So surely the "Federal" "Reserve" is thoroughly audited on a regular basis, RIGHT ?

Try NOT !!! Below you will see that the so called "FEDERAL" "RESERVE" not only is not audited often, in fact, since it got off the ground and rolling, it has NEVER even been audited ONCE ! Indeed, the "FED" determines how and to what what degree it can be "audited", which in fact is NOT an audit at all, unless completely audited, DUH !!!!

I will start off with some OBVIOUS FACTS to demonstrate this claim. Then I ask each of you reading this to share your thoughts. It seems so clear cut to me, why can't we convince others how outrageous this is. You will see the specific statutes with their blatant & intentional weaknesses.

-------------------

From 1913 to 1921 the BOG, then known as the Federal Reserve Board, was audited annually by the U.S. Treasury Department. In 1921 Congress created the Government Accounting Office (GAO) and, among its other duties, assigned it to audit the BOG [Board of Governors] until 1933.

Good move. Possibly the only time the Fed was EVER audited, but before they really got rolling that is.
In the Banking Act of 1933, Congress voted to specifically remove the BOG from the GAO's jurisdiction.
Wahuh !! What happened here ?!
From 1933 to 1952 audit teams from the twelve Federal Reserve banks performed the annual examination of the BOG's books.
So they "audited" themselves from 33 to 52. Ok... I see.
From 1952 to 1978, the BOG, under authorization from Congress, decided to employ nationally recognize[d] accounting firms to conduct the audits of itself to insure independent oversight.
Conduct audits of "itself" and who pays for these audits ?
This provided an external evaluation of the adequacy and effectiveness of the examination procedures. (1)
Righto ! I'm Sure... GAO is barred and we are supposed to trust a so called "independant" beholden private firm to audit another private firm of such magnitude.
In 1978 Congress passed the Federal Banking Agency Act (31 US Code '714 ). Among other things, this law placed the Federal Reserve System back under the auditing authority of the GAO. The Act significantly increased the access of the GAO to the Federal Reserve Banks, the BOG, and the FOMC. Since then, the GAO has conducted over 100 financial audits and performance audits of the three Fed bodies. (3)
So I get it, from 1933 to 1978 the FED is NOT inspected by the United States General Accounting Office, an office set up for ACCOUNTING !!!! And we are supposed to simply accept that as being acceptable ??? That was enough UNsupervised time to RUIN a nation, let alone Fight WWII and Vietnam and Korea and totally indebt our nation to foreign interests. With all that time to so alter the Government and GAO itself, that after 1978 GAO is no longer effective even with limited oversight. Oh I forgot, the Great Society Experiment of LBJ also snuck in while GAO was barred from auditing the Fed.

CONSPICUOUSLY ABSENT and EXEMPT from the GAO's authority is the AUTHORITY to address one of the concerns of GREATEST importance to people who do NOT trust the Federal Reserve and that is the Foreign ANGLE.

However, the GAO does not have complete access to all aspects of the Federal Reserve System. The Federal Banking Agency Audit Act of 1978 stipulates the following areas are to be excluded from GAO inspections:
FEDERAL BANKING AGENCY AUDIT ACT of 1978 ----------------------------------------

The following areas are to be EXCLUDED from GAO INSPECTION:

(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;

(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, open market operations;

(3) transactions made under the direction of the Federal Open Market Committee; or

(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items (1), (2), or (3). (3)

-----------------------------------------------------------
Notice how all foreign dealings are EXEMPT from GAO inspection, now isn't that special, perfect for the international banksters who run the show. What are we, a bunch of dolts, and what of our "leaders"?


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