Wednesday, August 1, 2012

Audit the Fed

As always, Ron Paul wants to audit the Fed. Here is an overview of his bill. This article sums up my views nicely. Ron Paul wants the Federal Reserve to disclose all of their loans to banks through the discount window. Given our recent discussion on adverse selection what would happen if the Fed had to publicly announce who was borrowing from the Fed and selling securities through the open market operations?

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