Would a full audit of the fed cause mass panic and undermine the central banks independence?Some economists are using this as an argument to impede an audit of the federal reserve. Is this a legitimate concern? |
Would a full audit of the fed cause mass panic and undermine the central banks independence?Some economists are using this as an argument to impede an audit of the federal reserve. Is this a legitimate concern? |
I hope so. People need to wake up some how! Central banks/Fed have been ripping us off since 1913 and it's time for America to wake up!
Audit the fed!!!!!!!!!!!!!
According to our Constitution we are not supposed to have a FED. Congress is supposed to regulate our monetary policy. They gave up their rights in 1913 and we as tax payers have been paying taxes for the interest that the fed charges ever since. There was no personal income tax before the federal reserve act. We are slaves to a banking cartel and it needs to stop. If it causes a panic to begin with then so be it. We need to see what they've been doing to us before our children and grandchildren are so enslaved that they can never have a life!
It would only cause mass panic if the audit showed that the fed was doing questionable things, so that argument actually works against them. Of course it would in a sense limit their independence; I think that's really the point. Having the public see what an organization does, even if it's only after the fact, can induce them to act more rationally, which in a sense limits their independence. How much sense does it make that the people running our economy can never called into question for their actions?!
As to what many economists are saying, it turns out that the fed pays the salaries of most economists (check out the article below), so I'm not surprised that they would like to continue to get paid.
This is a rare economic issue that both socialists and libertarians agree on! If you haven't looked into it much, I really suggest you should.
In other words, don't audit the fed because you won't like what you'll find.
People wonder why America has devolved into a 'gimme-something-for-nothing' mentality. It's because of things like this. The most successful people in our country are the ones who don't follow the rules and complain the loudest.
yep