Comments on: Paul-Grayson’s Audit the Fed Measure Added to Bill http://chattahbox.com/us/2009/11/20/paul-graysons-audit-the-fed-measure-added-to-bill/ When There's News, Get Ready For Lots Of Chattah! Thu, 10 May 2012 19:07:36 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Justin http://chattahbox.com/us/2009/11/20/paul-graysons-audit-the-fed-measure-added-to-bill/comment-page-1/#comment-37550 Justin Tue, 08 Dec 2009 18:51:30 +0000 http://chattahbox.com/?p=10790#comment-37550 http://globaleconomicanalysis.blogspot.com/2009/09/fed-offers-2-cents-on-audit-fed-dollar.html In the above post, it says "The Fed's monetary-policy operations -- such as interest-rate decisions and loans to banks through its discount window -- are blocked by law from GAO review." How is this possible if Article I Section 8 of the constitution gives Congress the power to regulate the value of our money? In some way isn't the Fed the money- valuation arm of Congress & therefore shouldn't it be able to be audited by the GAO? When did the Fed begin to be considered as the almighty decider of monetary policy & monetary valuation? I look forward to the upcoming happenings with this amendment & am very pleased it has even gotten this far. http://globaleconomicanalysis.blogspot.com/2009/09/fed-offers-2-cents-on-audit-fed-dollar.html

In the above post, it says “The Fed’s monetary-policy operations — such as interest-rate decisions and loans to banks through its discount window — are blocked by law from GAO review.”

How is this possible if Article I Section 8 of the constitution gives Congress the power to regulate the value of our money? In some way isn’t the Fed the money- valuation arm of Congress & therefore shouldn’t it be able to be audited by the GAO? When did the Fed begin to be considered as the almighty decider of monetary policy & monetary valuation?

I look forward to the upcoming happenings with this amendment & am very pleased it has even gotten this far.

]]> By: Mark http://chattahbox.com/us/2009/11/20/paul-graysons-audit-the-fed-measure-added-to-bill/comment-page-1/#comment-36804 Mark Fri, 20 Nov 2009 15:58:45 +0000 http://chattahbox.com/?p=10790#comment-36804 I applaud Mr grayson and Dr paul for what they are doing its about time we see just how corrupt this system is and i have a hunch everyone is going to be FLABBERGASTED about there shady dealings I applaud Mr grayson and Dr paul for what they are doing its about time we see just how corrupt this system is and i have a hunch everyone is going to be FLABBERGASTED about there shady dealings

]]> By: Bob http://chattahbox.com/us/2009/11/20/paul-graysons-audit-the-fed-measure-added-to-bill/comment-page-1/#comment-36803 Bob Fri, 20 Nov 2009 15:39:50 +0000 http://chattahbox.com/?p=10790#comment-36803 "Fed Chairman Ben Bernanke ... strongly opposes Paul’s audit the Fed bill, claiming it would ... effectively put monetary policy in the hands of Congress." Interesting. I had to go back and double-check the Constitution, but it does say what I thought it does. Article I Section 8 gives Congress the power to "coin money and regulate the value thereof." So, what I hear Bernanke saying is that he opposed the Paul-Grayson bill because it will effectively allow Congress to do the job assigned to it in the Constitution. For whom does he work? “Fed Chairman Ben Bernanke … strongly opposes Paul’s audit the Fed bill, claiming it would … effectively put monetary policy in the hands of Congress.”

Interesting. I had to go back and double-check the Constitution, but it does say what I thought it does.

Article I Section 8 gives Congress the power to “coin money and regulate the value thereof.” So, what I hear Bernanke saying is that he opposed the Paul-Grayson bill because it will effectively allow Congress to do the job assigned to it in the Constitution. For whom does he work?

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