TechFlow news — On February 13, according to The Block, calls for auditing the Federal Reserve, long championed by its critic Ron Paul, are gaining momentum. Elon Musk, head of the newly established Department of Government Efficiency (DOGE), voiced support for the proposal, calling it a "good idea."
Jordan Petsas, chair of the Department of Economics, Finance, and International Business at Scranton University, said that if a Federal Reserve audit reveals issues such as excessive money creation, it could undermine public and investor confidence in the U.S. dollar. Such concerns about the stability of fiat currency may boost demand for alternative stores of value like bitcoin and gold.
Cryptocurrency derivatives trader Gordon Grant noted that an audit of the Fed could prompt Americans to question the soundness of their currency, potentially accelerating a shift toward physical assets—such as using tokenized gold for instant payment transactions—or turning to bitcoin as an alternative.
