Fed Would Be Shut Down If It Were Audited, Expert Says 3 Responses By admin on June 12, 2009 The Federal Reserve’s balance sheet is so out of whack

Fed Would Be Shut Down If It Were Audited, Expert Says
3 Responses

By admin on June 12, 2009

The Federal Reserve’s balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant’s Interest Rate Observer, told CNBC.

With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.
http://www.ronpaul.com/2009-06-12/fed-would-be-shut-down-if-it-were-audited-expert-says/