Audit The Fed Vote Proves Democrats are Liars

[Dont Taz Me Bro]

Elizabeth Warren, who rails against banksters, voted against an audit of the vehicle they use to screw the public. What a hypocrite. The bill died by a vote of 53 to 44 (needing 60 votes to avoid a filibuster), thanks to most Democratic Senators voting "nay." Remember that vote the next time those statists claim to care about "ordinary folks."

Senate rejects Paul’s push to audit the Fed

 

[bendog]

Wow. Warren did something right. thanks.

 

[C_Clayton_Jones]

"Audit The Fed Vote Proves Democrats are Liars"

Actually it proves that libertarians and others on the ridiculous right childish, naïve, and wrong.

 

[NightFox]

Elizabeth Warren, who rails against banksters, voted against an audit of the vehicle they use to screw the public. What a hypocrite. The bill died by a vote of 53 to 44 (needing 60 votes to avoid a filibuster), thanks to most Democratic Senators voting "nay." Remember that vote the next time those statists claim to care about "ordinary folks."

Senate rejects Paul’s push to audit the Fed

Of course, in Liz Warren's world the central bankers are the "ordinary folks" , these hypocritical pricks sure do protect their own.

"Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants; electric light the most efficient policeman." -- Justice Louis D. Brandeis

 

[Stephanie]

But of course they would reject it. they are making Millions off of it. but they sell a good line of how they are so against THE BANKS. just like everything is because of Republicans.

fools who votes for that party

 

[Hedgology]

As far as I know, the Federal Reserve is audited…

https://oig.federalreserve.gov/reports/board-financial-statements-2014-2013-mar2015.pdf

 

[NightFox]

As far as I know, the Federal Reserve is audited…

https://oig.federalreserve.gov/reports/board-financial-statements-2014-2013-mar2015.pdf

Ummm..no, there are a plethora of Fed activities that are protected from audit, go read the proposed bill which called for a FULL independent audit of the central gangsters by the GAO, why do you think the Fed fought against this legislation so hard? .

 

[SuperDemocrat]

Elizabeth Warren, who rails against banksters, voted against an audit of the vehicle they use to screw the public. What a hypocrite. The bill died by a vote of 53 to 44 (needing 60 votes to avoid a filibuster), thanks to most Democratic Senators voting "nay." Remember that vote the next time those statists claim to care about "ordinary folks."

Senate rejects Paul’s push to audit the Fed

The federal bank is well protected by lovers of the government. Maybe their is a relationship between government power and government created monopolies. One protects the other.

 

[Hedgology]

As far as I know, the Federal Reserve is audited…

https://oig.federalreserve.gov/reports/board-financial-statements-2014-2013-mar2015.pdf

Ummm..no, there are a plethora of Fed activities that are protected from audit,

Such as? The only activities that are protected from an audit are Monetary Policy Operations.

go read the proposed bill which called for a FULL independent audit of the central gangsters by the GAO,

What, pray tell, is a FULL independent audit? Different member banks are audited differently, depending on their risk factors in their own banking operations, but that statement doesn't make any sense.

why do you think the Fed fought against this legislation so hard? .

Most likely because we don't want our monetary operations politicized by the political hacks who don't understand monetary policy.

 

[NightFox]

Such as?

Go read the bill, it's published and details exactly the activities which are currently not subject to scrutiny; if you want some examples of off audit - agreements with foreign banks, funding facilities, details of its discount window operations and open market operations; the agreements with foreign banks is the one in particular that raises my ire.

Most likely because we don't want our monetary operations politicized by the political hacks who don't understand monetary policy.

They're already "politicized" and becoming increasingly more so given the fact that the Fed is fighting so hard to keep its secrets. The fact of the matter is that the Fed doesn't want its secret sauce examined because it wants to keep the citizenry in the dark regarding the details of its monetary machinations, it's protecting the status quo because the status quo is exceedingly profitable for it and it's cronies.

There is absolutely no justification for the unelected officials of the central bank which has been given power over our money and credit by the American People having the authority to deny scrutiny of ALL of it's activities by the Representatives of the American People.

 

[Staidhup]

Sen Paul has but one objective, control the Fed. The only problem is the Senate and House have enough problems as it is. Need some examples? take a look at the mess they have created then decide if you want these clowns fucking up the monetary system as well. Shit, these clowns can't even balance the budget not less their own personal checking accounts.

 

[CrusaderFrank]

 

[eagle1462010]

It's tax payers money going to the gov't. Why shouldn't there be an audit of the whole dang shebang?

If they have nothing to hide then they should say go ahead. We should know how they handle the currency and money of this country.

Yes............they should be audited.

 

[Dovahkiin]

This is nothing more than a bill that removes the last barrier for the GAO to audit and "investigate" Fed meetings and monetary policy decisions. This entirely leaves to Congress both interest rate controls and the supply of money. The worst possible outcome to add that to the very body of government that generates legislation, economic policy, and budget matters.

Rand Paul, and now Bernie Sanders, are fulfilling the last step in the biggest power grab we could see.. And not only are so many unable to see it, they champion it as if this somehow benefits the people and our economy. (Both sides..) It does not even take a step to end the Fed, it only politicizes every single Fed decision...

It is beyond stupid, and it greatly accelerates our bubble/economic model.. entirely subject to political power and whim..

 

[Hedgology]

Such as?

Go read the bill, it's published and details exactly the activities which are currently not subject to scrutiny; if you want some examples of off audit - agreements with foreign banks, funding facilities, details of its discount window operations and open market operations; the agreements with foreign banks is the one in particular that raises my ire.

The NY Fed publishes details on the Fed's Open Market Operations, both temporary and permanent, as well as their discount window operations. These are regularly audited .

The Fed doesn't really engage in lending facilities, but even when it did, the Term Auction Facility (TAF), Primary Dealer Credit Facility (PDCF), and Term Securities Lending Facility (TSLF) were the only tools at their disposal, which was regularly reviewed during the financial crisis when it was utilized.

Again, I'm not sure what you think isn't regularly reviewed, but the only activities that are not audited (by law) are monetary policy operations and transactions carried out by the Fed on behalf of other central banks. The fact that you have a difficult time telling me what should be audited tells me you don't have a good grasp on how central banks operate.

They're already "politicized" and becoming increasingly more so given the fact that the Fed is fighting so hard to keep its secrets.

Monetary policy is politicized because central banks don't want you to review complicated matters? Do you know what the word politicized means?

The fact of the matter is that the Fed doesn't want its secret sauce examined because it wants to keep the citizenry in the dark regarding the details of its monetary machinations, it's protecting the status quo because the status quo is exceedingly profitable for it and it's cronies.

There is absolutely no justification for the unelected officials of the central bank which has been given power over our money and credit by the American People having the authority to deny scrutiny of ALL of it's activities by the Representatives of the American People.

OR, maybe the Fed doesn't what you to see their secrets is because, historically, in capitalist economies, elected leadership have set the objectives of central banks. There is already a ton of evidence, backed up by economic research, that giving politicians power over interest rates and the supply of credit hurts the economy over time. This is because politicians, who only care about getting re-election, prefer more economic growth now, even if it means tons of inflation later on.

Given your sentiment, it doesn't really sound like you have a high aptitude for economics. Considering this, I have no interest in allowing the fed to give you, and the rest of people who think like you, access to information that is well above your pay grade.

That is, unless you are all planning on getting a basic B.S. in Economics.

 

[NightFox]

Sen Paul has but one objective, control the Fed. The only problem is the Senate and House have enough problems as it is. Need some examples? take a look at the mess they have created then decide if you want these clowns fucking up the monetary system as well. Shit, these clowns can't even balance the budget not less their own personal checking accounts.

Personally I understand your objections, I don't trust the dickweeds in Congress any more than you do, however I trust Central Bankers even less as they have a more sorted history than even politicians do. The other point to consider is that the Fed doesn't exactly have a stellar track record when it comes to handling the money supply, they've managed to destroy over 90% of the dollars value since it was conceived (behind closed doors by other less than savory bankers) and have been responsible for more than their fair share of bubbles and busts (like for example the last one we went through).

"The accepted version of history is that the Federal Reserve was created to stabilize our economy. One of the most widely-used textbooks on this subject says: "It sprang from the panic of 1907, with its alarming epidemic of bank failures: the country was fed up once and for all with the anarchy of unstable private banking." Even the most naive student must sense a grave contradiction between this cherished view and the System's actual performance. Since its inception, it has presided over the crashes of 1921 and 1929; the Great Depression of '29 to '39; recessions in '53, '57, '69, '75, and '81; a stock market "Black Monday" in '87; and a 1000% inflation which has destroyed 90% of the dollar's purchasing power" -- G. Edward Griffin, The Creature from Jekyll Island

 

[Hedgology]

It's tax payers money going to the gov't. Why shouldn't there be an audit of the whole dang shebang?

If they have nothing to hide then they should say go ahead. We should know how they handle the currency and money of this country.

Yes............they should be audited.

The Federal Reserve isn't funded by government.

 

[eagle1462010]

It's tax payers money going to the gov't. Why shouldn't there be an audit of the whole dang shebang?

If they have nothing to hide then they should say go ahead. We should know how they handle the currency and money of this country.

Yes............they should be audited.

The Federal Reserve isn't funded by government.

They control our currency..............which is a countries currency...........so screw them...

Audit their asses.

 

[Hedgology]

It's tax payers money going to the gov't. Why shouldn't there be an audit of the whole dang shebang?

If they have nothing to hide then they should say go ahead. We should know how they handle the currency and money of this country.

Yes............they should be audited.

The Federal Reserve isn't funded by government.

They control our currency..............which is a countries currency...........so screw them...

Audit their asses.

That's not correct. The Fed influences currency via interest rates.

 

[eagle1462010]

It's tax payers money going to the gov't. Why shouldn't there be an audit of the whole dang shebang?

If they have nothing to hide then they should say go ahead. We should know how they handle the currency and money of this country.

Yes............they should be audited.

The Federal Reserve isn't funded by government.

They control our currency..............which is a countries currency...........so screw them...

Audit their asses.

That's not correct. The Fed influences currency via interest rates.

It's a nations currency they are influencing.............so sorry.........we would like to make sure you aren't double dealing with a nations currency with your influence.

Audit them.