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Auditing the Federal Reserve is More Urgent Than Ever

ggeyer Wrote: Jul 24, 2012 11:24 AM
"No government institution is more secretive than the Federal Reserve" Wrong! The Federal Reseve is NOT a government institution, it is a private bank. This is the first problem.
Corbett_ Wrote: Jul 24, 2012 11:45 AM
The statement is correct. No government institution IS more secretive than the Fed. It doesn't matter whether the Fed is a government institution or not. And it IS a quasi-governmental institution.

No government institution is more secretive than the Federal Reserve. Believe it or not, the Central Intelligence Agency (CIA) is more transparent than the central bank of the United States. This is a huge cause for concern as the Fed dramatically affects the lives of every single American.

The Fed has never been fully audited in its nearly 100-year history. The American people only got a small glimpse of what happens behind closed doors last July. A watered-down audit conducted by the Government Accountability Office (GAO) revealed $16 trillion in Fed bailouts to banks and corporations around the world at...