Fed is struggling so hard to protect their secrecy/independence!

According to the Bloomberg news, Federal Reserve General Counsel Scott Alvarez said audits of monetary policy by the U.S. Congress could lead to "higher interest rates and reduced confidence in central bank policy." Threaten to raise interest rate if the audit is passed?

Congressional audits of monetary policy could “cause the markets and the public to lose confidence in the independence of the judgments of the Federal Reserve,” Alvarez told the House Financial Services Committee. In fact, the markets and the public are already losing confidence in the independence of the Fed, that's why they want nothing else but a full audit. Why would 75% Americans support the audit if they have, namely, "confidence", in what the Fed is doing? I would say, however, that the so-called "confidence" does not correlate with reality at all, the reality of unresolvable unemployment, debt, and the weakness of the dollar. US unemployment rate is reaching an unprecedented level of 9.8% in government statistics, 16-20% in shadowstats, not to mention UK, Japan, and the rest of the world is also facing the same downturns as well.

"Fed Chairman Ben S. Bernanke and his colleagues are trying to persuade lawmakers not to pass legislation sponsored by Representative Ron Paul of Texas that would repeal the central bank’s immunity to audits of monetary policy."
Immunity? Can you say the Fed is above the law?

Alvarez said GAO audits of discount-window lending could reduce the effectiveness of “these facilities in promoting financial stability, maximum employment, and price stability.” The legislation could also “disrupt” the Fed’s relationships with foreign central banks, he said.

Rofl. They had already failed numerous times miserably to protect, namely, "financial stability, maximum employment, and price stability" since the Fed's creation in 1913, will this time be any different than what the history is recorded? What's more? Disruption of the Fed's relationships with foreign central banks? Fed as a private cartel, has immunity to audits and the ability to deal and make treaties with foreign governments and monetary policies? That sounds to me that the Fed is more powerful than any entities on Earth, including the US government itself. A secret government upon itself, perhaps? I don't see a single reason not to audit the Fed. It not only corrodes the values of the money, but also promotes moral hazard, violence, wars, social instabilities, distrustfulness, and most important of all, strip of liberty along the way. For who controls the money, controls the world. One phrase can sum it all - The Bankers Own The Earth. And Fed has all the power in the world to manipulate the money and move the market as it wishes.

Source: Fed’s Alvarez Says Audits Could Lead to Higher Rates