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Audit the Fed or Washington Rope-a-Dope

Posted by Larry Doyle on January 13, 2010 8:47 AM |

The American public wants answers.

The Washington establishment, primarily in the persons of Ben Bernanke and Tim Geithner, clearly feel America can’t handle the truth. What truth? The depth of economic despair and problems primarily embedded in our nation’s financial system. What institution has tried to fill the hole in our financial system? The Federal Reserve.

Given the shadowy operations of the private institution that is our central bank, Americans are justifiably nervous and concerned as to what lurks behind the shadows inside the Federal Reserve. To this end, with the leadership of Ron Paul (R-TX) the calls to ‘audit the Fed’ are growing ever stronger.

Fed Chair Ben Bernanke is concerned that if he acquiesces to the public’s call, he may lose independence over monetary policy and go down in history as the central banker who caved to public pressure.

In my opinion, the public’s concern currently is focused on the growing size and illiquidity of the assets on the Fed’s balance sheet. Bernanke as much agreed to a Fed audit as long as the line is drawn to exclude interference in monetary policy.

While the Fed and its supporters play the ‘rope-a-dope’ in an attempt to stall the debate, the American public is growing increasingly anxious.

Cut a deal. Compel the Fed to open its books. Leave monetary policy outside the purview of the audit. Reveal the nature of its holdings and let’s get on with it.

Give truth and transparency a chance. Can it be worse than what we have currently?

LD

  • divvytrader

    Larry : did you see the CEO of TrimTabs report the other day there is significant evidence in his mind that Fed and/or Treasury has been buying stock at times since March 2009 ? Bernanke and Turbo Timmy Taxcheat both know that if it was revealed that they had a few hundred thousand S&P contracts on their balance sheet that we’d have a down 20% day knowing the whole rally in stocks was a fraud .

    At this juncture , they have no choice but fight calls for an audit tooth and nail because the truth might anihilate us .

  • Larry Doyle

    I did not see that report. Very interesting.

    Who in the American media or in Washington will pose that question of Bernanke and Geithner? Buying stocks is a clear violation of the Fed charter.

    A house of cards? You think?

  • This is key to our sorting out the whole mess that we call a ‘financial system’. The central bank is ground zero.

    Ladies, anyone who would like a very basic (and fun) primer on the Federal Reserve and what it is up to is welcome to visit: http://sonicninjakitty.wordpress.com/2009/12/23/this-ones-for-the-girls/

    It’s so important that we all learn what it is and how it works–so we can demand the basic audit we deserve!!

    • Larry Doyle

      SNK….Thanks for the lead on The Daily Bail. Guess who’s coming onto No Quarter Radio’s Sense on Cents with LD this Sunday evening?

  • Swen

    Just about everything to do with the Feb is unsavory.
    From the sleazy way it came to be to it’s recent activities.

    Why is the Central Bank of the U.S. a PRIVATE organization?
    Who EXACTLY are it’s owners .. and don’t give me the “its owned by the regional banks” reply. Those regional Feds are owned by someone. What’s more… it’s common knowledge that the New York Fed is the big dog calling the shots.
    Who owns the N.Y. Fed? Would it be the same folks that Goldman Sacks?

    Why are we even in this position. Get rid of the Fed!
    It’s a slimy, corrupt tool of the ultra wealthy and their primary tool for looting the country.

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