Thanks baker!
May God eternally bless this patriot.
He will be known as a hero for many generations to come.
o7
>>4243710 pb
>The plan to have the FED raise rates [steep incline beginning Mar 2019] in an effort to 'kill' the economy prior to 2020 P_elec is known and planned for.
>Structure change coming?
>Q
OIG Audit Results That You Never Knew Occurred
OIG Semi-Annual Audit Results That You NEVER Knew Occurred.This article is a series compiled by Lisa Evans Rockwell into the OIG Audits into a large variety of departments. Each is broken down by individual audits and highlights of findings are provided. Each comprehensive audit is included in link at end of each section.
Between October 1, 2017–March 31, 2018 something very interesting was happening.
The IG was AUDITING THE TREASURY!
This was a SEMI ANNUAL audit. There’s another one going on right now.
In the first audit, the work by the Office of Investigations resulted in 33 arrests, 35 indictments, and 21 convictions. What else was in the Report the IG handed to Congress?
The United States MINT GOT AUDITED!
Financial Management: Audit of the United States Mint’s Schedules of Custodial Deep Storage Gold and Silver Reserves as of September 30, 2017 and 2016 (OIG-18-003, 10/24/2017
The GOLD RESERVES GOT AUDITED!
Financial Management: Audit of the Department of the Treasury’s Schedules of United States Gold Reserves Held by Federal Reserve Banks as of September 30, 2017 and 2016 (OIG-18-007, 10/31/2017)
That’s not all this Report tells us.
THE IG CAUGHT A LEAKER TOO.
“The complainant alleged that a senior staff member at a Treasury bureau may have released information regarding the existence of a DOJ and Treasury OIG investigation.”
Substantiated and Referred to DOJ for Prosecution
WHO instructed all these Audits to take place?
THIS GUY! Treasury Secretary Steven Mnuchin
All this was going on AND NO ONE KNEW ABOUT IT.
The Swamp IS being drained! First you have to discover the crime, then you deal the punishment.
It’s ALL getting cleaned up, one Department at a time.
Just like Candidate Trump said…’EVERY DEPARTMENT WILL BE AUDITED’.
Semiannual Report to Congress, October 1, 2017 – March 31, 2018, Office of Inspector General, Department of the Treasury
Highlights
During this semiannual reporting period, the Office of Audit issued 56 products. The office also identified $130,668 in monetary benefits. Work by the Office of Investigations resulted in 33 arrests, 35 indictments, and 21 convictions. Some of our more significant results for the period are described below:
Independent public accounting firms, working under contracts with and supervised by of our Office of Audit, issued unmodified opinions on the Department of the Treasury’s (Treasury) consolidated financial statements and the Gulf Coast Ecosystem Restoration Council’s financial statements for fiscal year 2017.
Treasury’s Office of Budget and Travel potentially violated the Antideficiency Act by disbursing more than the Departmental Office’s available fund balance with Treasury; incurring obligations and expenditures prior to the respective reimbursable agreements being signed; and using fiscal year 2016 funds for fiscal year 2015 costs related to reimbursable services provided to Departmental Office customers.
Two funds in Arkansas’ Seed and Angel Capital Network venture capital program, New Road Ventures, LLC and Virtual Incubation Company Investor Network, misused a total of $130,668 of State Small Business Credit Initiative funds on four investments because the investments were in violation of conflict of interest rules in place at the time they were made.
Our joint investigation with Internal Revenue Service Criminal Investigations, revealed a repeat offender involved in a sovereign citizen scheme who opened a bank account and attempted to deposit a fictitious $300 million “Indemnity Bond” purported to be a valid instrument issued by Treasury. The suspect was indicted for Fictitious Obligations.
Our investigation revealed the theft of $37 million in Treasury checks from the U.S. Postal Service. The checks were stolen by contract employees, hired by the post office. To date, the investigation has identified 24 subjects. Two arrest warrants and a search warrant have been executed.
Our investigation determined that a former Office of the Comptroller of the Currency Bank Examiner and two co-conspirators engaged in a scheme to defraud a movie financing company. The Vice President of a bank, a former Bank Examiner, used his position to assist two subjects with stealing $2.5 million from the company by depositing funds into escrow accounts. The three subjects were sentenced from 30 weekends to 30 months in prison, 12 to 36 months of probation, and to a total of more than $1.5 million in restitution, forfeiture, and fines.
https://web.archive.org/web/20181015001145/https://americandigitalnews.com/2018/08/31/oig-semiannual-audit-results/
[Audit of other departments in link.]
>>4243710 pb
>The plan to have the FED raise rates [steep incline beginning Mar 2019] in an effort to 'kill' the economy prior to 2020 P_elec is known and planned for.
>Structure change coming?
>Q
Why We Need to Restructure The Fed
Fed Up: An Insider’s Take on Why the Federal Reserve Is Bad for America by Danielle DiMartino Booth is a devastating account of what actually goes on in the Federal Reserve.
I’ve known Danielle for years, and we’ve had many talks in which we despaired of the impact the Federal Reserve is having on Main Street. To say she eviscerates that august institution in her new book is to be kind.
Ten years ago, Danielle left a trading gig on Wall Street to work directly for Dallas Federal Reserve President Richard Fisher. She helped him gain insights into the economy and aided in crafting his speeches and writings.
When Fisher resigned and Danielle left the Fed, she started her own website and newsletter. She is the third most followed person on LinkedIn (LNKD), after less than a year.
I persuaded Danielle to let me take you right to the end of her book. There, she gives a summary of how the Fed should be reorganized. This is a powerful to-do list that I hope every Congressman and Senator will read. It is crucially important that they reorganize this institution that is playing havoc with Main Street.
We should remove the Fed’s dual mandate, reinforce its oversight functions, and so forth, while understanding that there is a role for an independent central bank—just not the role subscribed to by the academics that currently run the Fed.
After you read Fed Up, I think you too will be ready to join the movement to demand the restructuring of our central bank.
Culture Shock
>“If it were possible to take interest rates into negative territory, I would be voting for that.”
– Janet Yellen, February 2010
As her fame has grown, Janet Yellen is recognized in restaurants and airports around the world. But her world has narrowed. Because the Fed chairman can so easily move markets with a few casual words, Yellen can’t get together regularly and shoot the breeze with businesspeople or analysts who follow the Fed for a living. She must rely on her instincts, her Keynesian training, and the MIT Mafia.
“You can’t think about what is happening in the economy constructively, from a policy standpoint, unless you have some theoretical paradigm in mind,” Yellen had told Lemann of the New Yorker in 2014.
One of Lemann’s final observations: “The Fed, not the Treasury or the White House or Congress, is now the primary economic policymaker in the United States, and therefore the world.”
But what if Yellen’s theoretical paradigm is dead wrong?
The woman who “did not see and did not appreciate what the risks were with securitization, the credit rating agencies, the shadow banking system, the SIVs … until it happened” has led us straight into an abyss.
It’s time to climb out. The Federal Reserve’s leadership must come to grips with its role in creating the extraordinary circumstances in which it now finds itself. It must embrace reforms to regain its credibility.
Even Fedwire finally admitted in August 2016 that the Federal Reserve had lost its mojo, with a story headlined “Years of Fed Missteps Fueled Disillusion with the Economy and Washington.” In an effort to explain rising extremism in American politics in a series called “The Great Unraveling,” Jon Hilsenrath described a Fed confronting “hardened public skepticism and growing self-doubt.”
Mistakes by the Fed included missing the housing bubble and financial crisis, being “blinded” to the slowdown in the growth of worker productivity, and failing to anticipate how inflation behaved in regard to the job market. The Fed’s economic projections of GDP and how fast the economy would grow were wrong time and again.
People are starting to wake up. A Gallup poll showed that Americans’ confidence that the Fed was doing a “good” or “excellent” job had fallen from 53% in September 2003 to 38% in November 2014. Another poll in April 2016 showed that only 38% of Americans had a great deal or fair amount of confidence in Yellen, while 35% had little or none – a huge shift from the early 2000s when 70% and higher expressed confidence (however misguided) in Greenspan.
In early 2016, Yellen told an audience in New York that it was too bad the government had leaned so heavily on the Fed while “tax and spending policies were stymied by disagreements between Congress and the White House.” Maybe if she hadn’t been throwing money at them, lawmakers might have gotten their house in order.
“The Federal Reserve is a giant weapon that has no ammunition left,” Fisher told CNBC on January 6, 2016.
1/3
The Fed Must Retool and Rearm.
First things first. Congress should release the Fed from the bondage of its dual mandate.
A singular focus on maintaining price stability will place the duty of maximizing employment back into the hands of politicians, making them responsible for shaping fiscal policy that ensures American businesses enjoy a traditionally competitive landscape in which to build and grow business.
The added bonus: shedding the dual mandate will discourage future forays into unconventional monetary policy.
Next, the Fed needs to get out of the business of trying to compel people to spend by manipulating inflation expectations. Not only has it introduced a dangerous addiction to debt among all players in the economy, it has succeeded in virtually outlawing saving.
Most seniors pine for a return to the beginning of this century when they could get a five-year jumbo CD with a five percent APR, offset by inflation somewhere in the neighborhood of two percent. Traditionally, two to three percentage points above inflation is where that old relic, the fed funds rate, traded. The math worked.
Under ZIRP, only fools save for a rainy day. The floor on overnight rates must be permanently raised to at least two percent and Fed officials should pledge to never again breach that floor. Not only will it preserve the functionality of the banking system, it will remind people that saving is good, indeed a virtue. And that debt always has a price.
Limit the number of academic PhDs at the Fed, not just among the leadership but on the staffs of the Board and District Banks. Bring in more actual practitioners – businesspeople who have been on the receiving end of Fed policy, CEOs and CFOs, people who have been on the hot seat, who have witnessed the financialization of the country and believe that American companies should make things and provide services, not just move money around.
Governors should be given terms of five years, like District Bank presidents, with term limits to bring in new blood and fresh ideas.
Grant all the District Bank presidents, not just New York’s, a permanent vote on the FOMC. Why should Wall Street, not Main Street, dominate the Fed’s decision making?
While we’re at it, let’s redraw the Fed’s geographical map to better reflect America’s economic powerhouses.
California’s economy alone is the sixth biggest in the world. Add another Fed Bank to the Twelfth District to better represent how the Western states have flourished over the last hundred years.
Why does Missouri have two Fed banks? Minneapolis and Cleveland can be absorbed into the Chicago Fed. Do Richmond, Philadelphia, and Boston all need Fed District Banks? Consolidate in recognition of the fact that it isn’t 1913 anymore.
Slash the Fed’s bloated Research Department. It’s hard to argue that a thousand Fed economists are productive and providing value-added insight when their forecasting skills are no better than the flip of a coin and half of their studies cannot be replicated.
Send most of the PhD economists back to academia where they belong. Require the rest to focus on research that benefits the Fed, studying how its policies impact American taxpayers and citizens. (Did the Fed do any studies about how ZIRP and QE would impact banking and consumers before it imposed them? No.)
Now take all the money you’ve saved and aim it squarely at Wall Street investment banks intent on always staying one step ahead of the Fed’s regulatory reach. Hire brilliant people for the Fed’s Sup & Reg departments and pay them market rates. Rest assured this will be ground zero of the next crisis.
2/3
And mix it up. One of Rosenblum’s students applied for a job at the New York Fed. He came from a blue-collar background, spent seven years in the military, and earned his MBA from SMU on the GI Bill. Smart guy. But he couldn’t get to first base at the New York Fed. They hire people from Yale and Harvard and NYU – people just like themselves. Others need not apply.
Then the top Ivy Leaguers stay for two years and move on to bigger money at Citibank (C) or Goldman Sachs (GS). It’s a tribe that’s been bred over ninety years, and slow to change.
But if the culture of extreme deference at the New York Fed (which also exists in District Banks to a lesser degree) is not quashed, regulatory capture will continue with disastrous results. The Fed must give bank examiners the resources they need to understand the ever-evolving financial innovations created by Wall Street and back them up when they challenge high-paid bankers who live to skirt the rules.
Regulators must focus on the big picture as well as nodes of risk. Interconnectedness took down the economy in 2008, not just the shenanigans of a few rogue banks.
Focus on systemic risk and regulation around the FOMC table. Create a post with equal power and authority to that of the chair to focus on supervision and regulation. Yellen talks about monetary policy ad nauseam, but when challenged by the press or Congress on regulatory policy she stumbles and mumbles and does her best doe-in-the-headlights impersonation. Markets need predictability and transparency when it comes to Fed policy, not guesswork, parsing of the chair’s words, and manipulation of FOMC minutes.
Finally, let nature take its course. Reengage creative destruction. Markets by their nature are supposed to be volatile. Zero interest rates prevent the natural failures of weak companies, weighing down the economy with overcapacity for generations.
Recessions might have been more frequent, the financial losses greater for some, but if the Fed had let the economy heal on its own, America would have been stronger in the end and the bedrock of our nation, capitalism, would not have been corrupted.
I could never have imagined how my near decade-long journey at the Federal Reserve would play out.
In the beginning, I had been a “risk radar” to benefit myself and those closest to me. I wanted to stay out of debt and make certain that my children had great educations and a foundation of financial savvy so that they could pursue their versions of the American dream.
But I realize now the stakes are much higher.
We’ve become a nation of haves and have-nots thanks to Fed policies that benefit the wealthiest investors, punish the savers and the retired, and put the nation’s balance sheet at risk.
As consumers on the receiving end of Fed policies, we must reform our education system so that the American dream can be accessible to everyone. We must campaign for Congress to stop hiding behind the Fed’s skirts.
And we must demand that the Fed stop offering excuse after excuse for its failures. Short-term interest rates must return to some semblance of normality and the Fed’s outrageously swollen balance sheet must shrink in size. And most of all, the Fed must never follow Europe by taking interest rates into negative territory.
No more excuses. The Fed’s mandate isn’t to have a perfect world. That only exists in fairy tales, dreams, and the Fed’s econometric models.
https://www.equities.com/news/why-we-need-to-restructure-the-fed
3/3
My guess is new mission and new (less) power.
Plus, full controlled by treasury dept, not anymore by shareholding banks (cabal elite).
The world is connected and such things need to be transitioned smoothly, imo.
The oig report was in notables months ago. Should really be noted again as much related to Q drop.
The fed restructuring is in notables with a different post and different (way shorter) story. Please take this in notables too.
Won't hurt much to have more eyes on…
I am not an expert in this field.
But my guess would be POTUS could give treasury full power over fed and by this somehow keep the money for US….rather than just ending the fed.
We'll see.
Be sure POTUS as Mensa Level IQ person and Mr Deal himself will find a great solution.
Would appreciate that much. Base (EO) is there imo. But don't know how quick that could be transitioned.
https://en.m.wikipedia.org/wiki/Executive_Order_11110
Executive Order 11110 was issued by U.S. President John F. Kennedy on June 4, 1963.
This executive order amended Executive Order 10289 (dated September 17, 1951)[1] by delegating to the Secretary of the Treasury the president's authority to issue silver certificates under the Thomas Amendment of the Agricultural Adjustment Act, as amended by the Gold Reserve Act. The order allowed the Secretary to issue silver certificates, if any were needed, during the transition period under President Kennedy's plan to eliminate Silver Certificates and use Federal Reserve Notes.
Indeed.
Are you BO or BV?
Why not namefag as BO/BV???
Last night i posted these two posts about fed.
Were ignored by shilly baker, even though they got many keks and are obviously related to latest Q.
Why do you care so much to not have them notable and get eyes on?
Why you attack me again for this?
Maybe bc I am the one posting against division when muh jew shills attack?
You don't like that and like the glowing muh jew shills better?
I really can't see you helping Q and Q movement/anons.
True, some bakers surpress notables and push for shilly stuff, sometimes teamed up or backed up by obvious shills, that makes me call them out.
When a baker does a fine job i say 'thanks' and i dig.
When there are no muh jew shills i won't do my copy pasta.
When they attack, i will.
What is wrong with that?
Why should the two posts not be notable?
They are related to latest Q, got many keks and are legit digs with good sauce.
Why not make them notable?
Is there any reason besides not having many eyes on?
Last baker yesterday evening fought hard to not make them notable, many shills backed him up.
Now you do the same.
Why?
We are anon here, bc it is the opinion that counts, not the name.
The fact i also speek up against division shills does not make my digs or posts bad.
I did, posted twice on restructuring fed.
For some reason, bakers and bo/bv does not want that discussed by too many anons….
I consider the attack waves of muh jew posts (much copy pasta, often called out by anons) shilling. And i speak up.
I am not jewish and not working for mos….kek.
If you consider me a shill, i can live with that. Don't really care.
But its a free speech board and i feel it is important to use this right and speek up about what i consoder shilling.
Notables are made to have eyes on relevant posts.
Anons usually don't read the whole breads they missed, but look for notables.
That is also what one should do to be up to date before posting.
I think you can see why i want a relevant post to be notables and have more eyes on it.
Will be my last post on this topic, don't want to slide with you shills anymore.
Agree.
They want you DIVIDED.
DIVIDED by RACE.
DIVIDED by RELIGION.
DIVIDED by CULTURE.
DIVIDED by CLASS.
DIVIDED by POLITICAL AFFILIATION.
DIVIDED YOU ARE WEAK.
TOGETHER YOU ARE STRONG.
WE, THE PEOPLE.
WWG1WGA!
Q