Geitner: Auditing the Fed is a “line that we don’t want to cross”

LOL You seriously actually think that CHINA? Of all countries, they were actually AGAINST the ideas of bailouts and they're trying to figure out what to do with all the dollars they have because it's so worthless right now.

It's amazing the amount of conspiracy theorists there are on the internet. They act like the world is doomed and there's nothing we can do to stop it even though they claim things that have obvious weaknesses. But when you argue against them, BOOOO!!! It's not going to happen! The world will end! Death shall come to us all!

All the U.S people need to do is pass the audit and force the federal reserve open and that will be it, there is no gigantic movement here folks. Just a bunch of financial suits trying to play god like every other man who wants power in existence.
 
The sad fact of the matter is that a banking cartel pretty much controls our government. They siphon off a couple trillion dollars in wealth every year by counterfeiting that much money and then lending it to the rest of us peasants. Even if we don't take their loans, our savings are diluted, ensuring that only those with the exclusive right to create money will maintain control.

All the complaining in the world will not change the facts. Sure we are all in favor of the audit. But hell, they could audit tomorrow and prove that Rockefeller personally stole all the gold in Fort Knox and spent it on caviar enemas and I'm not sure anything would change. The media spin would still have the average American thinking the solution was to give the Fed more regulatory power.

The only thing that might begin to change your reality is learning how to save using hard assest which are not subject to inflation. Secontly, educating at a grassroots level so that one day the sheeple might stop voting for puppets and wondering why prices mysteriously rise every year.
 
Quote from RiceRocket:

This is exactly what China wants. They want the fed to be audited, the information released will outrage the international community and drop the dollar for IMF notes.
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1. Anybody with a lick of sense understands the situation on the Fed's books already. The details an audit might uncover are relatively unimportant given the big picture.

2. China has more USD than god - why on earth would they cut their own throat like that?

3. All you will net out is replacing the Fed with the IMF - I fail to see how replacing one group of bankers with another is going to solve anything.
 
Quote from krazykarl:

We, as taxpayers, don't own any shares in the Fed. Your analogy is fail. A reserve note is NOT OWNERSHIP IN THE FED - IT"S A MARKER FOR SOMETHING THE FED HAS. When you play poker in a casino you exchange your dollars for poker chips - this doesn't mean you own part of the building or part of the company that runs the casino!! Using your logic every IOU California issued should be able to be redeemed for any piece of land in the state, even if someone else owns it free-and-clear.
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What? Look, we as a collective group of citizens pay taxes in dollars we work for to the government. Those taxes are expected to provide us with basic essentials, protect us from harm, etc., be we absolutely have a right to know how they are used.
 
The sad fact of the matter is that a banking cartel pretty much controls our government. They siphon off a couple trillion dollars in wealth every year by counterfeiting that much money and then lending it to the rest of us peasants. Even if we don't take their loans, our savings are diluted, ensuring that only those with the exclusive right to create money will maintain control.
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Very nice, a succinct and accurate description of the present system.

China has more USD than god - why on earth would they cut their own throat like that?
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They would be willing to eat the loss if they can use it to their long term advantage.

We, as taxpayers, don't own any shares in the Fed.
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The Fed has a charter from the government that we (supposedly) elect. The money it creates is a claim on my labor and goods. If it is creating new money not backed by adequate collateral, and giving the new money to private parties such as a bank, it is in effect giving the bank an unearned claim on my labor and my property. This sounds a damn lot like serfdom.
 
Quote from ipatent:

Very nice, a succinct and accurate description of the present system.



They would be willing to eat the loss if they can use it to their long term advantage.



The Fed has a charter from the government that we (supposedly) elect. The money it creates is a claim on my labor and goods. If it is creating new money not backed by adequate collateral, and giving the new money to private parties such as a bank, it is in effect giving the bank an unearned claim on my labor and my property. This sounds a damn lot like serfdom.
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Yup. That's what we are to the banko-trafficantes.
 
This is probably the most naive statement I've ever read about the Fed. Go do some homework.

Quote from ammo:

the fed is an independent agency hired by the us govt, much like an outside auditor for say Firestone. The fed is obligated to show Congress anything they ask for
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Even more naive for agreeing with that statement. This is the problem with the lay public. They don't have a clue what power the Fed has. Absolutely no clue.

Quote from Sodajerk:

Absolutely. The entity, in this case We the People though our hired fiduciaries in Congress, that issues a charter has the power to revoke it also.



Right.
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Quote from ipatent:

If it is creating new money not backed by adequate collateral, and giving the new money to private parties such as a bank, it is in effect giving the bank an unearned claim on my labor and my property. This sounds a damn lot like serfdom.
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If it is handing out money without good collateral in return, the Fed is breaking the law, and Congress has a right to oversee enforcement of the laws it created.
 
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