Rand Paul and Elizabeth Warren agree. So does everyone else Audit the Fed
The Sane Case for Auditing the Fed
The Federal Reserve, which was just caught playing footsie with Goldman Sachs, is as shadowy as it is powerful. So why can’t Congress bring itself to actually audit the damn thing?
If you want to get a sense of just how incredibly powerful the Federal Reserve really is, forget about interest rates, reserve requirements, or even the ways in which a random nose-pick or burp by Janet Yellin during lunch at a Jackson Hole delicatessen might send markets soaring or crashing.
Instead, think about this: In an age utterly bereft of bipartisanship, auditing the nation’s central bank is one of the few issues on which Rand Paul and Elizabeth Warren agree. So does everyone else. Polls consistently show anywhere between 70 percent and 80 percent of Americans supporting an audit that would not just open the Fed’s ledger books but peer into exactly how monetary policy gets set.
Just a couple of weeks ago, the House of Representatives passed The Federal Reserve Transparency Act by an overwhelming vote of 333-92; a majority of House Democrats voted for an audit while just one Republican voted against the bill.
Yet despite overwhelming public and congressional support for an audit, it’s just not going to happen.
more:
http://www.thedailybeast.com/articles/2014/10/02/the-sane-case-for-auditing-the-fed.html
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