Congress to audit the FED

[Kassz007]

Quote from achilles28:


The claim we need a Central Bank for any money-based economy is wrong. Gold and silver are unified methods of exchange without the need for a Central Bank. In fact, that's how most of the worlds economies operated before fiat money and Central Banking - gold and silver. Last, if you don't want to talk, that's fine. I'm not forcing you to discuss anything.

So all of the countries around the world are wrong and you are right?

You seriously are advocating we pay for everything in gold? Or silver? You are delusional if you think this is a possibility.

 

[achilles28]

Quote from Kassz007:

So all of the countries around the world are wrong and you are right?

You seriously are advocating we pay for everything in gold? Or silver? You are delusional if you think this is a possibility.

The entire world is about to implode from the largest debt bubble in history. Created by fiat Central Banking. You think that's a good idea? You think 1929 was a good idea, too?

Hard-money works, and will always work. I don't accept you to understand that because you're obviously brainwashed and ignorant on the matter. But hey. That's life.

And tell me, when this bus goes off the cliff, do you have enough money to support you and your family for a good 3-4 years? You better.

 

[Kassz007]

Quote from achilles28:

The entire world is about to implode from the largest debt bubble in history. Created by fiat Central Banking. You think that's a good idea? You think 1929 was a good idea, too?

Hard-money works, and will always work. I don't accept you to understand that because you're obviously brainwashed and ignorant on the matter. But hey. That's life.

And tell me, when this bus goes off the cliff, do you have enough money to support you and your family for a good 3-4 years? You better.

I am not afraid of the future as you are.

What good is the money I've saved if the world is going to implode anyways? Why am I brainwashed? Because I disagree with you that the sky is falling?

The basic truth of the matter is - nobody can predict the future, even though you pretend you can. When John Law's Mississippi Company bubble popped, I bet people were saying the same type of things you are right now. The fact of the matter is, civilization moves on and the world does not end.

 

[HiF trader]

Quote from Kassz007:

So all of the countries around the world are wrong and you are right?

You seriously are advocating we pay for everything in gold? Or silver? You are delusional if you think this is a possibility.

you are pretty stupid and dimwitted individual

No one is saying no fiat currency

WE ARE SAYING NO TO CURRENCY WITH INTEREST YOU DUMB LITTLE MAN

 

[HiF trader]

Martinghoul you lost. Take a look at the poll

People want FED audited, People want financial dark secrets out.

Your mumbo jumbo trying to confuse the issue is dead strategy.

 

[Kassz007]

Quote from HiF trader:

you are pretty stupid and dimwitted individual

No one is saying no fiat currency

WE ARE SAYING NO TO CURRENCY WITH INTEREST YOU DUMB LITTLE MAN

Hey troll/Dataa/HiF/whatever you are calling yourself today,

achilles made the comment about fiat currency. You are out of your league here, troll. Stick to the P&R forum where you belong. There are grown men talking in this thread.

 

[Kassz007]

Quote from HiF trader:


Your mumbo jumbo trying to confuse the issue is dead strategy.

Not suprised that you are confused by some of the material in this thread. There is a reason why you always think people on this forum are speaking mumbo jumbo...

 

[HiF trader]

Quote from Kassz007:

Hey troll/Dataa/HiF/whatever you are calling yourself today,

achilles made the comment about fiat currency. You are out of your league here, troll. Stick to the P&R forum where you belong. There are grown men talking in this thread.

Take a look at China and Russia, although they have other issues (mental issues) they print interest free FIAT currency for themselves.

NO DEBT

You can fire at me name calling. I will be a better man and fire facts at you.

 

[krazykarl]

Quote from HiF trader:

Martinghoul you lost. Take a look at the poll

People want FED audited, People want financial dark secrets out.

Your mumbo jumbo trying to confuse the issue is dead strategy.

This is ET: the leading contrarian indicator. You must be new here.

 

[krazykarl]

Quote from achilles28:

Wrong. Key aspects of FED operations can't be audited. Get off the Koolaid, bud.

"Currently, GAO lacks audit authority over the Federal Reserve's monetary policy, foreign transactions, and Federal Open Market Committee operations. Legislation pending before Congress would remove all restrictions on GAO's authority to examine Federal Reserve activities."
http://www.gao.gov/products/T-GGD-94-44


What does that mean in practice?

The GAO can’t review most of the Fed’s monetary policy actions or decisions, including discount window lending (direct loans to financial institutions), open-market operations and any other transactions made under the direction of the Federal Open Market Committee. It also can’t look into the Fed’s transactions with foreign governments, foreign central banks and other international financing organizations.
http://blogs.wsj.com/economics/2009/08/31/what-would-a-federal-reserve-audit-show/tab/article/


The Federal Reserve holds more raw power than the President of the United States, or Congress.

They can literally print, bribe, prop-up and bailout entire Countries, in total secrecy, by writing checks against America. Can you imagine what kind of power that is? A Saddam needs a few billion in slush money to wage war against Iran. Can't do it in the transparent public arena of Congress? Or under the Office of the President? Fine. Get a Volker to cut him a check. Need to fund the Contras, or wage some clandestine war against South American guerrillas off-balance sheet? Fine. Cut a check. Want to bribe half the judgeship in some Latin American shithole for British Petroleum? Great. Done.

Money makes the world go 'round. Anyone with the ultimate power to print BILLIONS in secrecy, and gift it to any Corporation, Foreign Government or Central Bank, that's PURE POWER. Warfare through proxies and total Crony Capitalism.

Imagine what people would do for a few million. Now imagine what they'd do for BILLIONS. The shortsightedness here is astonishing.

Your links talk about the GAO - not congress. Reread my post. The GAO can get a subpoena from congress to get the info from the Fed any time congress desires.