Dern skippy it should be audited. I'd like to see it abolished and congress assume its constitutional responsibility regarding the coining and issuance of currency.
Because Congress has shown its great at making painful short term decisions that lead to long term prosperity, right?
You make a valid point, but I would still rather the body in charge of our currency and monetary policy be beholden to the people; which private bankers are not. One could argue that the responsibilities of the Federal Reserve are too complex to subject to the bipolar nature of the American electorate, but I would counter with the naturally self-serving nature of the forces currently controlling the Fed. In short, we have a big problem with no fail-safe solution; meaning it won't be changed in our lifetime, barring a major catalyst that makes reform inevitable.
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