Audit the Fed, Bailout, Bailout the World, Central Intelligence Agency, Federal Reserve, Federal Reserve System, Federal Reserve Transparency Act, Financial Crisis, Fiscal Cliff, Government Accountability Office, IMF, Ron Paul, TBTF, United States, World Bank
No government institution is more secretive than the Federal Reserve. Believe it or not, the Central Intelligence Agency (CIA) is more transparent than the central bank of the United States. This is a huge cause for concern as the Fed dramatically affects the lives of every single American.
The Fed has never been fully audited in its nearly 100-year history. The American people only got a small glimpse of what happens behind closed doors last July. A watered-down audit conducted by the Government Accountability Office (GAO) revealed $16 trillion in Fed bailouts to banks and corporations around the world at the height of the recent financial crisis.
To put that gigantic number in perspective, the gross domestic product (GDP) of the United States is roughly $15.09 trillion. This means that all of the Fed’s liabilities in a couple years time frame were worth more than the total annual economic activity within the United States.
These bailouts were so secret that even Congress had no idea.
From Libya to the World Bank, the American people deserve to know where their money is being sent. The Fed’s inflationary policies have been driving up the cost of everything from food to gas. Opening the books on this secretive organization will put a stop to their bailouts.
The House of Representatives will vote on the Audit the Fed bill this afternoon sometime around 1:00-2:00 p.m. Watch it live on C-Span, HERE.
This is Your Last Chance to Take Action: Tell Your Congressman to Vote YES on Audit the Fed Bill!
Read more HERE.