The Pentagon and the Fed could both use thorough audits. Actually, we need to audit them.
There is reality and then there is Washington DC “reality.” Below is a case in point.
The IRS keeps complaining that it doesn’t have a big enough budget. But it does have enough money laying around to hire outside lawyers to go after Microsoft at $1000 an hour.
This bill is probably a step in the right direction, but the focus should be first on auditing the Fed under a bright burning magnesium fueled light. We need to know what’s really going on in the institution before we can chart the best way forward. Open the beast up. Let’s see what happened in 2008/2009 and during the QE binge. Then we can tinker, or hack away, or blow up as needed.
It should be noted that Senator Warren,
For far too long conservatives have given the military the equivalent of a blank check. Through the Cold War and in the years since the budget has ballooned. It takes a huge piece of the federal pie and it is filled with waste and flat out fraud. The Pentagon wastes BILLIONS in taxpayer dollars.
Some of the “fraud” is entirely legal. Overpayments for this, a sweetheart contract for that. Perhaps a deal for a weapons system which makes no sense but is a government works program for some congressperson’s (often a Republican) district.
If you want to read the piece to which Senator Paul is responding it is HERE.
Basically the bankers are coming with all guns for the guy who might expose the central bank racket they’ve been running for a very very long time. If everyday people were to actually learn of the things the Federal Reserve has done, indeed why it exists (to backstop the big banks – with the wealth of the American people –
In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. – Dwight D. Eisenhower
Indeed, it’s long past time.
There is great hope that tech will bring local bureaucrats and crony capitalists if not to heal, at least more into the light in a big way, soon. We are at the beginning of a transformation. (Let’s hope.) As data becomes more and more available, and search engine tools become better and more intuitive, citizens are going to increasingly audit the books of their home towns.
Indeed. End the Fed.
Sounds so radical doesn’t it? Isn’t the Federal Reserve there to smooth out the economy, to stabilize the currency? To make sure the world doesn’t blow up?
What if I told you that it doesn’t smooth out the business cycle, but exacerbates it. That the dollar has lost 95% of its value since the establishment of the Federal Reserve. And that the world has “blown up” multiple times under the Fed regime?
As we’ve written before, the targeting of conservative groups by the IRS should concern anyone with a political opinion. All it takes is a change in leadership and suddenly one’s group might find itself on the wrong end of an audit.
Or it might just take one overzealous Senator with a control issue, as was the case with Diane Feinstein and the Marijuana Policy Project.
If we can’t end it tomorrow, at the very least it should be audited completely.
Sadly, it’s that time of year again. The big bill. A little help (maybe) from The Wall Street Journal.
Things are so out of whack that the Government Accountability Office can’t even do a “good enough for government work” audit of the government’s books.
Critics of crony capitalism are found on both the left and right. This creates a very interesting alliance. For example, left and right work together to audit the Fed. We can also audit each other’s ideas for factual accuracy.