The FED Offers A Logically Weak Challenge To "Audit The Fed".

This is just a link to an excellent post by Paul-Martin Foss on the Carl Menger Centre for the study of money and banking blog:

http://mengercenter.org/?p=1490

The fundamentally flawed reasoning behind the Feds very existence is being increasingly drawn into the public sphere of exposure.

It's an all round excellent blog, the follow up is here:

http://mengercenter.org/?author=1