Thread: Call for Fed transparency grows louder

Call for Fed transparency grows louder

By Tom Braithwaite and Francesco Guerrera

Published: July 15 2009 05:01 | Last updated: July 15 2009 05:01

To conspiracy theorists, the Federal Reserve is a dangerous, shadowy and unaccountable organisation – like the Central Intelligence Agency but without the black helicopters.

For more than 200 years, central bank critics have railed about an alleged lack of transparency, a threat to the fabric of the US by unÂ*elected moneymen.

For more than 20 years, Ron Paul, the Texan Republican, has been trying to pass a bill that would audit the Fed’s monetary policy decisions. He says US citizens need to know more about the inner workings of the organisation. But he has had little support.

However, in the past 12 months the possibility of more oversight of the Fed has dramatically increased. No longer confined to conspiracy theorists – or the small libertarian wing of Mr Paul – it is now the view of mainstream politicians. A majority in the House of Representatives and many in the Senate have decided the Fed needs a tighter leash. “We do not want to politicise our central bank but perhaps they are politicising themselves,â€

GO RON PAUL!!!! AUDIT THE FED!!!