Auditing The FED: Could It Become A Reality?
on: November 4, 2009, 4:07 am
Author: Nabers Group
Blogger, Entrepreneur, Investor and CEO of Nabers Group (www.Nabers.com)
Jeff Nabers recently caught up with financial researcher and writer
Thomas Woods, the author of Meltdown, and discussed in an interview
his thoughts about auditing the Federal Reserve.
WASHINGTON, DC, November 4, 2009 -- Although not many Americans
understand the inner workings of the Federal Reserve (FED) Thomas
Woods, the author of Meltdown points out, "3 out of 4 of
them want it to be audited--simply for the common sense reasoning
of 'why wouldn't we want it audited?'"
The FED controls the money supply for the entire nation. It also
manipulates interest rates through the buying and selling of bonds
and by directly setting the Federal Overnight Funds Rate, the
rate at which it charges private banks to borrow money from it
in order to meet reserve requirements and respond to consumer
But what does the FED really do with all of the money that it
is control of? It's certainly not any conspiracy theory to consider
that, for instance, the FED may be working in conjunction with
the CIA in order to manipulate the global political scene in the
interests of the United States. What if the FED is investing hundreds
of billions of dollars in major Wall Street banks in order to
manipulate their stock prices? Whether or not the FED is doing
anything "wrong", the American taxpayers have the right
to want it to be as transparent as other major financial institutions.
Yet, there is very little transparency about the Federal Reserve.
Nobody outside of the FED really knows what the FED is doing with
monetary policy at any given time. Some say that that Bill HR
1207, a.k.a. Ron Paul's Audit the FED Bill, is not sensible because
the FED is already audited. But...is it?
If the FED is already audited, why then the near total lack of
transparency? Why is every Federal Reserve officer, including
Chairman Ben Bernanke, ranting and raving that this bill, if passed
into law, would compromise America's financial security? Why is
Treasury Secretary Tim Geithner siding with them on this?
As Thomas Woods says, "People don't act this way unless they've
got something to hide. They just don't."
Can it be a good sign that those who are in total control of our
money supply are hiding whatever it is that they do? If the FED
were already being audited, why isn't Bernanke's protest against
HR 1207 simply that it would be redundant overkill? Why does President
Obama, who believes himself to be the President of Change, completely
side with Geithner in not wanting this bill to be passed? There
is nothing changed or different about this secrecy from above
in our government, whereby those who think they know what's best
for us haughtily try to save us from ourselves.
HR 1207 is seen as so important that every Republican in the House
of Representatives, as well as the majority of Democrats, wants
to sign it into law. When we have such bipartisan agreement under
this current, typically divisive liberal government, it can only
be a sign that something of extreme importance is being discussed.
Watch the Nabers Group interview with author Thomas Woods here
ABOUT JEFF NABERS:
Nabers is a nationally recognized educator, speaker, and consultant
specializing in the topic of personal finance and self-directed
wealth management. He is the founding member and chairman of IRA
Association of America, a non-profit trade association for financial
professionals. Jeff is also CEO of Nabers Group, an unconventional
financial planning firm. Jeff's writings are read by thousands
of people per week. Core topics include understanding money, inflation,
free market capitalism, Austrian economic theory, direct possession
of gold and silver, real estate investing, income-producing assets,
small business start-up funding, and Self-Directed IRA and Solo
401(k) investing. Through seminars and continuing education classes,
he has taught many of the nation's top attorneys, accountants,
financial planners, professional investors and real estate brokers.
5 Steps To Freedom is his debut book and contains an imminent
plan anyone can follow to increase individual freedom and make
our country great again.
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