Feb 05

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Why is the Fed scared of being audited?


Featured image DTP News 600 x 315

Giving every indication that they have something to hide, the Federal Reserve is speaking out forcefully against a bill being proposed by Sen. Rand Paul that they be audited by the Government Accountability Office (GAO). (Fed fires back at Rand Paul) (Rand Paul, thirty other senators renew call to audit the Federal Reserve)

If you saw the DTP article discussing how the reported US unemployment rate is being manipulated and that, in fact, in the ballpark of 12% of American adults are unemployed or substantially underemployed, how is a strong economy then driving the tremendous growth in the valuation of the stock market? It would appear that some other influence and not true economic growth and stability is a major influencing factor hidden from the American people. Many people tie this growth in the stock market valuation to the monetary policies of the Federal Reserve. At the same time, the near zero interest rates on savings accounts and CDs — again influenced substantially, it would appear, by the monetary policies of the Federal Reserve — are denying many Americans a fair income from their invested savings. Is this not social engineering favoring one group of investors over another? How do we know that what the Federal Reserve has been doing is appropriate? The only way to find out is to conduct a transparent audit. Yet, they decry this as being against their autonomy. Remember, they are not a constitutional body, but a legislatively created body and, hence, are answerable to the people through their elected representatives.

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