===============
Continuation. Let's proceed to the Federal Reserves:

Since the Federal Reserves is a long-complicated process I will just give a brief background and summary before we demand what are necessary.

Why was the Federal Reserves created?
The purpose.
1. The Fed Reserves' purpose was to provide the nation with stable, flexible, monetary policy of the national financial system. Promotes effective operation of the US economy and specially the general public.

There are 12 Member Banks all over the country. The Federal government use the Reserve Bank called the Central Bank of the US government. This is located in Washinton DC.

Now who owns the Federal Reserves? The US government does not own the Federal Reserves.

How it was created, and why it is called Corporation.
When the Federal Reserve Banks were created in 1917, the government did not fund it. The initial creation was by offering shares of stocks to various banks. The member banks bought the shares of stocks and how it was initially funded. Member banks do not receive profits on the operation of the Reserve Banks, but they are provided annual dividend on the shares of stocks that they own.

How does the Federal Reserve earn to fund its operation?
The Federal Reserve is not funded by congressional appropriations. Its operations are financed primarily from the interest earned on the securities it owns—securities acquired in the course of the Federal Reserve's open market operations.

Who runs the Federal Reserve?
There are 7 Board of Governors appointed by the President and confirmed by the Senate. Duration of their official duties are 14 years.
Current Chairman of the Board is Powel. He reports directly to Congress.

The Federal Reserve Bank is called the Central Bank of the United States is located in Washington DC. This is the Bank where our financial and monetary system are kept and deposited.

Does the government receive funding from the Federal Reserves?
The Government receives earnings from the Federal Reserve System's lending to financial institutions, fees for permits and regulatory and judicial services, and from gifts and contributions. It is reported to Congress.

Functions of the Central Bank.
When the IRS collects money from us, the taxpayers, the US Treasury which oversee the IRS, deposits the money to the Central Bank located at Washington DC.

You've brought up a very important question.
There is a very important reason, why the Federal Reserve Banks need to be audited. This is where our money is kept in the Central Bank.

They made a mistake. One of the policies provided must be the proper accounting and auditing, how this money is monitored, and controlled.

Nothing has been done since it was created. A big mistake.

Was it done on purpose? I really am not sure.

I am very interested that Senator Rand Paul, and other Senate members demand that there must be audit on the Federal Reserve. This is a very important internal control system that is missing.

We the people must demand to our elected Representatives to create a policy that will accurately maintain our monetary system. Nothing has been done for hundreds of years. This policy must be implemented.

We could not eliminate the Federal Reserves. The Reserve Banks don't belong to the government. It belongs to all bank members who owns the shares when the Federal Reserves were first created. That is why it is called a corporation.

Radiance, you write from whom, Wikipedia? Let's look at your quotes:
b] "Why was the Federal Reserves created?[/b]
The purpose.
1. The Fed Reserves' purpose was to provide the nation with stable, flexible, monetary policy of the national financial system. Promotes effective operation of the US economy and specially the general public."

Oh, Gawd. Gimmie a break!

The Federal Reserve System was created by the Progressive Democrat President Woodrow Wilson in 1913 under false pretenses. It was created to destroy America. It funded the Bolshevik Revolution, the Rise of Hitler, bailed out the Bank of International Settlements, and by 1929, it had raided Fort Knox until every brick of gold was gone.

The Great Depression was not a public raid on private banks, but a Government raid on its own bank that was supposed to back our private banks' paper fiat promissory notes with gold.

I have been following this raid of Fort Knox since researching New York's City's (American-Russian Trading Organization (AMTORG) Company's 1925 payments in US gold, its Russian ships leaving NYC harbor overladen with so many bricks that they nearly sunk. Congress put an embargo on trade with Russia since the Bolshevik Revolution, but they found a way to circumvent that boycott by building a loop of trading posts from Moscow to Berlin (WESTORG) to London (ARCOS) to New York (AMTORG).

AMTORG's business was US bank robbery and industrial espionage. In 1935, Tesla sold his patents to AMTORG for $25,000, which went straight to BERLIN and the Nazis. Duh! This is all over the History Channel. We aint talking "top secret."

The Tesla Files: Tesla's Theories Have Been HIDDEN from the Public *2 Hour Marathon*
HISTORY
13.3M subscribers
https://www.youtube.com/watch?v=1WdeB4RAOSk&list=PLob1mZcVWOaj1CrauYu2kXALoEAwX6Kvv

Dr. John Trump on Nikola Tesla - Interview (Donald J. Trump's Uncle on Roswell's UFO and Tesla)
https://www.onepoliticalplaza.com/compose-post-screen?topicnum=314049&rpostnum=4899634&quote=true

Why don't you note your sources, Radiance, so we can challenge their veracity and origin?

Radiance, you write from whom, Wikipedia? Let's look at your quotes:
b] "Why was the Federal Reserves created?[/b]
The purpose.
1. The Fed Reserves' purpose was to provide the nation with stable, flexible, monetary policy of the national financial system. Promotes effective operation of the US economy and specially the general public."

Oh, Gawd. Gimmie a break!

The Federal Reserve System was created by the Progressive Democrat President Woodrow Wilson in 1913 under false pretenses. It was created to destroy America. It funded the Bolshevik Revolution, the Rise of Hitler, bailed out the Bank of International Settlements, and by 1929, it had raided Fort Knox until every brick of gold was gone.

The Great Depression was not a public raid on private banks, but a Government raid on its own bank that was supposed to back our private banks' paper fiat promissory notes with gold.

I have been following this raid of Fort Knox since researching New York's City's (American-Russian Trading Organization (AMTORG) Company's 1925 payments in US gold, its Russian ships leaving NYC harbor overladen with so many bricks that they nearly sunk. Congress put an embargo on trade with Russia since the Bolshevik Revolution, but they found a way to circumvent that boycott by building a loop of trading posts from Moscow to Berlin (WESTORG) to London (ARCOS) to New York (AMTORG).

AMTORG's business was US bank robbery and industrial espionage. In 1935, Tesla sold his patents to AMTORG for $25,000, which went straight to BERLIN and the Nazis. Duh! This is all over the History Channel. We aint talking "top secret."

The Tesla Files: Tesla's Theories Have Been HIDDEN from the Public *2 Hour Marathon*
HISTORY
13.3M subscribers
https://www.youtube.com/watch?v=1WdeB4RAOSk&list=PLob1mZcVWOaj1CrauYu2kXALoEAwX6Kvv

Dr. John Trump on Nikola Tesla - Interview (Donald J. Trump's Uncle on Roswell's UFO and Tesla)
https://www.onepoliticalplaza.com/compose-post-screen?topicnum=314049&rpostnum=4899634&quote=true

Why don't you note your sources, Radiance, so we can challenge their veracity and origin?

==============
All you've mentioned about are fraud! I am talking about the proper Standard of Accounting and Auditing applications to protect the assets of every business activity. And what you've mentioned did not have one.


Please consult various financial experts, Accountants and Auditors, Accounting professors who I hope will arrive at the same conclusions that I did. if, not, I want to know their decisions....

I doubt if Congress supports the elimination of the Federal Reserves. They want audit. That must be done annually. They know the essential purpose why it was created. Thank you!

=============
My sources are the proper accounting principles and procedures prescribed on the Accountancy Board.

Where I based upon my decisions are from the Accounting and Auditing textbooks, which I've applied over the years of my career. We consistently carried on for centuries the Financial Accountant and Auditing Standard applications as the guideline.

Financial Consultants, Managers, Accounting professors, Auditors, and Accountants have been using them over the years in all financial activities of every economy not only in the US, but worldwide. I could not change them.

And if you know CPA or an Auditor who does not agree with the Accounting Standards I stated, please let them talk to me.
I'd appreciate that. Thank you.

Radiance, you asked:

"Without the Federal Reserve banks who monitor banking system activities, how would you provide reliable information to better financial management? But as an Accountant, this process is essential to carry on our various economic and financial activities."

Not so. It is the Comptroller of the Currency who monitors our private banks, not the Federal Reserve System & its banks. You don't know this as an accountant? The Comptroller of the Currency and FDIC were established under FDR's 1933 Emergency Banking Act and made permanent in the 1935 Banking Act.

You write:
"Please consult various financial experts, Accountants and Auditors, Accounting professors who I hope will arrive at the same conclusions that I did. if, not, I want to know their decisions."

It would be easier to consult the Congressional Records: the 1933 Emergency Banking Act, aka The Glass-Steagall Act, and the 1935 Banking Act, and FDR's Executive Order #6102 to seize all private gold reserves. We don't need the "accountants, auditors, and professors," and the so-called "experts." Why?

Every state has at least one designated Government Depository Library with all the Congressional Records, plus patent records, copywrites, and chemical indexes, etc. OCLC Library of Congress indexes, as well as law libraries' Decennial Indexes and Index Medicus medical journals of the National Library of Medicine. It is a shame that that public today is unaware of these simple free resources available for us common folk that have no university degrees. America has the best and largest free library system in the world.

Note that Franklin D. Roosevelt's Executive Order #6102—Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government; April 5, 1933 could be duplicated by Biden today. FDR's seized gold was then "lent" to the Soviet Union under FDR's Export-Import Bank to facilitate international trade while our paper fiat was only backed by our word.

How benevolent we are?

Radiance, you asked:

"Without the Federal Reserve banks who monitor banking system activities, how would you provide reliable information to better financial management? But as an Accountant, this process is essential to carry on our various economic and financial activities."

Not so. It is the Comptroller of the Currency who monitors our private banks, not the Federal Reserve System & its banks. You don't know this as an accountant? The Comptroller of the Currency and FDIC were established under FDR's 1933 Emergency Banking Act and made permanent in the 1935 Banking Act.

You write:
"Please consult various financial experts, Accountants and Auditors, Accounting professors who I hope will arrive at the same conclusions that I did. if, not, I want to know their decisions."

It would be easier to consult the Congressional Records: the 1933 Emergency Banking Act, aka The Glass-Steagall Act, and the 1935 Banking Act, and FDR's Executive Order #6102 to seize all private gold reserves. We don't need the "accountants, auditors, and professors," and the so-called "experts." Why?

Every state has at least one designated Government Depository Library with all the Congressional Records, plus patent records, copywrites, and chemical indexes, etc. OCLC Library of Congress indexes, as well as law libraries' Decennial Indexes and Index Medicus medical journals of the National Library of Medicine. It is a shame that that public today is unaware of these simple free resources available for us common folk that have no university degrees. America has the best and largest free library system in the world.

Note that Franklin D. Roosevelt's Executive Order #6102—Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government; April 5, 1933 could be duplicated by Biden today. FDR's seized gold was then "lent" to the Soviet Union under FDR's Export-Import Bank to facilitate international trade while our paper fiat was only backed by our word.

How benevolent we are?

Radiance, you asked:

"Without the Federal Reserve banks who monitor banking system activities, how would you provide reliable information to better financial management? But as an Accountant, this process is essential to carry on our various economic and financial activities."

Not so. It is the Comptroller of the Currency who monitors our private banks, not the Federal Reserve System & its banks. You don't know this as an accountant? The Comptroller of the Currency and FDIC were established under FDR's 1933 Emergency Banking Act and made permanent in the 1935 Banking Act.

You write:
"Please consult various financial experts, Accountants and Auditors, Accounting professors who I hope will arrive at the same conclusions that I did. if, not, I want to know their decisions."

It would be easier to consult the Congressional Records: the 1933 Emergency Banking Act, aka The Glass-Steagall Act, and the 1935 Banking Act, and FDR's Executive Order #6102 to seize all private gold reserves. We don't need the "accountants, auditors, and professors," and the so-called "experts." Why?

Every state has at least one designated Government Depository Library with all the Congressional Records, plus patent records, copywrites, and chemical indexes, etc. OCLC Library of Congress indexes, as well as law libraries' Decennial Indexes and Index Medicus medical journals of the National Library of Medicine. It is a shame that that public today is unaware of these simple free resources available for us common folk that have no university degrees. America has the best and largest free library system in the world.

Note that Franklin D. Roosevelt's Executive Order #6102—Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government; April 5, 1933 could be duplicated by Biden today. FDR's seized gold was then "lent" to the Soviet Union under FDR's Export-Import Bank to facilitate international trade while our paper fiat was only backed by our word.

How benevolent we are?

Radiance, you asked:

"Without the Federal Reserve banks who monitor banking system activities, how would you provide reliable information to better financial management? But as an Accountant, this process is essential to carry on our various economic and financial activities."

Not so. It is the Comptroller of the Currency who monitors our private banks, not the Federal Reserve System & its banks. You don't know this as an accountant? The Comptroller of the Currency and FDIC were established under FDR's 1933 Emergency Banking Act and made permanent in the 1935 Banking Act.

You write:
"Please consult various financial experts, Accountants and Auditors, Accounting professors who I hope will arrive at the same conclusions that I did. if, not, I want to know their decisions."

It would be easier to consult the Congressional Records: the 1933 Emergency Banking Act, aka The Glass-Steagall Act, and the 1935 Banking Act, and FDR's Executive Order #6102 to seize all private gold reserves. We don't need the "accountants, auditors, and professors," and the so-called "experts." Why?

Every state has at least one designated Government Depository Library with all the Congressional Records, plus patent records, copywrites, and chemical indexes, etc. OCLC Library of Congress indexes, as well as law libraries' Decennial Indexes and Index Medicus medical journals of the National Library of Medicine. It is a shame that that public today is unaware of these simple free resources available for us common folk that have no university degrees. America has the best and largest free library system in the world.

Note that Franklin D. Roosevelt's Executive Order #6102—Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government; April 5, 1933 could be duplicated by Biden today. FDR's seized gold was then "lent" to the Soviet Union under FDR's Export-Import Bank to facilitate international trade while our paper fiat was only backed by our word.

How benevolent we are?

We do know about the additional $16 Trillion the Fed printed up out of thin air to bail the European Union government central banks out in 2009 after the international housing market collapse. (That's equivalent to our 2009 entire GDP which reduced the purchasing power of the dollar to 60Cents.)

The Federal Reserve System straddles the fence. When the people cry out for an audit, they say, "oh, no, we are a private bank." When they want to start currency wars and a race to the bottom, then they pretend it is the order of the Executive Branch.

01.11.2024
"Grassley & Paul Seek To Audit The Fed"
WASHINGTON – Sen. Chuck Grassley (R-Iowa) joined Sen. Rand Paul (R-Ky.) in reintroducing the Federal Reserve Transparency Act, legislation to hold the U.S. central bank accountable to the American people.
https://www.grassley.senate.gov/news/news-releases/grassley-and-paul-seek-to-audit-the-fed

“ 'The Fed’s actions significantly affect our economy and Americans’ spending flexibility. It only makes sense that Congress and the taxpayer have insight into the factors that influence inflation and interest rates, which directly impact Iowans’ pocketbooks. Our bill would provide a sensible window into Fed practices,' Grassley said.

“ 'No institution holds more power over the future of the American economy and the value of our savings than the Federal Reserve,' Paul said. 'It’s long past time for Congress to stop shirking its duty and hold the Federal Reserve accountable.'

"The Federal Reserve Transparency Act would require the nonpartisan, independent Government Accountability Office (GAO) to thoroughly audit the Federal Reserve System’s Board of Governors and reserve banks within one year of enactment and report back to Congress within 90 days thereafter. Specific areas that would be subject to GAO auditing follow:

"Transactions for or with a foreign central bank, foreign government or nonprivate international financing organization;
Deliberations, decisions or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits and open market operations;
Transactions made under the direction of the Federal Open Market Committee;
Discussions? or communications? among or between members of the? Federal Reserve? Board and officers and employees of the Federal Reserve System related to? the actions listed above.?
Grassley and Paul are joined by Sens. Todd Young (R-Ind.), Mike Lee (R-Utah), Ted Cruz (R-Texas), Mike Braun (R-Ind.), Jim Risch (R-Idaho), Roger Marshall (R-Kan.), John Barrasso (R-Wyo.) and Marsha Blackburn (R-Tenn.).

"Stakeholder supporters include FreedomWorks, National Taxpayers Union, Taxpayers Protection Alliance, Frontiers of Freedom Institute, the Ron Paul Institute, Brownstone Institute, Heritage Foundation, Campaign for Liberty and Americans for Limited Government.
Bill text is available HERE."

It's been 111 years and the Fed has yet to be fully audited. This is an unconstitutional Marxist government central bank designed to cheat people out of the fruits of their labor, their hard honest work, stuck on the government plantation trapped in the ghetto in a game of Darwin's survival of the fittest. The poor can never work their way out of poverty. The money we make today is systematically devalued tomorrow. And then the GD Democrats pitch socialism as the solution after turning us into beggars?

Audit the Fed, Abolish the Fed. Then shut down the United Nations and its Agenda 2030 to reduce the world population to a "sustainable 2 billion" by killing off 6 billion through endless wars. The easiest way to cure the world of disease and poverty will be to rid the world of socialism and communism. It has not worked in the past. It does not work now. It was never intended to work.

Shut down that counterfeiting bank. Turn off the Bubble Machine.

Radiance, you asked:

"Without the Federal Reserve banks who monitor banking system activities, how would you provide reliable information to better financial management? But as an Accountant, this process is essential to carry on our various economic and financial activities."

Not so. It is the Comptroller of the Currency who monitors our private banks, not the Federal Reserve System & its banks. You don't know this as an accountant? The Comptroller of the Currency and FDIC were established under FDR's 1933 Emergency Banking Act and made permanent in the 1935 Banking Act.

You write:
"Please consult various financial experts, Accountants and Auditors, Accounting professors who I hope will arrive at the same conclusions that I did. if, not, I want to know their decisions."

It would be easier to consult the Congressional Records: the 1933 Emergency Banking Act, aka The Glass-Steagall Act, and the 1935 Banking Act, and FDR's Executive Order #6102 to seize all private gold reserves. We don't need the "accountants, auditors, and professors," and the so-called "experts." Why?

Every state has at least one designated Government Depository Library with all the Congressional Records, plus patent records, copywrites, and chemical indexes, etc. OCLC Library of Congress indexes, as well as law libraries' Decennial Indexes and Index Medicus medical journals of the National Library of Medicine. It is a shame that that public today is unaware of these simple free resources available for us common folk that have no university degrees. America has the best and largest free library system in the world.

Note that Franklin D. Roosevelt's Executive Order #6102—Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government; April 5, 1933 could be duplicated by Biden today. FDR's seized gold was then "lent" to the Soviet Union under FDR's Export-Import Bank to facilitate international trade while our paper fiat was only backed by our word.

How benevolent we are?