[Financial Safety Services commentary: Here is a good article by The Daily Bells Anthony Wile which says what I have personally being telling people for quite some time now [15 years?] - that auditing the Federal Reserve Banking system is a complete waste of time as nothing can come of it. Anyone who has been involved/acquainted with government accounting standards for banks and local or state governments, knows that the rules for auditing governments and banks, regarding what is/is not "safe" and "allowable", are a complete joke, and would never even be considered in the private sector by a responsible business, and that all of the government approved "auditors" are obligated by the system they serve to turn a blind eye to the reality: that what they are auditing is a completely bankrupt where expenditures must always exceed revenues in the long run no matter what. In other words : "the emperor wears no clothes" :-) ].
"An audit of the Federal Reserve would be nice but really it wouldn't change anything. In fact, it would likely prove a kind of sideshow from reality, which is that monopoly central banking should simply be abolished.And that probably won't happen until people get so sick and tired of being driven into bankruptcy and despair that they begin to kick the doors down and arrest the criminals cowering inside.
And they ARE real criminals. The system is responsible for debasing currency the world over and driving billions into poverty and even suicide. In the West it has blighted the hopes and dreams of millions who scratched and saved and then found their portfolios devalued by half or whole on a single day.
But it is worse in Third World countries. The money never even trickles down in these countries. Billions of people live on literally a couple of dollars a day.
This despite the United Nations and other international institutions that are supposedly dedicated to eradicating poverty. In fact, these institutions create the poverty they supposedly wish to remove. They do so via institutionalized violence costing trillions. War is the health of the state but it sickens everyone else.
It's not as if people don't already know the depths of the depravity that is the modern money system.
There's really no justification for the Fed, a monopoly central bank that issues fiat money as it chooses.
The exposure is irrelevant to the evident reality. The reality is that a small group of white, middle aged men can never figure out how much money an economy needs at what price.
The reason to audit the Fed is to find out what "they" are up to. But we already know that. A limited audit examined transactions during 2008 when the world's financial system froze up. It found the Fed had loaned out more than 16 trillion dollars, almost interest free, to the "too big to fail" banks.
This is not exactly astonishing. The same men who have built this dysfunctional system handed out trillions to various cronies when the system was in danger of collapsing.
So here is what a Fed audit would discover: More of the same. It would likely also discover that a shadowy group of dynastic families control the workings of the Fed, as they do of other central banks, and use money-from-nothing to further implement world government......." Complete article here