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Porcupine
10/16/13 5:05 pm

There is no gold. Nixon abandoned the Breton Woods agreement and defaulted from the international gold standard. This likely because other countries wisely took advantage of favorable trade factors and cashed out their fiat for all of our gold.

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Porcupine
10/16/13 5:08 pm

We should audit the Fed, that private for-profit bank, because they are a counterfeiting operation and they hoodwinked our elected fools into agreeing that WE would be on the hook for their GRAND larceny. We need to know what they have printed, what they *THINK* we owe, and who has been getting...

Porcupine
10/16/13 5:09 pm

special privileges and treatment. Then the whole corrupt mess should be shut down, the criminals rooming with Madoff, and all Fed assets, public AND private, forfeited to the country.

EarlyBird Portland
10/16/13 6:10 pm

Boy, your post got me fired up!
Audit! Audit!

TomM
10/16/13 4:29 pm

I never understand that the FED should be audited. What are you going to audit? Are you going to count the gold?

PeppyHare Do a barrel roll
10/16/13 4:39 pm

I think people are more interested in where the money is actually going and what it's used for. I think I read somewhere that they believe the watergate guys were paid off using Fed money. We might be funding foreign wars and not even know it.

TomM
10/16/13 4:45 pm

I understood it as they would audit the Federal Reserve. If they want to know where the tax dollars are going, then they should audit the department which they think is spending money inappropriately or the Treasury.

Processing On a journey to oneness.
10/16/13 5:19 pm

The Federal Reserve not Fort Knox (under the Treasury). I say audit the Fed because we don't know who owns the stock. The original stock was giving to the big banks, which have gotten bigger with mergers. The same banks who buy US Bonds then transfer them to the Fed, they make money all along the-

Processing On a journey to oneness.
10/16/13 5:21 pm

- Way. They get money from interest on the bonds, they then sell the bonds to the fed for a profit. The Fed then gets interest from the Bonds from the government creating a profit which the give 6% of back to the owners....

PeppyHare Do a barrel roll
10/16/13 5:23 pm

All fed profits are returned to the treasury. I think we just need to know what exactly they are doing and who they are loaning money to.