But you are requiring that actual work be done.

The Fed has plenty to hide. I predict that if the audit takes place (doubtful) Americans will be stupefied at what is found. That is, the Americans who even know what the Federal Reserve is.

The really pathetic thing is that any agency associated with the Federal government can't be audited because of how poorly the books are kept. The Pentagon has been attempting to perform an audit for over 10 years, and failing. What's needed is a switch to zero-base budgeting, requiring all agencies associated with the Federal economy (that would include the Fed, Fannie Mae, and Freddie Mac), to include all cabinet agencies, to justify every dime of each year's budget. One of the most damaging things that has led to our soaring deficits is so called baseline budgeting, that involves simply taking the previous year's budget and increasing it by an arbitrary percentage (currently 8%, as I recall). Tom Coburn's staff found enormous waste attributable to unneeded funds given to government agencies, often based on costs of long finished projects being carried over for years.

Many of the comments here reveal Rand needs to keep "ranting" about the Fed until a substantial number of population grasps how terrible it is. There must be a separation of state and economics, and the fed is a major bonding in cementing them together.

atired subject. we all know they are corrupt and have not been able to change anything about them. when they have totally shut the country down their billions will not have any more value that what the rest of us have.

Thanks for the post.

I agree, but when the mismanagement and corruption is shown the sheep will buy whatever story the politicians are selling.

Agreed.

Rand definitely didn't approve of the institution.

Lots of different figures out there based on prices of goods available now and in 1913.
For example, USD down 98.6% based on price of gold today vs $20.67 in 1913.
This 2012 article shows 96% loss in purchasing power:
http://www.zerohedge.com/news/41-years-a...

Protecting individual liberty - Its what true patriots do.
Yes, it's in his own individual interest, too .

No other single issue has the potential to correct as much of what has gone wrong in America as this one issue.

And additional loss of 30% in the USD. A pittance compared to the 99% the fed already stole.

He and many others were told by their retirement financial advisors to expect a whole lot higher interest rate than they are getting.

Coincedentally, $5Au's eldest son proposed to his girlfriend on the beach there one dawn last summer.

Might I suggest the book Creature of Jekyll Island?

Not particularly a fan of the Fed since they bailed out Wall Street, however, these endless rants by Ron Paul are tiresome. There are other issues.

So you support the Federal Reserve?

Ron Paul must eat, sleep, and poop hatred for the Fed. What gives? Did he lose a bunch of money betting on higher interest rates? Get a life.