Sunday, January 15, 2012

What is "full disclosure"?

Ron Paul has advocated for a full and complete audit of the Federal Reserve (a private banking cartel authorized by Congress to set the price and availability of money).  Ron Paul's H.R. 459 is his latest attempt to allow the Government Accountability Office to do a full and complete audit.

In the spirit of fighting against transparency while pretending to be transparent, the Federal Reserve Bank of New York president, William C. Dudley, had a letter published in Wall Street Journal in which he blatantly lies:
The swaps, which have been used as a policy tool dating back to 1962, are fully disclosed to the public and their usage updated weekly on the Federal Reserve's website.
Full disclosure would include all of the details - which bank, what currenty, the date, the interest rate, and the term of the loan ("swap).
This is the website to which he refers. The website provides weekly summaries, not the details: "Operations during week ..."  This is not full disclosure.