The Federal Reserve has been pulling out all stops in its fight to stop Ron Paul's 'Audit the Fed' Bill. The Fed brought former Federal Reserve chairmen Alan Greenspan and Paul Volcker into the fight. They wrote the House Financial Services Committee early this month in opposition to a provision, backed by Ron Paul, and passed yesterday by the Committee, that would expand the congressional Government Accountability Office’s audits of the Fed.
The Greenspan-Volcker letter is here.
(ViaWSJ)
That's about the stupidest thing I've ever read. It's nothing but a giant "you can't handle the truth" smoke cloud. How do you have a national monetary policy (whatever the hell that means) that is independent of all substantive oversight from the nation?
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