Harry Reid on auditing the Fed
Grace Wyler digs up some great quotes from the 90s. I don’t necessarily disagree with Reid’s new stance (the point of the Fed is that it’s an independent agency; having money supply controlled by a purely political agency like Congress would be potentially more devastating for Austrians), but the hypocrisy is pretty thick.
But Reid hasn’t always been opposed to a central bank audit. In fact, the Nevada Senator has himself introduced legislation to audit the Federal Reserve, and co-sponsored several bills to increase transparency at the central bank in the 1990s, according to government transparency watchdog Govtrack.
[…]“I have sponsored legislation every year that would call for an audit of the Federal Reserve system. I offer that amendment every year, every year it gets nowhere,” Reid says. “I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve — it’s taxpayer’s money that’s being used there. But we don’t do that.”
