CAFR1.com | Gee, it appears everyone recently is looking for an audit of the Federal Reserve to be done, why look or wait any longer, here it is! All you had to do was ask, they have provided one each year for the last 96 years.
Here is for 2008
Here is for 2007
Here is for 2006
To get to the meat of the matter, scroll down 2/3rds the way through the report on each until you get to the statistical section. There you will see as to collective numbers. Most of the numbers are noted as being in “millions” so add six (6) zeros. After you look there then go back up in the report and it is very informative reading on the preceding pages.
I NOTE: What really caught my eye was in the 2008 report, page 418, under “Loans and other credit extensions” the increases starting in September through Oct, Nov, Dec, of 2008, WOW, stands out above all other aspects in the 2008 report, and broke all the standards from previous monthly activity in 07, 06 and before. There you will see a 400% to 700% increase over the monthly standard previously shown. My must they have gotten some pretty big fish on the hook…
Wonder what the numbers look like in the beginning months of 2009? Somebody on the hook to the FR is going to be paying back some pretty hefty numbers for quite some time..
Again, audit the Federal Reserve banks you say, well here it is. The Federal Reserve’s Annual Report “is an audit” of the Federal Reserve as noted and signed off upon by several independent parties as noted in the report.
To date I have not been able to figure out why several other parties have been pushing for a “special bill” to audit the Federal Reserve System when all they have to do is download it.
Hear a lot of talk about “Audit the Federal Reserve”? Well, the Federal Reserve which is a private Association that has a listing of member banks has been audited since 1914 and the audit is signed off on by the US Treasury and GAO (General Accounting Office) each year. So I guess all of this talk about audit the Federal Reserve is NOT to audit the Federal Reserve but a push to audit of the members of the Federal Reserve. Just like the Boy Scouts that is an association and puts out an Annual Financial Report of The Boy Scouts of America. I wonder if we can get legislation passed to audit the million or so members of the Boy Scouts and their families? I guess the talk of “audit the Federal Reserve” has some catchy political value that captures the public’s attention under the current financial condition of the United States. Here is the current audit of the Federal Reserve, their Annual Financial Report and back issues going back to 1914.