View Poll Results: Yes or No, fed should be Audited

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  • Yes, the Fed should be Audited

    13 92.86%
  • No, the Fed should not be Audited

    1 7.14%
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Thread: Audit the Fed

  1. #1
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    Audit the Fed



    What do you guys think of all of this


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  3. #2
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    Yes audit the fed. Audit it like the wind. Obama was in favor of it until his boss Rom Emanuel told him not to. Believe me the Fed will never be audited. The truth would devalue our currency too much.

  4. #3
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    Uh, I thought we were a republic.

  5. #4
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    Quote Originally Posted by Psychotime View Post
    Uh, I thought we were a republic.
    Yeah, there seems to be a confusion about that. Some think we're becoming communist. I wish I were joking.

    This world is silly.

  6. #5
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    Quote Originally Posted by Raoul Duke
    Believe me the Fed will never be audited. The truth would devalue our currency too much.
    Very true. For a generation, the US has been in the process of "de-industrializing" itself so US-based transnationals could bolster their profits by sending factories overseas, with the paltry assurance that service and upper-income professional jobs would replace those middle-class jobs.

    In fact, the incomes from those lost jobs were never replaced...the US, with its ability to print money backed by overseas lending in the form of T-bills and T-bonds just patched the hole with easy credit...which is where the Fed comes in.

    People borrowed to make up for their missing income, starting with credit cards and working their way up (as they dug themselves deeper) towards the house they lived in. Naturally enough, a giant crisis occurred when the home loans came due for people whose incomes were insufficient to cover them, and the bottom fell out.

    I had some hope that this country might learn its lesson and rein in the banking sector and their careless ways, but the old powers still have too much teeth (thanks to derivatives and hedge funds, they make money in good times or bad), so expect the country to wallow in this job-free, near-recession state for several years (as Japan did in the 90s). Additionally, expect another major crisis down the road when the bad habits take hold again. Only this time, the overseas lenders will probably keep their wallets shut, and some truly lasting changes will have to be made when the US leadership realizes no one is coming to the rescue...

    Small comfort to the crowds of Americans living in tent cities and waiting in breadlines, of course...

    Quote Originally Posted by Psychotime
    Uh, I thought we were a republic.
    Constitution-based federal republic, to be specific...

    (I always like to point out the "federal" part for the benefit of the "states rights" crowd, who have a habit of forgetting that we fought a civil war over that one little word)
    On the whole, human beings want to be good, but not too good, and not quite all the time.
    - George Orwell


    By all means let's be open-minded, but not so open-minded that our brains drop out.
    - Richard Dawkins

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  8. #6
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    We should be critical of ourselves just as much if not more than the government.
    "Astronomy offers an aesthetic indulgence not duplicated in any other field. This is not an academic or hypothetical attraction and should require no apologies, for the beauty to be found in the skies has been universally appreciated for unrecorded centuries."

  9. #7
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    Quote Originally Posted by Raoul Duke View Post
    Obama was in favor of it until his boss Rom Emanuel told him not to.
    LULZ for speaking the truth...

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