Quote:
Originally Posted by yads
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first page from your link.....
"The Reserve Banks are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting."
so, deloitte audited the numbers provided by the federal reserve, but could not audit how they attained those numbers or whether or not the numbers are factual.
furthermore....
"As described in Note 4 to the combined financial statements,
the Reserve Banks have prepared these combined financial statements in conformity with accounting principles established by the Board of Governors of the Federal Reserve System, as set forth in the Financial Accounting Manual for Federal Reserve Banks, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America."
essentially, the fed has it's own accounting rules that are not similar to any other means of accounting deemed acceptable in america.
"Although the Federal Reserve Bank claims not to be private as their website claims, the clearly operate under terms that no other "government institution" operates by. For example, they are not required to submit financial information and are not subject to IRS audits, nor do they even publish the amount of money they print to the American public. So given these terms it's hard to believe the Federal Reserve's claims that they are a government institution providing a genuine service to the American people. A commonly held position not mentioned on their website is that The FED is a privately owned central bank. Central banks are supposed to implement a country's fiscal policies. They monitor commercial banks to ensure that they maintain sufficient assets, like cash, so as to remain solvent and stable. Central banks also do business, such as currency exchanges and gold transactions, with other central banks. In theory, a central bank should be good for a country, and they might be if it wasn't for the fact that they are not owned or controlled by the government of the country they are serving. Private central banks, including the United States FED, operate not in the interest of the public good but for profit.
There have been three central banks in the nation's history. The first two, while deceptive and fraudulent, pale in comparison to the scope and size of the fraud being perpetrated by the current FED. What they all have in common is an insidious practice known as "fractional banking."
Who really owns the FED? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.
The FED is the only for-profit corporation in America that is exempt from both federal and state taxes? The FED takes in about one trillion dollars per year tax free! The banking families listed above get all that money. Forty cents in every dollar of US taxes."