Audit The Fed: U.S. National Debt Is Actually $86.8 TRILLION

fed reserveKristan T. Harris
UCM Contributor
The Rundown Live
November 5th 2013

A call to audit the Federal Reserve and “End The Fed” became the main focus point of the 2012 Republican primaries. This effort ended when Mitt Romney’s campaign lobbied establishment republicans to change RNC rules (RULE 15), which subsequently, rigged Mitt Romney’s nomination as the Republican Presidential candidate over Ron Paul.

So why would the top subject in the Republican primaries all but disappear in the presidential debates? lets look at the top lobbyists in both campaigns.

Mitt Romney’s top 5 contributors where

  • Goldman Sachs $1,033,204
  • Bank of America $1,013,402
  • Morgan Stanley $911,305
  • JPMorgan Chase & Co $834,096
  • Wells Fargo $677,076

Barrack Obama’s Top  Contributors

  • Goldman Sachs $1,034,615
  • Microsoft Corp $854,717
  • JPMorgan Chase & Co $847,895
  • Google Inc $817,855
  • Citigroup Inc $755,057

What do you do when both roads have the same bank funding and lead to “La la land”?

Lobbyist’s can win and get what they want by lobbying with both campaigns.  This makes sure both republican and democratic presidential candidates will provide political platforms to deliver the same global end result. This includes silencing the publics outcry to audit the federal reserve.  However, in the end, presidential candidates still need your vote.

So you thought the national debt was only 17 trillion dollars did you?

In a deceiving act, the national debt is officially $16.7trillion,  James Hamilton recently in a working paper for the National Bureau of Economic Research discovered an additional 70.1 trillion in debt. Hamilton located ‘off-balance sheet’ obligations including $54.1 trillion in MISSING funding for Medicare and Social Security.

Hamilton’s chart below shows that at the end of 2012, nearly $70.1 trillion (bottom, right) was owed in off-balance-sheet liabilities, in addition to the ‘official’ federal debts.


Should we audit the federal reserve? What if the government allowed competing sound currencies? Would you use money backed in Gold/Silver/Copper  or the American Federal Reserve?