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STAFF NEWS & ANALYSIS
Auditing the Fed Is Just the First Step
By Daily Bell Staff - February 24, 2017

Audit the Fed’ movement finally gaining steam? …  In early January, Senator Rand Paul reintroduced the Federal Reserve Transparency Act, and Representative Thomas Massie introduced companion legislation in the United States House of Representatives, thereby continuing the “Audit the Fed” movement started by then Congressman Ron Paul. -American Thinker

The Paul-Massie bills may indeed have pushed “audit the Fed” forward, but ultimately it is up to Donald Trump. He was very firm about it during the election. But as with some other promises, he seems less certain now that he has won the presidency.

Even during the campaign Trump did not talk much about shutting down the Fed, which is necessary if Americans are going to regain a modicum of freedom. At least he spoke about an audit.

More:

If the Republican Party truly value small government and fiscal responsibility, then now is the time to use their majority in Congress to audit the Federal Reserve System. The Audit the Fed movement offers an alternative to the prevailing regime of secrecy.

The Paul and Massie bills, which are identical in wording, would expose the Fed’s international transactions, especially those undertaken with foreign governments or central banks. They would also look into monetary policy deliberations by the Fed’s Board of Governors and the Federal Open Market Committee’s transactions.

… Specifically, the proposed legislation directs the Government Accountability Office to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks.

The Fed is actually subordinate to Congress, which has the ability to coin money and regulate its  value. A Bloomberg has found in polls that up to 75 percent are not satisfied with the Fed’s transparency.

A one-time previous audit after 2007, revealed that the Fed, perhaps illegally, lent nearly $5 trillion to foreign governments and central banks around the world. These included the central bank of Libya.  The loans were meant to provide liquidity to overseas central banks. But no one gave the US central bank the authority to make these loans.

Who knows what the Fed has done since then. We don’t know either how serious Trump is about auditing the Fed since Steven Mnuchin, formerly of Goldman Sachs, does not necessarily seem inclined to follow through.

Conclusion; Auditing the Fed is the first step to shutting it down. The Fed continually depreciates money, and at some point this renders money more or less valueless. It makes Trump’s vow to fix the economy all but moot. Once the Fed completes its audit, we will know more or less what is found. Then it will be time for the next step.

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  • LawrenceNeal

    The Federal Reserve Counterfeiting Scam is a Racketeer Influenced Continuing Criminal Enterprise.

  • Bruce C.

    One of my sister’s best friend is a good friend of Mnuchin. Over a dinner I asked her friend what she thought of him and she paused, and then just said, “I think he’s brilliant.” It wasn’t the place to press her any further, but I did express an interest in meeting him and she said she might be able to set it up. I hope that happens.

    In the meantime, this whole issue of the Fed and central banking is dicey so I wouldn’t assume Trump is backing down just because “he” hasn’t done anything about it yet. Even my wife, who is a lot more insightful and knowledgeable than most, thinks that attacking the Fed/CB wouldn’t be understood or appreciated by the vast majority and might even be successfully marginalized by the MSM.

    There is a lot going on here and thus a lot to consider.

    That said, as I’ve said before, Trump should be putting out basic, easy to understand facts about the Fed and central banking. Those preemptively expressed facts would help him as things unfold. I’m pretty sure the MSM wouldn’t recognize the strategic importance in uttering such obscure things, and thus let it be broadcast. It’s going to take time to educate people. I don’t know if even most “Trump supporters” understand what’s involved.

  • rahrog

    Let there be light!

  • TimeToWakeUPAmerica

    Anyone wishing to gain a better comprehension of what exactly went wrong in Western Civilization, and why we have arrived where we are now, might want to read the following:

    1) Is the New World Order “Jewish”?
    http://www.henrymakow.com/000808.html

    2) The “Jewish” Conspiracy is British Imperialism
    http://www.savethemales.ca/000447.html

    3) Banking Cartel is the Cause of Humanity’s Woes
    http://www.savethemales.ca/260602.html

    4) The Modern Anglo-Dutch Empire, by Robert D. Ingraham
    http://www.oaklandasp.comcastbiz.net/The%20Modern%20Anglo-Dutch%20Empire.pdf

    (Source: http://www.oaklandasp.comcastbiz.net/)

    5) [German] Historian Says Rothschilds are Chasid [Orthodox “Jew”-ish Sect] Puppets http://henrymakow.com/historian_demands_action_on_do.html

  • organicfoods

    An open public Fed audit would of worked much better, politically speaking, under the Obama’s watch.

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