Auditing the Fed will Audit the State-Mises Daily
Auditing the Fed will Audit the State
Mises Daily by George F. Smith | Posted on 7/1/2009 12:00:00 AM
[An MP3 audio version of this article, read by Floy Lilley, is available as a free download.]
If Ron Paul succeeds in getting the Fed audited, the consequences could be far-reaching. Assuming the audit isn't rigged to protect the guilty, as a similar bill was in 1978, the Fed will need every obfuscating Keynesian to testify and write editorials on its behalf, to reassure the public that monetary matters really are best left to the gods who rule us, such as Ben Bernanke and Timothy Geithner. Monetarists, too, would likely join the "Save the Fed" crusade, perhaps arguing that even a great free market economist like Milton Friedman considered the Fed useful for preventing and curing recessions.
But the really appetizing part of auditing the Fed is knowing what stands behind it. The Fed is a racket at heart, a con game writ large — what else can you call an organization with the exclusive privilege of printing money in the trillio
Exactly......Auditing the Fed Audits the State.
Hence the mandatory need of Auditing The Fed, to show everyone what the Federal Government / Federal Reserve really does.......