quote:
So why would a privately owned company have to be transparent?

It's either a part of government and should be transparent, Mr. Alex Jones, or it's a private company who only answers to its shareholders, which none of us are.

You can't have it both ways, mo.

The FED wants to act like a government agency, it wants (and does) have great control over our reality.

If it wants to masquerade as a government agency and rule the economic world, then I'd expect them to be transparent.

As it is now they have it both ways. They're able to pretend to be an official arm of the government while remaining mostly closed to transparency.

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Posted by LSURussian

Member since Feb 2005

126977 posts

Posted on 3/4/14 at 5:20 pm to Sleeping Tiger

quote:
The FED wants to act like a government agency

I want to act like Al Pacino but that doesn't make me Al Pacino.

quote:
They're able to pretend to be an official arm of the government while remaining mostly closed to transparency.

-They release the minutes of every meeting they have to the public. Those minutes are put online for any of us to read.
-They are audited annually by the Government Accounting Office. The audit is publicly available.
-They are audited annually by one of the Big 4 accounting firms on a rotating basis. The audit is released to the public and is available online for anyone to read.
-The Chairman (now Chairwoman) of the Fed appears before both a senate and house committee quarterly to answer any questions the senators and congressmen want to ask.
-Six times a year the Chair of the Federal Reserve holds a press conference where she/he answers any questions the press throw at her/him.
-The Fed's balance sheet and income statement are updated monthly and is available online.
-The Fed's security holdings are updated weekly and available online.

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