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Auditing the Federal Reserve is More Urgent Than Ever

mmuirhead Wrote: Jul 25, 2012 5:21 AM
Sure, the Fed gets "audited" fairly often, but that's no more than an analysis of its paperwork. Where exactly are the past 40 years' physical audits of America's gold, alone with a description of the provenance and debts attached to each gram of it? That's an amazingly simple part of auditing the Fed... and it ain't been done.

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...