Originally Posted by TheDoc

Where is this audit? Not an audit on it's little programs, or a bailout, like of the actual reserve, it's books! Where is that? I'll tell ya where it is... no where, it's never been done!

They may use some standards, but it's not like anything we use or any other accounting standard in the world. When we make a profit, we do not create an equal debt out of thin air, we account for it, something the fed does not do, at any level.

That would be incorrect accounting by ever standard in the world.