-8 votes

Audit the Fed? So what. Big freakin' deal. whatever.

who cares if the fed is audited or not. their charter expires next year anyway which means other banks will be able to submit proposals to the Government to issue a currency for them.

Also, as is typical in business, the fed will be in a position where it would be a good acquisition for another bank, like when Citi acquired First National etc., and all their books are going to be opened at that point as part of the usual process of discovery in the mergers and acquisitions process.

Lastly, I'm not qualified to give financial advice, but personally I'm going to go short on the Fed and take conservative initial positions in 4 or 5 other banks that are in a good position to be the winners of the bidding process for providing the new currency for United States Inc.

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not true... the charter does

not true... the charter does not expire anymore. I wrote an article about this a while back that explains the charter expiration debate if you care to read the details:


- Grow Mushrooms at Home

Sure I'll read it thanks.

I actually forgot about this, but it ultimately doesn't change the premise of my post.

BTW I was just trying to play devil's advocate here, the Citibank reference isn't even accurate. My point is that people like Geithner and Bernanke know that their company is about to go bankrupt and be acquired by some other firm, and that they should work on their resumes for their next position somewhere else etc.

And I'm going for a downvote record so don't forget to click the arrow!

Tweeting occasionally as himself @cudnoski on the twitter.

my pleasure