Suppose Ron Paul's bill to audit the Fed goes becomes law: what effects should we expect the exposure of the Fed's fraudulent accounting to have on the global markets/economy? Obviously the Fed is an abomination and should not exist; and obviously since it does exist, it should be audited thoroughly; however, is such necessary exposure going to wreak havoc? If so, how should we be bracing ourselves?
Quod licet jovi non licet bovi.
Nothing is going to come from HR1207. Even if it passes, it will be at least one year until the GAO offers it's audit results. The Pentagon has been exposed as losing trillions ever year, and no one is rioting in the streets.
The worst thing to happen to libertarianism is doomsday worship. People need to focus on education, not armageddon IMHO.
liberty student: Nothing is going to come from HR1207. Even if it passes, it will be at least one year until the GAO offers it's audit results. The Pentagon has been exposed as losing trillions ever year, and no one is rioting in the streets. The worst thing to happen to libertarianism is doomsday worship. People need to focus on education, not armageddon IMHO.
So on the upside getting the Fed. Reserve audited is at least more publicity that the Federal Reserve exists. But that's the narrow upside I see coming out of this. I agree LS.
So... the books are cooked anyways and right now it's out that the Federal Reserve lost (used but no answers about its location) about $9 trillion dollars in about 6 months and not much is coming out of that. $9 trillion lost - I mean how many recent years of combined GDP for the U.S. is that and not much of a pin drop anywhere.
I am debating a "liberal" in another forum who has brought these reports that show the results of the fed being audited.
http://www.federalreserve.gov/monetarypolicy/files/BSTFRcombinedfinstmt20072008.pdf
http://www.gao.gov/new.items/d09722r.pdf
Why is HR1207 necessary if the federal reserve is already being audited?
~SC
Maybe it will help clear up this mystery posted in another thread by Captain Amerika?
http://seekingalpha.com/article/143462-strange-inconsistencies-in-the-134-5-billion-bearer-bond-mystery
Maybe it will bring to light where the gold in Fort Knox went?
Maybe it will help educate the masses on how our funny money shitstem works?
Maybe it will hasten the eventual collapse of Federal Reserve Notes?
Most likely though it will just all be swept under the rug with an 'Official Report on the Fedral Reserve'?
Current audits by Deloitte and GAO are lomited and not independant,
We are the soldiers for righteousnessAnd we are not sent here by the politicians you drink with - L. Dube, rip
bbnet: Maybe it will help clear up this mystery posted in another thread by Captain Amerika? http://seekingalpha.com/article/143462-strange-inconsistencies-in-the-134-5-billion-bearer-bond-mystery Maybe it will bring to light where the gold in Fort Knox went? Maybe it will help educate the masses on how our funny money shitstem works? Maybe it will hasten the eventual collapse of Federal Reserve Notes? Most likely though it will just all be swept under the rug with an 'Official Report on the Fedral Reserve'?
I will choose "E" Most likely though it will just all be swept under the rug with an 'Official Report on the Fedral Reserve'?
It sounds like the ocean, smells like fresh mountain air, and tastes like the union of peanut butter and chocolate. ~Liberty Student
First of all, I don't expect the media to cover the audit honestly should the resolution pass, therefore I wouldn't expect the general public to either a.) have any idea what the audit's results were or b.) receive the proper inferential treatment as to what the results should mean in terms of policy. In other words, I don't think much will happen in a general sense. But I DO think it will be ammunition for further AE based attacks on the Fed.