Friday, February 13, 2015

The Fed’s Attack Dog is At It Again

-Ron Paul
Richard Fisher, the Dallas Federal Reserve Bank president, is once again going after everyone who supports an audit of the Federal Reserve System. In particular he has been hitting at Sen. Rand Paul for having introduced Senate Bill 264, which calls for a full audit of the Fed. Fisher has no new arguments against the audit. He repeats the same old clichés that have come from the Federal Reserve for the past several decades. I certainly have heard them all several times recited by Federal Reserve Board chairmen as they testified before the House Financial Services Committee.

The argument that the Fed is already audited is purposely misleading. Yes there is a minor financial audit of day-to-day expenditures of the Fed, but there has never been a full audit of the policies and the privileges passed out to the special interests. That is what remains secret – especially all foreign transactions.