robert4rp08
Member
- Joined
- Nov 5, 2007
- Messages
- 1,613
Could someone please provide me with more specifics as to what the Federal Reserve avoids.
According to the Federal Reserve they submit themselves to the GAO for auditing.
In Dr. Paul's videos he says they audit everything except A. B. C. D. and E which is everything.
I would like to know what is A what is B what is C and what is D and E If he could be more specific.
http://www4.law.cornell.edu/uscode/uscode31/usc_sec_31_00000714----000-.html
(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Federal Reserve Board and Federal reserve banks may not include—
(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, and 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 clauses (1)–(3) of this subsection.