Europe is under the same control as the American government. The Bank of England and The Federal Reserve are run by the same banking cartel.
Which Central Banks are PRIVATE ???
- Thread starter Tresor
- Start date
http://www.publiceye.org/conspire/flaherty/flaherty6.html#7
An often repeated Federal Reserve conspiracy theory is that the Fed has never been audited. "Every year Congress introduces legislation to audit the FED," wrote Thomas Schauf, "and every year it is defeated."7 Why? Conspiracy theorists such as Schauf, Gary Kah (1991), and Pat Robertson (1994) say the reason is that the Fed is involved in an international plot to subvert U.S. sovereignty and create a one-world government.
Price Waterhouse conducted an audit
The Board has also contracted with Coopers & Lybrand to conduct annual financial audits
Many other government reports on the audits of the Federal Reserve system are available on-line through the Government Printing Office website.
It is obvious that the Federal Reserve System is and has always been audited. It is difficult to imagine how Kah, Schauf, and other conspiracy theorists could not have come across this evidence in the course of their research. Perhaps they are merely poor researchers. Or maybe they are reluctant to acknowledge facts which contradict their basic thesis. Either way, their credibility among skeptical readers takes a sharp hit by making such obvious factual errors.
Pick a year:
http://www.newyorkfed.org/aboutthefed/annualreports.html
http://www.publiceye.org/conspire/flaherty/flaherty7.html
We can see from the table that the Fed's chief source of income is interest on government bonds. However, we can also see that 97% of the Fed's net income goes back to the Treasury.
The Treasury would have to pay interest on those bonds regardless of who owns them. At least when the Fed owns a bond, the Treasury is going to get back a substantial portion of the interest. From the Treasury's point of view, the more bonds the Fed owns, the better.
Why do you even bother posting? You don't even have an argument.
You posted a Fed website that simply shows their annual report. That's the same as Enron posting their annual report. The Fed audits itself, that means nothing. They hire out a Big 5 accounting firm, give them the books they want to give them and tell them what to do. It's a joke. Those same firms use the Fed for credit, there is a huge conflict of interest.
"Conspiracy Theory" Congress members want an independent audit. Why is it so hard for the Fed to say "Ok, go hire out a firm and we will open our books to an auditor of your choice"? The GAO has been doing nothing except asking questions that never get a real answer.
It's obvious you have an agenda and are paid to promote it. But assuming you just don't get it, why would anyone with a bit of intelligence just accept what an institution full of controversy like the Fed is trustworthy just because it says it is. When an investor goes to buy a business and is looking at the books, does he just say everything is dandy if the seller says "I audited myself, everything is great"? Come on.
With regards to auditting of the Fed, the 97% profit returned to the Treasury consists only of the interest on governmental securities it holds as 'reserves'. There is no reference to the member banks profits that use these 'reserves' in the creation of loans.
Profoundly Exceptional Book. Link attached for your convenience.
http://www.amazon.com/Web-Debt-Shoc...=sr_1_1?ie=UTF8&s=books&qid=1232746796&sr=1-1
http://www.amazon.com/Web-Debt-Shoc...=sr_1_1?ie=UTF8&s=books&qid=1232746796&sr=1-1