Ok what's this little ad banner that keeps popping up at the top of the page - about H. R. 459 or whatever, to supposedly grant the government the power to audit the Fed's books?

Anyone heard of this, or have any info on it?

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Audit The Fed Bill On Track To Pass House [UPDATE]

RP turn into Vince Foster?

I wonder if Eric Holder, TurboTax Geithner & B.O. are afraid of such an audit. Will it be another Executive Priviledge?

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Annoy a Liberal, Read the Constitution

When in school did they teach you that the Federal Reserve was a part of the executive branch?

Yes, did you ever learn in school that the Secretary of Treasury has to do with funding? In the case of today's administration, the Attorney General Eric withHolder runs interference for the President.

Don't worry, you will hear from all three of them on this.

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Annoy a Liberal, Read the Constitution

Larry, if you learned somewhere that the Federal Reserve is part of the Executive Branch, where and when did that happen? Are you even certain what the "Fed" is, or what it does?

The Federal Reserve is NOT part of the government. The President has ultimate responsibility, however.

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Annoy a Liberal, Read the Constitution

Then what was the question about executive priviledge about? Again, are yolu sure you know what the "Fed" is?

Anyone who knows anything about Ron Paul and the Fed Reserve (which obviously excludes Larry) would know that Paul has been chomping at the bit for a FR audit for about 30 years now. This President or any other for that matter have nothing to do with this.

I hope it passes both houses and we get to see what's going on in there. I do not see how it can be a bad thing.

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I have a strong feeling that Uncle Ben will not agree with you. He's scared to death of Ron Paul. That should be all you have to know about what's going on at the Fed.

There's a huge possibility the audit may be our undoing. If it would show a grand kite scheme for example.....then what?
Let's play wizard of Oz?

I'm all for it but?? What if?

This would allow for an audit of the Fed and the Fed Board of Governors but I could not figure out why the Board was included. I am not saying there is no reason for it, just that I could not figure this out.

A list of the co-sponsors of this bill, of which there are 271, includes people from both parties, so this is not just some Tea Party thing to make them look like they are doing something. (I only mention the Tea Party since Paul Rand is tied to them and is the Sponsor of the Bill.)

But it is one thing to pass a bill and another to make it work. Is this bill Constitutional? I don't know and don't feel qualified to answer the question but I am sure it will be asked.

This will likely wind up in court if it passes. But that's OK, the country is not going anywhere and the Fed will still be around when a final decision comes down.

But the fear that the Fed will be uncovered to be nothing but a big check floating scheme.... I thought everyone already knew that.

Like an audit that works so well on the gov would work on the Fed.

There are two interesting things about that graph far beyond what was DREAMED OF in green:

Clinton's debt remained flat for the first two years, but went DOWN only after the mid term elections brought in a Republican congress.

Bush's debt went sharply UP when his mid term elections got him a Democrat congress.

Also the debt went UP when Reagan was trying to outspend the Russians. Worked too, evidenced by the wall coming down.

It also went up in the GW years in order to wage war after 9/11.

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Annoy a Liberal, Read the Constitution

There is ONE other interesting thing.

Post WWII we were willing to pay higher taxes and pay for the war.

The Reagan years had a strong economy, we did not need to run up the deficit. Reagan's military spending was government stimulation.