Tag Archive: Sen. Rand Paul: Audit the Fed

Sen. Rand Paul: Audit the Fed

Sen. Rand Paul: Audit the Fed If the Federal Reserve was a real bank, without extraordinary powers, it would be insolvent. The Fed has $4.5 trillion in liabilities and only 57 billion dollars in equity. It is leveraged at 80:1, nearly three times greater than Lehman Brothers when it failed. Nearly 40 percent of the Fed’s liabilities are said to be mortgage-backed securities – the question needs to be: How many are distressed home loans? What does that mean? It means the dollar that was once as good as gold ultimately became backed by the full faith and credit of… View Article