Congress set up the Fed to be independent. If they no longer want it to be independent, all they need to do is pass another law. But Congressmen shouldn't whine that the Fed is doing what the Congress created them to do.
They'll no more allow themselves to be honestly audited
They are audited. Regularly.
Yes, they are "audited" by whom they wish, in areas they wish, and release the info that they chose to, but there are major areas like their relationships to foreign banks and currency issuance that are completely off-limits to that audit. HR 1207 would remove those restrictions and give Congress transparency in those areas that are now off-limits.
The way you continually defend the Fed Reserve on this issue, you'd think that you work for them -- do you?
gold ownership? gold trading?
Regularly isn't the question. Honestly is the question. And after all the shenanigans about cooking the books to boost the bonuses, I find it hard to think that the audits were honest.
Congress might have set it up to be independent, but that doesn't make it constitutional, which is where most Ron Paul positions come from.
“Congress set up the Fed to be independent.”
I wasn’t aware that Congress had the power to delegate the authority to coin money and issue credit to anyone else, let alone a private central bank such as the Fed.
“Toddsterpatriot”
LOL!