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?