The Federal Reserve’s Secret Lending of Public Money is Under Attack

Massive amounts of taxpayer $$$ are flying out the door like monkeys from Oz. Americans simply want to know: Who got our money?

Rather than answer our question, personal enrichment schemes by public officials and bankers dominate the news. Until now Washington has continued the same rhetoric: Let the markets judge while the priests of high finance decide in secrecy.

However, Congressmen Ron Paul and Alan Grayson are leading a popular charge to pass a bill which will mandate a third-party audit of the Federal Reserve. The House is set to vote on H.R. 1207 in the near future — so start paying attention.

Call me crazy, but is it unreasonable to ask, “Why can’t (or won’t) the Federal Reserve account for secret loans equivalent to more than $1 Trillion?”  We’re asking for only transparency, not lawmakers dictating interest rates. Isn’t transparent economic activity the hallmark of a democratic society? Let’s hear the experts’ opinions:[column width=”47%” padding=”6%”]

Tim Geithner 270

Timothy Geithner doesn’t think the Fed should be transparent:

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Alan Grayson DR

Congressman Alan Grayson thinks the Fed must be transparent:

(This video is published with the express permission of HDNet and Dan Rather’s Report. All reproduction is prohibited.)

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Want to learn more about the Fed? Try these posts:

Bernanke Claims He Will Be First to Tighten in Heat of the Moment

House Hearing on Federal Reserve Transparency Act

Has the Federal Reserve Failed?