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-   -   Audit the FED (http://www.paceadvantage.com/forum/showthread.php?t=143672)

RunForTheRoses 03-08-2018 08:18 AM

Audit the FED
 

Tom 03-08-2018 09:01 AM

The Fed is the mother of all swamps.
It is the "Green Power Lantern" of the Shadow Government.

Kill it, it will be like killing the Queen bee.

chadk66 03-08-2018 09:13 AM

Never gonna happen

boxcar 03-08-2018 10:54 AM

Quote:

Originally Posted by chadk66 (Post 2287464)
Never gonna happen

I have some sources that I can't mention that tell me it's already happening.

If you recall, Trump during his campaign often voiced his displeasure for the Fed. Don't count Trump out -- even taking on the Fed. Trump is very big on restoring America's economic greatness, and he sees the Fed as a big obstacle to that goal. Moreover, other presidents have successfully brought the Fed under their thumb.

First thing, noted Kocherlakota, is that pressure from the executive branch on the Fed has traditionally ended poorly. One instance was right after World War II, when the Fed left interest rates unnaturally low so the government could borrow, sending inflation to 10%.

The second instance occurred under Lyndon Johnson and Richard Nixon (who, as Kocherlakota referenced, was caught on tape pressuring Fed Chair Arthur Burns to leave rates low) which led to low rates and the high inflation of the 1970s.


http://www.businessinsider.com/koche...eserve-2016-11

FantasticDan 03-08-2018 11:09 AM

Quote:

Originally Posted by boxcar (Post 2287497)
I have some sources that I can't mention that tell me it's already happening.

http://www.oldmagazinearticles.com/i...chkins_555.jpg

JustRalph 03-08-2018 11:20 AM

I’ve read that a Fed audit was stopped by a court that ruled there is no group with jurisdiction to audit. The court supposedly ruled there is no mechanism for change if an audit found problems. So there is no reason to audit.

This was years back. I don’t think anything has changed, so the Fed remains it’s own monster with no one to answer when it comes to oversight.

It’s an infallible monster apparently

boxcar 03-08-2018 11:22 AM

Quote:

Originally Posted by FantasticDan (Post 2287504)

And if they were, they'd still be more credible than any liberal's anonymous sources. :coffee:


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