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Source:
Ron Paul Is Right! We Should Audit the Fed
Jul 08, 2009 12:30pm EDT
Peter Gorenstein
http://finance.yahoo.com/tech-ticker/article/275761/Ron-Paul-Is-Right!-We-Should-Audit-the-Fed
Consumer Credit outstanding fell $14.8b in Sept seasonally adjusted, almost $5b more than expected and marks the 11th month in the past 12 of declines. At $2.456T outstanding, it is 4.9% below the record high in July '08. After a flat reading in Aug, (didn't fall b/c of the CARS program), non revolving debt outstanding fell by $4.9B. Revolving (mostly credit cards) balances outstanding fell by $9.9B. To fully put into perspective today's data, look at the current level of consumer credit (doesn't include mortgages, the biggest chunk of consumer credit) relative to GDP. As of Q3, it totaled 17.2%...
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July 9th, 2009 at 3:53 pm
Absolutely so why are the dirty democrats doing everything in their power to stop that from happening?
http://www.americasright.com/2009/07/demint-proposes-amendment-to-audit-fed.html
http://mises.org/story/3525
July 11th, 2009 at 1:15 am
The thing that is so upsetting is that every time this is brought up, the Fed fires back, “Our independence is vital!” Well, this is apples and oranges… or do they know something we don’t? Maybe a proper audit would reveal the corruption behind those doors that would destroy their independence?