How about the American people hiring an independent accounting firm to audit Congress? I’d like an answer as to how they all become multimillionaire on $170K per year salaries.
Interestingly, the Mises article doesn't mention auditing the Fed for its greatest sin: inflationary, unproductive money creation. Most people know the Fed creates new bank reserves every time it purchases an asset (T-bond) from a private investor. But that is only half the story and the less important half. The more important part is that in purchasing assets, the Fed also creates new spendable money in the form of a bank deposit, giving the selling investor new purchasing power that, when reinvested, drives up asset prices. Between 2009 and 2022, the Fed, all by itself, added $8 Trillion to the broad money supply, on a total money supply of $21.5 Trillion. There's nothing like it in financial history, and it deserves official scrutiny.
Neutering the Federal Reserve back into something very basic again probably will happen if a grand reset occurs on the global financial system. Until that though I'm not holding my breath, too much exuberant, bubbly, cheap money, good ol'boy headwinds.
Years ago I decided to dig into the FR and find out what all the fuss is. So I went to their website. Well it just rocks! It is one of the nicest well organized professional sites I've ever been on. So after an hour I decide to give it up and try another day. I go back a week later and dig in again.. I'm overeducated and comfortable with reading fine print, legalese, etc. This is what I found. An awesome website designed to lead you nowhere. It is designed so that you will give up and go away. Their website will teach you nothing about what they do. My simple investigation left me with two distinct findings. 1-they don't want you to know anything about what they do and 2-it needs a stake driven through it's heart, just like most of our gov. agencies. Resist! Hold Fast!
The Fed Governors understand the data they use to make decisions. As in, literally know the words and numbers. The investigation team will understand the process by which those decisions were made. But the elected officials appear to have no clue, or are too corrupt to act on any findings.
Before Congress addresses the Fed (which won’t happen) there needs to be a ban on trading by members of Congress (also won’t happen). At ease soldier!
Who should audit the US Congress?
Should pigs fly?
How about the American people hiring an independent accounting firm to audit Congress? I’d like an answer as to how they all become multimillionaire on $170K per year salaries.
Yes.
Interestingly, the Mises article doesn't mention auditing the Fed for its greatest sin: inflationary, unproductive money creation. Most people know the Fed creates new bank reserves every time it purchases an asset (T-bond) from a private investor. But that is only half the story and the less important half. The more important part is that in purchasing assets, the Fed also creates new spendable money in the form of a bank deposit, giving the selling investor new purchasing power that, when reinvested, drives up asset prices. Between 2009 and 2022, the Fed, all by itself, added $8 Trillion to the broad money supply, on a total money supply of $21.5 Trillion. There's nothing like it in financial history, and it deserves official scrutiny.
There's no need to waste Time & Resources on such form of modern moron slave Entertainment.
I already KNOW that the result of the audit would reveal that EVERYTHING IS AWESOME at the SRF private Bank!
*sigh*.....If we could only get congress to pay attention to the GAPP....
Neutering the Federal Reserve back into something very basic again probably will happen if a grand reset occurs on the global financial system. Until that though I'm not holding my breath, too much exuberant, bubbly, cheap money, good ol'boy headwinds.
Years ago I decided to dig into the FR and find out what all the fuss is. So I went to their website. Well it just rocks! It is one of the nicest well organized professional sites I've ever been on. So after an hour I decide to give it up and try another day. I go back a week later and dig in again.. I'm overeducated and comfortable with reading fine print, legalese, etc. This is what I found. An awesome website designed to lead you nowhere. It is designed so that you will give up and go away. Their website will teach you nothing about what they do. My simple investigation left me with two distinct findings. 1-they don't want you to know anything about what they do and 2-it needs a stake driven through it's heart, just like most of our gov. agencies. Resist! Hold Fast!
The intent is admirable, but asking congress to audit, investigate or otherwise limit the Fed is like asking the fox to audit the henhouse.
End the fed and all central banks.
I like the font you use, very much. What is its name, please?
I'm not being snarky!
The Fed Governors understand the data they use to make decisions. As in, literally know the words and numbers. The investigation team will understand the process by which those decisions were made. But the elected officials appear to have no clue, or are too corrupt to act on any findings.