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Back when Ron Paul was in Congress, you could always count on him to do one thing: introduce the same bill every year, heedless of futility or Sisyphean labor, to conduct a comprehensive audit of the United Stated Federal Reserve Bank.It never went anywhere. But undaunted, the elder Paul continued the tradition right up until his retirement, at which point he passed the mantle to his son, Sen. Rand Paul, R-Ky. (A, 92%).Rand continues to introduce the bill every year, with increasing probability of action, receiving a rare vote in the Senate in 2016. This year, the warriors of monetary policy may have their best shot yet at success, as a new version of the bill is being sponsored by Rand and Rep. Thomas Massie, R-Ky. (A, 94%) with vocal support from the incoming Trump administration.5 ways to reform the Federal ReserveThe Federal Reserve is a nominally independent agency that regulates the nation’s money supply, controls interest rates, and occasionally intervenes in markets more directly, as when it purchased toxic mortgages during the 2008 housing crisis. The Fed generally operates behind the scenes in comparative secrecy, with the general public having only a vague conception of what the agency actually does.What few people realize is that when the Fed alters the money supply and changes interest rates, it is sowing the seeds of future economic disaster by introducing distorted signals into money markets....- See more at: https://www.conservativereview.com/commentary/2017/01/trump-and-congress-want-to-audit-the-fed?utm_source=newsletter&utm_medium=email&utm_content=010616crcontentemail&utm_campaign=newslettertraffic#sthash.9TJIcrmG.dpuf
This is a grand idea, but after this many years of abuses from Mr Yellen and company can it be audited? I am betting the books are so cooked they are indecipherable oatmeal.
