[mattduke]

It's popular, in these halcyon days of transparency, to be interested in where the Fed's trillions go. Hoping to head off Ron Paul's audit the Fed bill, the Fed tosses a milkbone.

http://www.washingtonpost.com/wp-dyn/co ... 01532.html

[pablonite]

It also made $4.6 billion on the buying and selling of government debt that it undertakes to manage the money supply.

"It undertakes" makes it sound so ... onerous, perhaps even maybe like doing everyone a favour?

Not a bad rake for the first 3 quarters but, and someone correct me if I am wrong here, isn't that all small potatoes when you factor in the interest on the most obscene amount of debt ever owed in the history of the world?

[mattduke]

Kohn is next in line to lash out at Ron Paul's popular audit the Fed bill. The Fed is getting cagey about the sudden interest in their activities. According to Kohn, if anyone knew what they actually do at the Fed, the dollar would crash. What do they have to hide?

reuters

[efarmer]

Being a patient man, I instead will wait for nature to blow the skirt up,
confident that in addition to ankle, calf, and thigh, they will show us their
A$$ too.

[Grautr]

Oh Mr Darcy, you can see my ankles!

[centralstump]

Kohn is next in line to lash out at Ron Paul's popular audit the Fed bill. The Fed is getting cagey about the sudden interest in their activities. According to Kohn, if anyone knew what they actually do at the Fed, the dollar would crash. What do they have to hide?

reuters

Ya, that one is good, but the other argument he makes caused me a spit-take.

"History provides numerous examples of non-independent central banks being forced to finance large government budget deficits."

Whew! We dodged a bullet there.