". It would have stricken exceptions to the audit protocol in 31 U.S.C. § 714 for the Federal Reserve System, the central bank of the United States, and would have replaced an indefinite deadline with a deadline of December 2010.<a href="Federal Reserve Transparency Act - Wikipedia"><span>[</span>4<span>]</span></a> If enacted, the bill would also have ensured that the audit results would be available to Congress.<a href="Federal Reserve Transparency Act - Wikipedia"><span>[</span>5<span>]</span></a> The audit would include the Fed's "discount window", its funding facilities, its open market operations, and its agreements with foreign bankers.<a href="Federal Reserve Transparency Act - Wikipedia"><span>[</span>6<span>]</span></a>

Federal Reserve Transparency Act - Wikipedia

en.wikipedia.org

 

[Toddsterpatriot]

You just taught me something! Thank you. But if you dig a little, it's not enough.

According to its short title, the Federal Reserve Transparency Act of 2009 (H.R. 1207) would have amended Title 31 of the United States Code "to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported". It would have stricken exceptions to the audit protocol in 31 U.S.C. § 714 for the Federal Reserve System, the central bank of the United States, and would have replaced an indefinite deadline with a deadline of December 2010.<a href="Federal Reserve Transparency Act - Wikipedia"><span>[</span>4<span>]</span></a> If enacted, the bill would also have ensured that the audit results would be available to Congress.<a href="Federal Reserve Transparency Act - Wikipedia"><span>[</span>5<span>]</span></a> The audit would include the Fed's "discount window", its funding facilities, its open market operations, and its agreements with foreign bankers.<a href="Federal Reserve Transparency Act - Wikipedia"><span>[</span>6<span>]</span></a>

Federal Reserve Transparency Act - Wikipedia

en.wikipedia.org

An actual audit isn't enough?

Why not?

 

[buckeye]

An actual audit isn't enough?

Why not?

There are audits and then there are full audits.

From Wikipedia above:

It would have stricken exceptions to the audit protocol in 31 U.S.C. § 714 for the Federal Reserve System, the central bank of the United States, and would have replaced an indefinite deadline with a deadline of December 2010.

If enacted, the bill would also have ensured that the audit results would be available to Congress.

The audit would include the Fed's "discount window", its funding facilities, its open market operations, and its agreements with foreign bankers.

Also: From those introducing the Federal Reserve Transparency Act in Jan. 2025:

Senators Todd Young (R-Ind.), Mike Lee (R-Utah), Ted Cruz (R-Texas), Mike Braun (R-Ind.), Chuck Grassley (R-Iowa), Roger Marshall (R-Kan.), John Barrasso (R-Wyo), and Marsha Blackburn (R-Ten.) joined Risch and Paul in introducing the bill.

This legislation would require the nonpartisan, independent Government Accountability Office (GAO) to conduct a thorough audit of the Federal Reserve’s Board of Governors and reserve banks within one year of the bill’s enactment and to report back to Congress within 90 days of completing the audit.

Audit the Fed would repeal current statutory restrictions that prevent a full audit of the Federal Reserve Board and Federal Reserve Banks. If enacted into law, the bill would empower the GAO to fully audit:

• Transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
• 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;
• Transactions made under the direction of the Federal Open Market Committee;
• Discussions or communications among or between members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to the actions listed above.

Risch, Paul Demand Fed Accountability

Introduce Audit the Fed Bill

www.risch.senate.gov

 

[SweetTea]

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Cleaning up after Democrats has proven to be difficult. Riding the coattails of Republicans is much easier.

 

[hadit]

Fake fraud allegations that he had cooked up just so he could do this.

Wow, that foil helmet is melting down, it's pulling so many brain waves.

 

[Toddsterpatriot]

There are audits and then there are full audits.

From Wikipedia above:

It would have stricken exceptions to the audit protocol in 31 U.S.C. § 714 for the Federal Reserve System, the central bank of the United States, and would have replaced an indefinite deadline with a deadline of December 2010.

If enacted, the bill would also have ensured that the audit results would be available to Congress.

The audit would include the Fed's "discount window", its funding facilities, its open market operations, and its agreements with foreign bankers.

Also: From those introducing the Federal Reserve Transparency Act in Jan. 2025:

Senators Todd Young (R-Ind.), Mike Lee (R-Utah), Ted Cruz (R-Texas), Mike Braun (R-Ind.), Chuck Grassley (R-Iowa), Roger Marshall (R-Kan.), John Barrasso (R-Wyo), and Marsha Blackburn (R-Ten.) joined Risch and Paul in introducing the bill.

This legislation would require the nonpartisan, independent Government Accountability Office (GAO) to conduct a thorough audit of the Federal Reserve’s Board of Governors and reserve banks within one year of the bill’s enactment and to report back to Congress within 90 days of completing the audit.

Audit the Fed would repeal current statutory restrictions that prevent a full audit of the Federal Reserve Board and Federal Reserve Banks. If enacted into law, the bill would empower the GAO to fully audit:

• Transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
• 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;
• Transactions made under the direction of the Federal Open Market Committee;
• Discussions or communications among or between members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to the actions listed above.

Risch, Paul Demand Fed Accountability

Introduce Audit the Fed Bill

www.risch.senate.gov

If enacted, the bill would also have ensured that the audit results would be available to Congress.

The full audits are available to Congress and the public.

the bill would empower the GAO to fully audit:

• Transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
• 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;
• Transactions made under the direction of the Federal Open Market Committee;
• Discussions or communications among or between members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to the actions listed above.

Awesome! But that's not an audit.

 

[John Edgar Slow Horses]

... because they do nothing worthwhile in comparison. The GOP is worthless.

 

[buckeye]

If enacted, the bill would also have ensured that the audit results would be available to Congress.

The full audits are available to Congress and the public.

the bill would empower the GAO to fully audit:

• Transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
• 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;
• Transactions made under the direction of the Federal Open Market Committee;
• Discussions or communications among or between members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to the actions listed above.

Awesome! But that's not an audit.

I'm sure you're right as accounting is not something I ever liked, let alone did.

Being an "independent"organization, as the Fed keeps insisting, means the need for more transparency.

I support the Federal Reserve Transparency Act. It's a long time coming.

 

[Toddsterpatriot]

I'm sure you're right as accounting is not something I ever liked, let alone did.

Being an "independent"organization, as the Fed keeps insisting, means the need for more transparency.

I support the Federal Reserve Transparency Act. It's a long time coming.

Being an "independent"organization, as the Fed keeps insisting, means the need for more transparency.

They release their balance sheet every week.

I support the Federal Reserve Transparency Act. It's a long time coming.

I'd be more interested in a Congressional Transparency Act.
Let's see their balance sheets every week.

 

[buckeye]

Let's see their balance sheets every week.

Lets do both.

 

[struth]

I'm sure you're right as accounting is not something I ever liked, let alone did.

Being an "independent"organization, as the Fed keeps insisting, means the need for more transparency.

I support the Federal Reserve Transparency Act. It's a long time coming.

They are "independent" in the sense they are not part of any of the three branches.

With that said, they are a creation of Congress, Congress has oversight, and they are enforcing law, which is in fact the job of the President, so the President does appoint the leadership and can fire them for cause.

 

[Delldude]

Being an "independent"organization, as the Fed keeps insisting, means the need for more transparency.

They release their balance sheet every week.

I support the Federal Reserve Transparency Act. It's a long time coming.

I'd be more interested in a Congressional Transparency Act.
Let's see their balance sheets every week.

And their mortgage documents.

 

[Delldude]

They are "independent" in the sense they are not part of any of the three branches.

With that said, they are a creation of Congress, Congress has oversight, and they are enforcing law, which is in fact the job of the President, so the President does appoint the leadership and can fire them for cause.

Yet congress trips over itself preventing an audit of the 'independent' Fed.

 

[Toddsterpatriot]

Lets do both.

Here's the Fed's most recent and a link to the rest.

Fed's balance sheet

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

 

[Toddsterpatriot]

And their mortgage documents.

The Fed probably pays cash for their buildings.