Audit the fed

It's retarded, the fed is doing just fine.
The only people that throw bullshit like this around are people too dumb to know what the fed does.

>> u do know fed just loans the money right? and that taarp wasnt fed's doing?

It (well, the US taxpayer) also acts as guarantor for the debt.

The great depression came AFTER the Fed was formed. Before then lots of banks failed. Its now effectively a cartel that means if failure does happen, then they all fail at once.

The Fed is just another weapon to centralise power to the government. If you control the money supply, you control the people. It is one of the main tools to move towards a bigger state and more socialism

Look at this page to get an idea where lots of this money goes:
money.cnn.com/news/storysupplement/economy/bailouttracker/index.html

It is trillions of dollars (I think a recent figure was $10 trillion) and lots of it went to foreign creditors.

The issue is that in the future, these creditors will need paid. Printing money will only go so far - taxes will, unfortunately, need to be raised

>The issue is that in the future, these creditors will need paid.
They are being paid. All the time. That's how a loan works.

>It (well, the US taxpayer) also acts as guarantor for the debt.
yes, mainly to prevent run on banks. It's hard to argue that that's a bad policy, since run on banks is a tragedy of commons-type problem.
>. Its now effectively a cartel that means if failure does happen, then they all fail at once.
thats not what a cartel is thought. Cartel is an organization of companies/countries to seek market power over a commodity/industry and control their own prices by adjusting production.
Too big to fail is a seprate issue which I think should be addressed more, and as far as i know commercial banks since 2008 have much more oversight as to their financial stability and liquidity.
> If you control the money supply, you control the people.
this aint 1800s anymore. Central banks dont collect government revenues in any significant way anymore like they did before. Fed has 2% inflation mandate, which it roughly hits almost every year, if you really wanted to control the people you would have unpredictable interest rare so it wouldn't just get absorbed into the nominal interest rate(fischer's equation)

Yes, but new debt has been accumulating at a vastly faster rate than the economy has been growing. A greater and greater percentage of government spending will go to service debt.

Its the same for most Western economies.

...

auditing the fed would be a decidedly bluepilled action

100% for regular, in-depth audits. Transparency into the actions of central banks is a must.

any other position is simply asinine

Banks can only gets loans from the Federal Reserve if they are member banks. They are subject to strict regulation to ensure the Fed is not just propping failed banks.

Purchasing bankrupt businesses is not necessarily a reasonable business strategy, especially with banks. Upon realizing that a bank is in the financial grave, most depositors will withdrawal funds furthering the issue. You would need to prove that this model is viable.

The U.S. taxpayer does not guarantee the debt, the U.S. government does. Just because taxpayer fund the government, it doesn't mean they are responsible for the debt. The bonds the U.S. sells are debentures, which means that upon default, the creditor gets nothing. It is kinda like an LLC. I may fund my LLC, yet creditors can not seize my assets, only those of the business.

The Fed does not print money, the treasury does. They maintain the physical currency supply at a relatively constant level, only replacing old bills. The changes in the money supply are due monetary policy, not printing.

The debt issue could be solved by simply closing the deficit and waiting 30 years or so. This is because the money spent on the debt by the federal government is for interest and bond redemption (payment of principle). Thus, closing the deficit makes the debt extinct in a period of time equal to the longest maturity.