The moronic ninny nannying about the fed which has never been audited

[WordClock]

Here is an article suggesting that the fed has indeed been audited

http://undebunked.wordpress.com/

[Unintelligable Name]

It's shorthand for the actual meaning: "The fed has never been independently and comprehensively audited as it pertains to it's financial activities, not how many chairs or desks they have in every building. It's a secret what they really do."

I figured that was understood...

And a word of wisdom... don't listen to the Fed.

[Sane]

Why telling people that the FED has never been audited is a false argument.

http://undebunked.wordpress.com/

hey moron, the private, independent, and anti-constitutional federal reserve has never, ever been audited.

Not only that, but the clandestine owners of this labrinthof tyranny over the citizens of the US have executed many people including president John F. Kennedy.

Are you actually trying to spread such absurd insanity on a truth forum?

[Route24]

"Most Americans have no real understanding of the operations of the international moneylenders... the accounts of the Federal Reserve have never been audited. It operates outside the control of Congress and... manipulates the credit of the United States" - U.S. Senator Barry Goldwater in The Money Masters (1995)

[WordClock]

hey moron, the private, independent, and anti-constitutional federal reserve has never, ever been audited.

Yes I am a moron. I also happen to know about 5 people who work in the Fed buildings. 3 of them have shown me audit statements.

How many times does Alex need to tell you to independently verify everything he says before you actually start doing it? I know why Alex says the Fed has never been audited, my concern is that some of his listeners don't know why he says this. Chemicalrain made the correct point that it's shorthand for the long explanation. That's all fine and dandy to do as long as you know the long version AND the short version. It's time to start doing our own research and not relying on Alex to do it all for us.

Now, please do me the honor of actually reading the article I posted the link for and then tell me why you disagree with it. Just a suggestion.

Down with the FED!

[WordClock]

I would also like to thank the moderator of this forum for altering the title of my thread. Very honest and noble of you, I'm soooo glad I am able to pay your salary with my prison planet subscription only to have you alter my titles. Wow, it's so great to be part of such an opened minded community. Can you feel the love? I'll be sure and spread the good word. Wink, Wink.


Censorship is for the overly sensitive.

[TBPauly]

Ho hum...another agent provocateur, so easy to spot by the number of posts.

[WordClock]

Wow.

[37]

Strange article...it contradicts it's own title...  And it definitely contradicts the idea that you have seen proof that it has been audited.

There is a myth circulating around the internet that the Federal Reserve Bank has never been audited thus explaining our protagonist’s well intended false argument. Instead of ranting, “The Fed has never been audited,” he should have been ranting, “The Fed has never been properly audited!” The fact is that each regional Federal Reserve Bank is audited regularly. The problem is that these audits are not transparent and are not required to meet the same standards as audits performed on every other business. The Federal Reserve can’t account for billions of missing bailout funds that me and you, the taxpayers, will pay back to the government.

They call it an audit, but it's not.  Not by any standard anyone else has to live up to...

I would just add that the GAO has never done a complete audit of the Fed...certainly not like the audits they do for ACTUAL government agencies.

There are other things to complain about, though...

http://www.federalreserve.gov/aboutthefed/mission.htm

Misson
The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.

Today, the Federal Reserve's duties fall into four general areas:

    * conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates  Fail
    * supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers  Fail
    * maintaining the stability of the financial system and containing systemic risk that may arise in financial markets  Fail
    * providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system  Fail

Board of Governors...Section 10 of the Federal Reserve Act... http://www.federalreserve.gov/aboutthefed/section%2010.htm

1. Appointment and Qualification of Members
The Board of Governors of the Federal Reserve System (hereinafter referred to as the "Board") shall be composed of seven members, to be appointed by the President, by and with the advice and consent of the Senate, after the date of enactment of the Banking Act of 1935, for terms of fourteen years except as hereinafter provided, but each appointive member of the Federal Reserve Board in office on such date shall continue to serve as a member of the Board until February 1, 1936, and the Secretary of the Treasury and the Comptroller of the Currency shall continue to serve as members of the Board until February 1, 1936. In selecting the members of the Board, not more than one of whom shall be selected from any one Federal Reserve district, the President shall have due regard to a fair representation of the financial, agricultural, industrial, and commercial interests, and geographical divisions of the country. The members of the Board shall devote their entire time to the business of the Board and shall each receive an annual salary of $15,000, payable monthly, together with actual necessary traveling expenses.

http://www.federalreserve.gov/generalinfo/faq/faqbog.htm

How are the Chairman and members of the Federal Reserve Board of Governors selected, and what is the term of office?

The seven members of the Board of Governors are nominated by the President of the United States and confirmed by the U.S. Senate. By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country," and no two Governors may come from the same Federal Reserve District.

They are all professional bankers or members of academia specializing in economics...and they all just happen to believe in central banking.

There is not one representative of any of the largest industries in this country...other than the financial industry.  Agricultural or Commercial?

Central Banking is an experiment America has attempted twice before.  

It always fails the people, but rewards the corrupt politicians and thieving bankers.

http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

Who owns the Federal Reserve?

The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

The Fed is our third failed attempt at central banking.  It is illegal and it operates completely independent.  To say it is owned by no one is a bald faced lie...it's owned by the American Taxpayer.  And, it should be providing a profit for those taxpayers...not overseeing the largest financial crisis in fvcking history.  It is supposed to answer to Congress but, over half of Congress is dissatisfied with their ability to oversee the operation.  That's why they support Ron Paul's bill.

[WordClock]

Strange article...it contradicts it's own title...  And it definitely contradicts the idea that you have seen proof that it has been audited.

Well thanks for at least reading it before you spit in my face.

My article says: The Fed is audited all the time. It's not the same audit process as other business. There needs to be a reform in the process as Ron Paul encourages.

The Fed is not a virgin is the title of my thread.

How do these things contradict each other?

[37]

Yes I am a moron. I also happen to know about 5 people who work in the Fed buildings. 3 of them have shown me audit statements.

Yeah, did it say how much gold the Fed is holding and where it is? 

Did it say what foreign banks the Fed has given bailout money too?

Did it show who exactly has gotten loans from the Fed and how much they received?

[37]

Well thanks for at least reading it before you spit in my face.

My article says: The Fed is audited all the time. It's not the same audit process as other business. There needs to be a reform in the process as Ron Paul encourages.

The Fed is not a virgin is the title of my thread.

How do these things contradict each other?

According to your article the Fed is a virgin when it comes to being audited like every other business in America.  

It hasn't ever been audited...it has reported a few scant details.  In an "audit" auditors from an independent agency come and take your books and analyze EVERYTHING!!!  And if they ask for it you are required to give it.  They probe deeply.

The Fed has never even been finger banged by an independent and thorough audit.

Therefore it is completely legitimate to say it has NEVER been audited.  And is, in fact, incorrect to say that it has been.  It hasn't Period.

The article is dumb...as shit.

[WordClock]

Yeah, did it say how much gold the Fed is holding and where it is?

Did it say what foreign banks the Fed has given bailout money too?

Did it show who exactly has gotten loans from the Fed and how much they received?

Nope. Nope. Nope. That's exactly why I stand behind Ron Pauls pre-gutted HR1207 bill calling for Transparency in the audit process for the Fed. I believe that's all in the article.....no wait....that was the entire point of the article.

[37]

You're just being a twit now.  

Why telling people that the FED has never been audited is a false argument.

http://undebunked.wordpress.com/

But, it's not a false argument.  The Fed has never been audited.

[WordClock]

It hasn't ever been audited...it has reported a few scant details.  In an "audit" auditors from an independent agency come and take your books and analyze EVERYTHING!!!  And if they ask for it you are required to give it.  They probe deeply.

Wrong. It HAS been audited. It hasn't been audited the same as every other business like it should be but it HAS been audited. The Fed is not like all other businesses in that it must be very careful with it's information. That is their little loophole. Eventually they will be forced to tell us where our money went but not until we all understand what is going on. We need to close the loophole. How can we do that if nobody knows about the loophole?

[37]

You can call a fart an "air freshener", too.

Are you twelve, or what?

It has not been audited.  It has claimed to be audited.  

Why does the Fed need to be careful about the info it gives out?

It should only be lending to depositories and those all have to subject themselves to potential audits...real audits not the fluffy stuff the Fed calls an audit, but obviously isn't.

[WordClock]

Why does the Fed need to be careful about the info it gives out?

Gee, I wonder. Do I really need to answer that for you?

[WordClock]

Definition of the word audit.

http://en.wikipedia.org/wiki/Audit

[WordClock]

The Board of Governors, the Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review. Under the Federal Banking Agency Audit Act (enacted in 1978 as Public Law 95-320), which authorizes the Comptroller General of the United States to audit the Federal Reserve System, the General Accounting Office (GAO) has conducted numerous reviews of Federal Reserve activities. In addition, the Board's Office of Inspector General (OIG) audits and investigates Board programs and operations as well as those Board functions delegated to the Reserve Banks. Completed and active GAO reviews and completed OIG audits, reviews, and assessments are listed in the Board�s Annual Report (before 2002, the reviews were listed in the Board's Annual Report: Budget Review).

The Board's financial statements, and its compliance with laws and regulations affecting those statements, are audited annually by an outside auditor retained by the OIG. The financial statements of the Reserve Banks are also audited annually by an independent outside auditor. In addition, the Reserve Banks are subject to annual examination by the Board. The Board's financial statements and the combined financial statements for the Reserve Banks are published in the Board's Annual Report.

[37]

 

The Board of Governors, the Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review. Under the Federal Banking Agency Audit Act (enacted in 1978 as Public Law 95-320), which authorizes the Comptroller General of the United States to audit the Federal Reserve System, the General Accounting Office (GAO) has conducted numerous reviews of Federal Reserve activities. In addition, the Board's Office of Inspector General (OIG) audits and investigates Board programs and operations as well as those Board functions delegated to the Reserve Banks. Completed and active GAO reviews and completed OIG audits, reviews, and assessments are listed in the Board�s Annual Report (before 2002, the reviews were listed in the Board's Annual Report: Budget Review).

The Board's financial statements, and its compliance with laws and regulations affecting those statements, are audited annually by an outside auditor retained by the OIG. The financial statements of the Reserve Banks are also audited annually by an independent outside auditor. In addition, the Reserve Banks are subject to annual examination by the Board. The Board's financial statements and the combined financial statements for the Reserve Banks are published in the Board's Annual Report.

"the General Accounting Office (GAO) has conducted numerous reviews of Federal Reserve activities"

A review isn't really an audit, is it?

[Orgetorix]

Would you just quit with these stupid semantical games. The Fed has never been fully audited. You can't argue that fact, so just take your troll fodder and go away.

[37]

the Board's Office of Inspector General (OIG) audits and investigates Board programs and operations

So, they have thoroughly audited themselves.  I feel better already. 

Here again, most people aren't allowed to audit themselves or hire the firm that is going to conduct the audit.  

Which begs the question...Is that really an "audit"?

[WordClock]

Keep spreading myths and see how far it gets you. Keep saying the Fed has never been audited and see if you don't get laughed at. Spreading mis-information and then shooting the messenger is both ignorant and irresponsible. Stay in denial like all the sheeple and don't do the research. Don't be opened minded and learn about what you've been told. See how far it gets you. They're laughing at us because they think we don't understand. Looks like they are right.

[Loungeagainstthemachine]

 

Just because someone comes on and has a post count under 1000, they are a troll? Give him a break.

 What he's saying is that the fed has been audited. Clearly, their accounts (or anything important) have not been audited, they have very powerful people protecting them, we all know this. I'm sure they go through the motions. We can all agree on this. All he is saying, from where I am sitting, is that we are claiming they have never been audited when they have (in one way or another), and that our opponents can use that against us. We are all for the same cause, that they SHOULD be audited! Why this hostility?
 
This is what gives our movement a bad name, attacking people who come here for actual dialogue and not to stir the shit. If there are trolls, (and I mean actual trolls, not this guy) ignore them. Don't give them the time of day. Why waste your time?

To the poster: Maybe it would be a good idea in the future to not come on to a forum known to deal with lots of dumbass trolls and post a thread with the wording you did. It did come across pretty trolly.

[37]

Keep spreading myths and see how far it gets you. Keep saying the Fed has never been audited and see if you don't get laughed at. Spreading mis-information and then shooting the messenger is both ignorant and irresponsible. Stay in denial like all the sheeple and don't do the research. Don't be opened minded and learn about what you've been told. See how far it gets you. They're laughing at us because they think we don't understand. Looks like they are right.

I'm spreading myths?  Where did you prove they have been audited by someone other than their own office?

Just because they say they have been audited isn't an audit.

You already admitted that no one has ever seen a list of their physical assets. 

Therefore they haven't been audited.

No one laughs at me when I talk about the Fed.  Of course, I don't go around advocating an audit of the Fed.  I believe it should be abolished.  Mostly because it is unconstitutional.  But, also because it has been improperly managed and failed all of it's prime directives as set forth in the legislation which created it.  It is a central bank, and like the two before, has failed.  We don't need a central bank.  Central Banks are scams.

I'm laughing at you for trying to prove a slogan that is essentially true is completely false.  You have already admitted that they have never faced a real audit.  Therefore demanding an audit of the fed is a completely legitimate and accurate slogan for a protest.  Only a twit would argue otherwise...and the only people laughing are the same dipshits who have been laughing at Ron Paul for ten years...FOX, CNBC, etc.
 

[phosphene]

The Federal Reserve gets a GAO audit every year. Except they get to leave out a few important things, because the Constitution says they can.

I would argue that enough corruption is exposed through the standard GAO audit to shut them down on Constitutional grounds already. And, ultimately, we don't need an "audit" to tell us that they are crooks.


http://cafr1.com/FRaudit.html
by Walter Burien - 06/21/09

...they have provided one each year for the last 96 years.

Here is for 2008 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2008AR.pdf

Here is for 2007 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2007CAFR.pdf

Here is for 2006 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2006CAFR.pdf

To get to the meat of the matter, scroll down 2/3rds the way through the report on each until you get to the statistical section. There you will see as to collective numbers. Most of the numbers are noted as being in "millions" so add six (6) zeros. After you look there then go back up in the report and it is very informative reading on the preceding pages.

I NOTE: What really caught my eye was in the 2008  report, page 418, under "Loans and other credit extensions" the increases starting in September through Oct, Nov, Dec, of 2008, WOW, stands out above all other aspects in the 2008 report, and broke all the standards from previous monthly activity in 07, 06 and before.  There you will see a 400% to 700% increase over the monthly standard previously shown. My must they have gotten some pretty big fish on the hook...

Wonder what the numbers look like in the beginning months of 2009? Somebody on the hook to the FR is going to be paying back some pretty hefty numbers for quite some time..

[Belial]

Wonder what the numbers look like in the beginning months of 2009? Somebody on the hook to the FR is going to be paying back some pretty hefty numbers for quite some time..

I'm guessing the taxpayers

[WordClock]

I would argue that enough corruption is exposed through the standard GAO audit to shut them down on Constitutional grounds already. And, ultimately, we don't need an "audit" to tell us that they are crooks.

I agree. I think that a total shut down of the Fed is in order because an audit will do very little to slow them down. They cannot be audited by the same company that audits all the other ones because they are the Fed and deal with sensitive information. So, if the Fed is simply abolished we can just skip the audit process and give power back to the States.

[Sane]

Yes I am a moron. I also happen to know about 5 people who work in the Fed buildings. 3 of them have shown me audit statements.

How many times does Alex need to tell you to independently verify everything he says before you actually start doing it? I know why Alex says the Fed has never been audited, my concern is that some of his listeners don't know why he says this. Chemicalrain made the correct point that it's shorthand for the long explanation. That's all fine and dandy to do as long as you know the long version AND the short version. It's time to start doing our own research and not relying on Alex to do it all for us.

Now, please do me the honor of actually reading the article I posted the link for and then tell me why you disagree with it. Just a suggestion.

Down with the FED!

You know three people who work in the fed building and have shown you audit statements?!?!?!?!?!??!?!!

TAKE PICTURES OF THEM AND POST THEM ASAP!!!!

WHAT THE HECK MAN?

DUDE, DO YOU EVEN CARE WTF IS GOING ON?

ARE THESE SECRET AUDITS?

WHY WERE YOU ALLOWED TO SEE THEM?

HOW MANY BILLIONS WENT TO GOLDMAN SACHS?

[37]

The Federal Reserve gets a GAO audit every year. Except they get to leave out a few important things, because the Constitution says they can.

The Constitution says nothing about a central bank.  So, you are going to have to show me where the Constitution says that the Fed can hide information from their shareholders...the American Public.

The Federal Reserve gets a review.  They do not get the same audit everyone else does.  Period.

And, in a free market, there is no explanation for a government secretly providing funds to private institutions.  There is no reason the Federal Reserve can't disclose completely what they do and to whom they lend money.

And, if the Fed were actually audited by the GAO, there would be no reason for Bernanke to refuse to tell where they put OUR money.

[37]

I agree. I think that a total shut down of the Fed is in order because an audit will do very little to slow them down. They cannot be audited by the same company that audits all the other ones because they are the Fed and deal with sensitive information. So, if the Fed is simply abolished we can just skip the audit process and give power back to the States.

They cannot be audited by the same company that audits all the other ones because they are the Fed and deal with sensitive information.

Provide an example of "sensitive info".

So, if the Fed is simply abolished we can just skip the audit process and give power back to the States.

You mean Congress.

"The Federal Reserve was created by Congress in 1913, and it was entrusted with the power originally given to the Congress by the U.S. Constitution to 'coin money and regulate the value thereof'."

-Ben Bernanke, in a press conference. 

[Sane]

Provide an example of "sensitive info".

the truth of the fed that they steal all money from 99.9% of American citizens and give the money to european banks.

You mean Congress.

"The Federal Reserve was created by Congress in 1913, and it was entrusted with the power originally given to the Congress by the U.S. Constitution to 'coin money and regulate the value thereof'."

-Ben Bernanke, in a press conference.  

what a total asshole.

anyway, the fed wants us to skip an audit because an audit will show that the fed is responsible for all of the illegal wars and tghe false flag terror acts including OK City and WTC 93. They are also responsible for all wars after WWI

[WordClock]

You know three people who work in the fed building and have shown you audit statements?!?!?!?!?!??!?!!

Yes, but this is nothing special because you can find these statements online with a google search. They are not secret audits either. It's not like I have privileged information or anything, I just wanted to point out that the audits do exist.

[Sane]

Yes, but this is nothing special because you can find these statements online with a google search. They are not secret audits either. It's not like I have privileged information or anything, I just wanted to point out that the audits do exist.

the audits exist?

really?

have you ever been audited by the IRS?

is it the same level of detail?

please show us these audits, thanks.

i cannot wait to see the bullshit.

[Sane]

I would also like to thank the moderator of this forum for altering the title of my thread. Very honest and noble of you, I'm soooo glad I am able to pay your salary with my prison planet subscription only to have you alter my titles. Wow, it's so great to be part of such an opened minded community. Can you feel the love? I'll be sure and spread the good word. Wink, Wink.


Censorship is for the overly sensitive.

you are so welcome, Mr. holier than thou who is devoid of all sensitivity

[Orgetorix]

Yes, but this is nothing special because you can find these statements online with a google search. They are not secret audits either. It's not like I have privileged information or anything, I just wanted to point out that the audits do exist.

Ask your "friends" for a comprehensive statements of the transactions between the Federal Reserve and all Foreign Banks. Ask them for statements of dividends for each individual private shareholder. You'll not like the answer, because they don't know, and if they did they wouldn't tell you.

Your whole premise here is a strawman argument. The so called audits that are publicly available are very limited and don't tell you anything of real worth. The Federal Reserve has never been fully audited. Just because they release a limited CAFR every year doesn't mean they've been audited.

[Orgetorix]

the audits exist?

really?

have you ever been audited by the IRS?

is it the same level of detail?

please show us these audits, thanks.

i cannot wait to see the bullshit.

He means the annual Fed CAFR.

Phosphene posted them,

Here is for 2008 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2008AR.pdf

Here is for 2007 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2007CAFR.pdf

Here is for 2006 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2006CAFR.pdf

They don't tell you shit, just total values of property, and a very basic accounting of FRN's in circulation and how much in bonds as collateral. Really worthless for trying to find out where all the proceeds from those bonds really go.

[Sane]

He means the annual Fed CAFR.

Phosphene posted them,

Here is for 2008 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2008AR.pdf

Here is for 2007 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2007CAFR.pdf

Here is for 2006 - http://cafr1.com/STATES/FEDERAL-RESERVE/FR2006CAFR.pdf

They don't tell you shit, just total values of property, and a very basic accounting of FRN's in circulation and how much in bonds as collateral. Really worthless for trying to find out where all the proceeds from those bonds really go.

that is not an actual audit, it is a nebulous statement to hide an actual audit.

if we were to give that to the IRS and nothing else during an audit, our asses would be in jail!

[Orgetorix]

that is not an actual audit, it is a nebulous statement to hide an actual audit.

if we were to give that to the IRS and nothing else during an audit, our asses would be in jail!

I know, WordClock is just playing a semantical game, beating up poor old Strawman, for whatever his reasons.

The CAFR's are exactly as you described them. Nothing more than fake 1040's. I've already seen those bogus financial statements. I want to see an audit of the Fed's books, and not just the cooked set, but an audit of the real ones. 

[WordClock]

I am not being semantical. I honestly believed at one time that the Fed had never been audited literally. Then I learned it isn't the case. It's important to be detailed and precise when waking people up or else they may be put off. Just my opinion.

the audits exist?

really?

have you ever been audited by the IRS?

is it the same level of detail?

please show us these audits, thanks.

i cannot wait to see the bullshit.

The audits do exist though they are only audits by sheer definition and not real transparent accounting.

No, they are not audited by the IRS that I know of. I could be wrong.

The audits are posted online, google them. My friends who work at the Fed don't believe in this conspiracy stuff (which is why they still work there despite my rants) and are not willing to risk their jobs to steal documents and hand them over to me to post publicly online. Like I said, I'm not privy to any inside information, this is all stuff that can be verified online or in person.

Seeing the Fed audits won't please you, there is nothing in them. They are not transparent or clear about anything of any significance.