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HM2VikingRN HM2VikingRN (New Member) New Member

96-0 "Audit the Federal Reserve"

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Senate Adopts Sanders' 'Audit The Fed' Amendment | TPMDC

The Senate today voted overwhelmingly to adopt an amendment, authored by Sen. Bernie Sanders (I-VT), forcing a comprehensive review of the Federal Reserve's emergency lending activities. The amendment passed by a 96-0 vote.

Though the measure was always popular, it faced extraordinary opposition from the White House, Wall Street and the Fed itself. Late last week, in a move that defused the opposition, and may have saved Wall Street reform legislation, Sanders agreed to limit the scope of the audit to emergency lending only, exempting other Fed activities.

That preserved the broad intent of the plan, which was always aimed at bringing the Fed's shadowy activities during the financial crisis into the daylight. Under the terms of the proposal, the Fed will also be required to make public which companies received upwards of $2 trillion in aide from the Fed, and under what terms.

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Audit one of the most useless, worthless institutions ever created...hmmm. YES! ("Out of money? Let's just print some more! That'll work!")

My understanding is that it's a weakened bill from the original (aren't they always) but it's a start. Ron Paul (:redbeathe) has been trying to do this for years now. It's about time.

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Audit one of the most useless, worthless institutions ever created...hmmm. YES! ("Out of money? Let's just print some more! That'll work!")

My understanding is that it's a weakened bill from the original (aren't they always) but it's a start. Ron Paul (:redbeathe) has been trying to do this for years now. It's about time.

That you call it useless and worthless belies your lack of understanding.

My gripe with the Fed is that it gets way too much independence, and that the people who keep screwing up over there are simply reappointed.

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Please, tell me one worthwhile thing the Fed has done in, say, the last decade. I'd love to change my opinion of them, as I'm always pleasantly surprised to find that an agency (public or private) in which the government intervenes so much as it does with the Fed actually has a good use.

If it sounds like I'm being a smart aleck, my apologies. :) I'm serious.

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My gripe with the Fed is that it gets way too much independence, and that the people who keep screwing up over there are simply reappointed.

Much like our Federal Government.

I agree that an audit of the Federal Reserve would probably be enlightening and is way overdue. Same with pretty much every aspect of our government in this country. Too much ability to spend money and influence the economy, with far too little accountability.

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Been reading P.J. O'Rourke this morning . .. .

"The Democrats are the party that says government will make you smarter, taller, richer, and remove the crabgrass on your lawn. The Republicans are the party that says government doesn't work and then they get elected and prove it."

"The good news is that, according to the Obama administration, the rich will pay for everything. The bad news is that, according to the Obama administration, you're rich."

"The mystery of government is not how Washington works but how to make it stop."

"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators."

"You can't get rid of poverty by giving people money."

"America wasn't founded so that we could all be better. America was founded so we could all be anything we damned well pleased."

"Anyway, no drug, not even alcohol, causes the fundamental ills of society. If we're looking for the source of our troubles, we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power."

"Every government is a parliament of whores. The trouble is, in a democracy, the whores are us."

"Feeling good about government is like looking on the bright side of any catastrophe. When you quit looking on the bright side, the catastrophe is still there."

"Government proposes, bureaucracy disposes. And the bureaucracy must dispose of government proposals by dumping them on us."

steph:coollook:

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Please, tell me one worthwhile thing the Fed has done in, say, the last decade.

Well, ummmm....they...ummmm....they did things. Yeah! That's it! They did things, and that's why our economy is doing just peachy keen now, the too-big-to-fail banks & bankers have plenty of virtual money, and we're seeing CHANGE. Yup...change. Little Timmy Geithner says everything is gonna be just fine.

Sorry, gotta go clean up my wheelbarrow. I hate using a dirty wheelbarrow when carting stacks of fiat currency to the local bakery to get a loaf of bread.

GO FED!!!!

For a good book on the Fed, you might read The Creature From Jekyll Island.

Amazon.com: The Creature from Jekyll Island : A Second Look at the Federal Reserve (9780912986210): G. Edward Griffin: Books

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