The Phaserl


Don’t Be Fooled By The Fed’s Anti-Audit Propaganda

from Western Journalism:

In recent weeks, the Federal Reserve and its apologists in Congress and the media have launched numerous attacks on the Audit the Fed legislation. These attacks amount to nothing more than distortions about the effects and intent of the audit bill.

Fed apologists continue to claim that the Audit the Fed bill will somehow limit the Federal Reserve’s independence. Yet neither Federal Reserve Chair Janet Yellen nor any other opponent of the audit bill has ever been able to identify any provision of the bill giving Congress power to dictate monetary policy. The only way this argument makes sense is if the simple act of increasing transparency somehow infringes on the Fed’s independence.

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1 comment to Don’t Be Fooled By The Fed’s Anti-Audit Propaganda

  • Ed_B

    Increased transparency limits the things that the Fed can do under the table. That’s all. Because they know that public awareness of the fragility of the US financial system depends on them being able to do things that no one knows about. This would end that and the house of cards that has been so carefully built and maintained would come crashing down… as it should. This is a stupid way to run a financial system and anything that reduces stupid actions is all to the good.

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