Editorial: Why it’s in the Public Interest for the Fed to be Audited
• American Banking NewsRon Paul has been fighting an uphill battle to enlist the aid of his fellow lawmakers to remove the secrecy and hidden actions of the Federal Reserve, which is moving far too autonomously for the public good; confirmed by the outrageous resistance to the audit by Federal Reserve Chairman Ben Bernanke. What’s great about the process is Americans are getting their first real look at the Federal Reserve and how its actions can impact their lives; they don’t like what they see, and they, at over a 75 percent rate, want to see the Federal Reserve audited and their actions revealed in order to unveil what it is they’re doing with the money under their care. And why not? So far the outrageous bailouts and guarantees are estimated on the conservative side to be at around $9 trillion. Yes, that’s with a “t.” That works out to be close to 60 percent of the entire U.S. economy. Nobody should have that type of power and influence without close scrutiny by the American people and their repres
