The Fed gonna get audited?

[Burning Hammer]

http://www.marketwatch.com/story/house-panel-passes-bill-to-audit-the-fed-2017-03-28]

http://www.reuters.com/article/us-usa-fed-congress-idUSKBN16Z2GJ

confirmed real

If true, holy shit. I'm sure someone is going to die before this happens if it's even remotely true.

 

[bobgeese]

I wish I knew enough about monetary policy etc to understand the actual implications. Hopefully some sherdogger will enlighten us.

 

[VivaRevolution]

http://www.marketwatch.com/story/house-panel-passes-bill-to-audit-the-fed-2017-03-28

If true, holy shit. I'm sure someone is going to die before this happens if it's even remotely true.

I believe what this bill will do is audit the FED meeting minutes. Unless it is retroactive, all it will mean is that banksters can't openly collude in those meetings without people finding out.

 

[GhostZ06]

God damn ghost of ron paul lives

 

[Vitor CroCop]

I wish I knew enough about monetary policy etc to understand the actual implications. Hopefully some sherdogger will enlighten us.

@Greoric
@Jack

 

[Stoic1]

Too big to fail.

 

[trident]

Must be ok with the Fed because otherwise those rats in DC wouldn't make a move.

 

[Teppodama]

Government auditing Government.

 

[Jack V Savage]

I wish I knew enough about monetary policy etc to understand the actual implications. Hopefully some sherdogger will enlighten us.

The Fed is audited regularly and publicly. No new law is needed for that. The reporting on this bill is terrible, and it's hard to say what it even does, but I'm gathering that it reduces the amount of time that deliberations are sealed? The transcripts of deliberations are all public, but with a lag, which is designed to encourage people to speak more freely and without politics getting involved in the decisions, while this could be an effort to make Fed deliberations more sensitive to the needs of partisan politics.

From the Reuters story:

Currently, the Fed publishes detailed audits of its finances but it keeps the inner workings of its monetary policy deliberations secret, publishing transcripts of policy meetings only with a five-year lag.

 

[JohnnySagebrush]

I wish I knew enough about monetary policy etc to understand the actual implications. Hopefully some sherdogger will enlighten us.

Well, it has to pass before it affects anything.
And audit means just that, unless some dipshits in Congress think it is a good idea for them to influence or set monetary policy.

 

[AviatorShades]

Democrats uniformly spoke against the proposal during a meeting of the House of Representatives Committee on Oversight and Government Reform, suggesting the bill would face stronger resistance than in the past.

"We should not in any way hinder their independence," said Representative Carolyn Maloney, a New York Democrat, echoing the sentiment of Fed policymakers who say they could come under political pressure to avoid making unpopular decisions such as raising interest rates to slow growth and control inflation.


kekekeke

 

[ultramanhyata]

The Fed is audited regularly and publicly.

More Illuminati disinfo.

 

[Rod1]

If true, holy shit. I'm sure someone is going to die before this happens if it's even remotely true.

Why?

 

[Rod1]

Must be ok with the Fed because otherwise those rats in DC wouldn't make a move.

This reminds of the time i met a guy online who thought Snowden was a planned leak, because if it had been a true leak he would had revealed that 9/11 was an inside job.

 

[TeTe]

Burn it all down and start over

 

[Seano]

We should do this every 5 years or so.

 

[Jack V Savage]

We should do this every 5 years or so.

The GAO has audited the Fed over 100 times since 2008. The Inspector General's office audits the Fed every year, and an independent outside auditor separately audits Reserve Banks annually. Plus, the Fed publishes balance sheets weekly.

What should we do every 5 years or so? There's a 5-year lag on meeting transcripts, and those are devoured when they come out.

 

[Quipling]

We should do this every 5 years or so.

So you want the fed to be audited less often?

 

[Seano]

What should we do every 5 years or so? There's a 5-year lag on meeting transcripts, and those are devoured when they come out.

A full audit of all branches of government. I'm not sure what I said that confused you.

 

[Seano]

So you want the fed to be audited less often?

Jesus, come the fuck on. The story is pretty clear about why this is different. Its not just a line by line audit of the numbers for formality's sake.