This is incorrect: "The public has the right to know what exactly the Fed is doing with their money. " Federal Reserve Notes are not "the public's" money. They are the Fed's money. The public is the debtor, the Fed is the creditor, so FRNS (so-called "US Dollars", a misnomer) are quite literally and legally the property of the Fed. The public is only on the hook for what the Fed prints (lends into existence). All the more reason to audit that damn outfit.