Audit the Fed. Again.
Pragmatic Capitalist does Audit the Fed and I'm really sorry I have to reiterate this same point for the bazillionth time.
To date, no one has convinced me otherwise. Please, if someone can explain the following:
1) what use would a Fed audit be if they write their own accounting rules?
2) who would perform this audit? The Big 87654? They audited LandAmerica and they imploded. They audit Regions Financial and they are trying to lend money to broke counties who got ripped off by JP Morgan. They audit SunTrust. They audit the Fed regional banks themselves LMFAO. I don't watch movies but I once saw the Sylvester Stallone porno with my roommate at the Clay Theatre at midnight and there was a scene that seemed much like this. *fapfapfap* I have totally seen this before.
3) what do audit the Fed proponents expect to find on their balance sheet? Dead bodies? DNA? Semen? WTF?
I'd totally be up to listen.
And that was my Going Concern Audit the Fed post. Thanks for paying attention, motherfuckers, that's an encouraging sign.