Radiance3 wrote:
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Since President Wilson in 1917, our Financial Accounting Office had changes made to enhance reports and to provide protection. However, I can see several violations of the system.
We have the Office of the GAO, General Accounting or Auditing Office reporting to the Controller General. The Financial Statement they prepare is directly reported to Congress every year-end. Since Congress appropriates what must be expended, they base their decisions from the Financial Reports presented to them by GAO every year.
Something is missing and I think it is wrong. No one in Congress really questions how those figures on the Financial Reports were created. They just rely on the figures presented.
For Accounting and Auditing policies and procedures, there is a guideline that follows officially to ensure accuracy and validity how all the figures reported. All must follow the
GAAP and the GASB applications. (General Accounting Standard Board) and (Generally Accepted Accounting Principles. ) But the Controller's Office does not question this?
Auditing policies and procedures require Internal Control System.
These are policies and procedures to prevent fraud and to accurately record and track down all information supported by verifiable documents, at the year-end Financial Statements.
The Year-end Financial Statements are the reports submitted to Congress where Congress base upon their appropriation for every department, or to any project that needs to be funded.
I think they have lots of problems how these are handled. How they report revenue, and control expenditures. Why is it that Joe Biden could just print massive amount of money. These are not proper accounting application. These must not be allowed. Printing money without order from Congress is a violation.
If they set up Internal Control system, one of the previsions not allowed must be the printing of money to maintain expenditures without appropriation.
That is why we are running on a budget deficit way up high, and people are surprised as Democrats deny any wrongdoing.
The unauthorized printing of money so Joe Biden could buy votes, or redistribute funds for his reelection bid is in violation of proper accounting applications. It must stop unless orders comes from Congress. This must be part of Internal Control System/
Why nobody complains about this, because they don't understand that it is against proper accounting application.
I will discuss sometime about the Federal Reserves. How it functions and affect our monetary policies.
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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.