What will hapen if congress audits the Fed?

[jollygreenfello]

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?

[megapronk]

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

[Fxmall]

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

[Master Tang]

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

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?

[Master Tang]

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

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.

[Nikitafx]

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?

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.

[jollygreenfello]

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.

[JustinCredible]

The audit would be a good thing for the american citizen

[Master Tang]

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.

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.

[d-pip]

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?