There is no purpose to not reveal what institutions have borrowed at the Fed’s discount window — those banks potentially in trouble (in such trouble they need to borrow from the Fed because their own loans are such garbage that they can’t collect) perhaps *should* fail.

In other matters, Fed officials have been asked pointed questions at committee hearings, for which they have either given non-responses or manifest falsehoods. Out of the many instances, one example would be: “Has the Fed engaged in agency debt purchases from foreign central banks?”

Fed officials have declared, “none.”

That answer had better be “none” because if it were true, it would mean the U.S. taxpayer is saving foreign central banks and foreign private banks from collapse. But many Fed observers have decried the Fed’s response to this question as an out-and-out lie.

See: http://www.chrismartenson.com/blog/shell-game-how-federal-reserve-monetizing-debt/25806

A second question is whether the Fed is engaged in fraudulent gold sales, through “leasing” of gold stocks that are in fact non-existent — the sale of non-existent stocks of gold would greatly depress the price of gold, which is an important indicator of inflationary policies, which the Fed of course would want to lie about.

See the discussion here: http://www.zerohedge.com/article/smoking-gun-fed-controlling-gold

The Fed claims all lease sales of gold are backed by actual stocks. A public GAO report would validate this fact.

It just seems to me that the only thing at risk by a public audit of the Fed is that somebody’s lies will be revealed to be so.

Why are the servants of the people, like Bernanke and the Congress hiding the facts?
Why not account for all funds? Why not require a ballanced budget and system?
Why allow the people to suffer for what the elected have done?