What will hapen if congress audits the Fed?

What will happen to the currency markets and currency trading if H.R. 459 Audit the Fed bill is passed? It would be the first time the Federal Reserve has been fully audited by the government in the Fed’s 100 year existence. They are voting on this legislation next tuesday.

In 2008 alone a PARTIAL audit revealed that the Fed allocated over $16 trillion to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis. That was in just one year. That is 23 times greater than the TARP bailouts that everybody was caterwauling about…

If that is what a partial audit revealed, what would a full audit reveal, and how would this affect currency trading?

I subscribe to ICT’s understanding that the Central Banks and major institutions move the markets, do you think this audit would hinder their ability to secretly manipulate the markets as much as they do?

Wow! That 16 trillion could pay off the U.S. National debt!

No, don’t think so but if that were the case, the audit would have taken place a lot earlier…

The US national debt is owed largely to the fed…

Funny how that works innit? Bankers use public money to fund private institutions. The fed creates money, then the US Treasury sells bonds to fund that funny money. The fed lends money to the private institutions at .25% interest, and those institutions buy bonds that the public pays them 2% or more for.

Quite a racket huh?

It was not in the law that they were to ever be audited. They’ve done pretty much whatever they please, with nobody to answer to.

Congress has to enact the law for the fed to be legally audited. Madoff ain’t got nuttin’ on the fed.

It might move the market one way or the other for about half a day at most, than it will all go back to business as usual.

Always have a SL that you can afford.

Technicals will move based on real world currency movement as the main mover. The rest might shake it, but never move it in the long run.

I guess what I’m really wondering is if ICT’s concepts will still work since they are based on the institutions manipulating the market.

I personally hope the Fed gets audited, I’m sure they are running the shredders on high gear right now and the board of directors is calling up their buddies in Congress to try and kill this.

I’m just wondering if A Fed audit would make it obsolete to base trading off of market manipulation.

The audit would be a good thing for the american citizen

Won’t matter much. If you take a look at the bigger picture, 4 of the top 5 market players (at least of last count) aren’t of US origin. Not to mention the BIS, and several other large eastern entities. It will still be game on.

And even if they DO vote to audit, they won’t show up on the doorsteps of the Fed Wednesday morning asking for ledgers. Whether by design, or demand, they’ll kick the can down the road long enough to sweep stuff under a heavy rug.

I don’t think an audit in it self would change anything. It wouldn’t change the Feds authority and mandate, right?

But the results of an audit might make congress rethink the role of the fed and then enact new legislation changing the fed’s authority, but wouldn’t that be like trying to put tooth paste back into the tube? :56:

I don’t see anything positive that may came out of this. I think that if it passes, investors ‎might ran off of the USD and we will see currencies such as CAD,AUD,NZD strengthening. ‎

It passed the house 327-98! Now time for the senate.

This as a good thing, because with more transparency people will finally see the fraudulent manipulation that is going on behind the scenes. Then hopefully we can throw out this unconstitutional money monopoly and have a real economy. Not the artificial bubble blower we have had for the last century.

Actually real economy as a term is not correct - for when you take it apart, you’ll find that all economies [every single damn country out there] have a bubble format and most of the transactions are anything but transparent…which kind of makes a mockery of all the intl financial institutions…
And as for fraudulent practices coming to light, not going to hold my breath on that one for when you think about it, there’s no real independent institution that can carry out the audit in question…everything is tied up to something else.

It’s stalled in Congress now. And they have no plans to push it any further.

Harry Reid Flip Flops on Ron Paul Audit the Fed Bill, Used to Support It

Harry Reid is a joke. (And BTW, he’s the senator for the state I live in).
What a circus politics has become.

Think about this as well.

The Federal Reserve is no more “federal” then Federal Express. It is a private FOR PROFIT company. Their product is the currency that they have the sole domestic license to print (and or manufacture as 1’s and 0’s ie…electronically).

Essentially this is a bill that would give the government (congress) the authority to audit a private company.

Don’t get me wrong, the single most detrimental thing to our currency is the FED, but the entrenched interests in this country would never let it get to a point where we would ever really know the truth.

I am NOT a conspiracy nut, but;

–President Andrew Jackson’s final words were “I killed the bank” (Referring to the second attempt at establishing a “FED” the Bank of the United States of America)

–Abraham Lincoln authorized the treasury to print US Dollars to finance the war after the then version of the “FED” would only loan him the money at 30% interest (essentially making it impossible for him to borrow or repay). They (the FED) did this as they had strong ties with the south’s wheat trade with England (made all the more profitable by slavery) and didn’t want to jeopardize their income stream. We all know what happened to Mr. Lincoln.

– President Kennedy authorized printing of US Dollars from the treasury (executive order 11110). Known as “Kennedy bills” they were distinct in their red numbers and stamps;

Of course we all know what happened to Mr. Kennedy. And of course the VERY FIRST order LBJ signed when he was sworn in was the immediate repeal of 11110.

Conspiracy or not, the powerful interests are too entrenched in society. Nothing short of full scale revolution WORLDWIDE or an alien invasion would stop this.

So just play along, live the best life you can and if the SHTF, then take your musket down from the wall, put your powder bag on your shoulder grab your flute and join the rebel alliance or something like that :31::42: