Audit the Federal Reserve

[moss20]

For damn near a hundred years since the federal reserve was created, it has not been audited one single time. It recently "lost" over 1 TRILLION dollars in our money. After being questioned by some members of congress it refuses to tell us where the money is going. The commisioner and the director of investigations have both been questioned and neither will answer or have an answer as to where 1 TRILLION dollars of OUR money has gone. I don't want you to take my word on it. Do the research yourself and you will find video evidence of what I just told you. After you form your own conclusions you should all go here to sign a petition. http://www.ronpaul.com/on-the.../audit- ... e-hr-1207/ .

[GS78]

hmmm, Its ok. don't worry about it.

[CCFan]

Done. For you folks that like to read - check out "The Creature from Jekyll Island" - it goes into how the Fed came into being. Hint: It's not to protect people's money....

[BluemontGlock]

you mean to tell me that while we argue over democrates and republicans, they just keep hiding our money...

this goes under the bailed out financial institutions that recently posted a "profit"...ughm...thats our profit...think you will see any of it...?

the lawmakers send our children off to war while the federal reserve picks your pocket...

just shut up and keep paying and sending us your children...

huh! and niether side has done a damm thing...gee you thinks thats perhaps, just perhaps,...everyone up there is getting paid, on both sides of the ailse...

they are all freakin' crooks...

[alby]

For damn near a hundred years since the federal reserve was created, it has not been audited one single time. It recently "lost" over 1 TRILLION dollars in our money. After being questioned by some members of congress it refuses to tell us where the money is going. The commisioner and the director of investigations have both been questioned and neither will answer or have an answer as to where 1 TRILLION dollars of OUR money has gone. I don't want you to take my word on it. Do the research yourself and you will find video evidence of what I just told you. After you form your own conclusions you should all go here to sign a petition. http://www.ronpaul.com/on-the.../audit- ... e-hr-1207/ .

Given that all money originates at the Federal Reserve, I doubt it really matters. Money is, after all,
Federal Reserve Notes. Meaning, its really their pieces of paper we use as money.

The Constitution gives control over the Nation's money to Congress. Congress has delegated that
responsibility to the Federal Reserve. If you don't like how the Fed is being run or the lack of reporting
that it has offered, the only person to blame is the Congress of the United States.

They at the stroke of a pen, could dissolve the Federal Reserve. Then take over all monetary policy
of the country. But I seriously doubt you want a House and Senate Committee controlling the nation's
monetary (not fiscal) policy. The reason, is that politics will be injected into policy and you'll end up with
an unstable national economy that swings with every election. You also don't want the Fed (Central Bank)
dishing out tons of information and tipping their hand at trying to manage monetary policy.

There is no easy balance. I believe in the benefits of having an Independent Central Bank. The problem
really boils down to good oversight...

[zephyp]

Our Founders, particularly Thomas Jefferson, wrote and spoke at length about the dangers of a central banking system. He note that creation of such a system would be the beginning of the end for our country. Hence, Woodrow Wilson apologized to the American people on his way out the door for signing the Federal Reserve Act of 1913 (I think it was 1913).

For those of you unaware, the Fed is not a government organization nor is it responsible to the government. There are only two "federal" requirements for the Fed: (1) the chair is appointed by the president and confirmed by congress and (2) the Fed must report to congress twice each year. Congress has no oversight of the Fed and has no power (none) to give them direction or guidance.

The Fed is also responsible for creating new money - not congress and not the treasury. Those of you familiar with the Constitution know that this responsibility is (well was) relegated to congress. They abdicated (gave up) this power to the Fed in 1913.

The bad part is that the Federal Reserve Note is backed only by the promise of the Fed (not anyone or anything else). The Fed actually creates new money from nothing when it lends to a bank or buys treasury instruments. They dont have money and this new creation is electronic and from thin air. This is why its virtually impossible for us to "pay down our debt" which is held in treasury instruments. To do this the Fed would have to find willing sellers and then create new money pumping massive amounts of newly created dollars into the global economy.

Can you say "how can we crash the dollar?"

With that I do not support auditing the Fed. I'd much rather see them completely disbanded - after they are tared and feathered along with congress.