32 votes

Bernanke slams Ron Paul's Fed audit bill

WASHINGTON | Wed Jul 18, 2012
By Pedro Nicolaci da Costa

(Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday rebutted Republican lawmakers pushing a bill that would give Congress the ability to review monetary policy decisions, saying it could compromise central bank independence.

Bernanke said it would be a "nightmare scenario" if politicians decided to second-guess monetary policy.

"That is very concerning because there's a lot of evidence that an independent central bank that makes decisions based strictly on economic considerations and not based on political pressure will deliver lower inflation and better economic results in the longer term," Bernanke told the U.S. House of Representatives' Financial Services Committee.


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"saying it could compromise central bank independence."

Who is to say that the Fed IS independent. I suspect they answer to, and act on behalf of the globalists.

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
Friedrich Nietzsche

Audit Fort Knox First

I don't know if there is any gold, or as much as there is supposed to be, in Fort Knox. But I'm damn suspicious.

And a lot of other people are, too. Plus, it is tangible in a way that auditing the FR is not.

The Federal Reserve has got to GO. An audit would be nice, yes, but they probably have cooked books, anyway, and we are talking YEARS before any audit would be completed. How did the investigation of JFK go? Or 9/11? Or Bin Laden's "death?"

The people who would be put in charge of the audit are some of the prime suspects in the cartel's hidden agenda.

If you can get it done, great! But I'm not holding my breath. More effective would be to repeal laws that force all banks to participate in the FR and that make FR monopoly money the official currency.

On the other hand ...

If ya wanna wake people the hell up, send cameras in and a forensic team to find out what the hell is in (or not in) Fort Knox.

Hey, we could send Geraldo Rivera! LOL

P.S. Bernanke is ... WRONG

In reality, there is NO EVIDENCE that the existence of the Federal Reserve has made for better economic conditions.

- The worst depressions have occured WITH the Fed.

- The worst banking crisis (wiping out an entire sector of the banking industry, the Savings and Loans in the 1980's) occured WITH the Fed.

- The worst devaluing of the currency has occured WITH the Fed.

- The most abusive and violent ups and downs in the economy has occured WITH the Fed.

- The biggest government bailouts and transfer of wealth from the middle class to the rich occured WITH the Fed.

- The worst abuses in government over-spending and, as a result, abuses of individual rights by an out-of-control government have occured WITH the Fed.

When there was no Fed, none of these things were a problem like they are today, with the exception of abusive government for a couple of years when Lincoln was in office.

Bernanke, once again, is just ... WRONG.

(Unless, of course, when Bernanke says controlling the Fed would be a "nightmare" he is really saying it would be a nightmare for the owners of the Fed, while trying to make it sound like it would be a nightmare for everyone else ... gee ... he wouldn't use doublespeak like that, now would he???)

So... Bernanke admits

So... Bernanke admits government intervention is a problem? LOL

Freedom always wins

We want the citizens to have independence not the FED

We need to put these people in there place they try to act like they are public servants but the only one they serve is themselves.

Time for them to know they are not in control the people are in control
not these bankers or any of these tyrants the FED will be audited and the crooked dealings will bring it down.

I would not be surprised to see Bernanke being tried and imprisoned
along with Holder when they find out how you have stolen the American peoples money risked destroying our country by your greed.
It is time for the American people to make our voices heard except no substitute for the truth.

The Fed has never been independent, it has always been a

government sponsored monopoly. A truly independent Fed would have to compete with other money suppliers - that's the competition in currency that Ron Paul supports.

A "nightmare scenario" if politicians decided to second-guess

monetary policy?

And we don't have a "nightmare scenario" NOW!?!?!?!?


..he's hiding the WMD's at the Fed?

Let's face it

The nightmare scenario has long since passed. US off the gold standard... Federal Reserve established... Politicians influencing monetary policy leading to economic instability...

The $#@! hit the fan a long, long time ago.

If we

Conspire behind closed doors, we will get a better result.
How will you know that..you say?
Because we will tell you that, of course.
You know it's all in the interests of maintaining a stable economy..and national security.
You must surely know we are the only ones capable of understanding the complicated process of printing and distributing monopoly money.
So move along, nothing to see here..

"Hell is empty, and all the devils are here" (Shakespeare)
RP 2012~ Intellectual Revolution.

I wouldn't call it a slam

I would call it Bernanke using fear to avoid transparency.


Im pretty sure President Paul would re-open the jail that is under the Capitol, which has been closed for over a hundred years and throw them in there.
He would not spend one dime on flying them to gitmo or build a new country club for them to sit while awaiting their trials.

I also believe Paul has clean enough hands for his DOJ to have a 100% conviction outcome.
The question would be, will he just this once mandate FOX to be forced to carry the trials viewing for FREE and at FOX/MSM EXPENSE?

America wants trials and the good thing is that Paul will NEVER send any of them to the Hague for prosecution. There is no authorization for this...
American Justice, in American courts~ under a Paul presidency gives me chills and would be AWESOME to bear witness.

"OH NO! He has a SON?" Neoconservatives and Liberals EVERYWHERE!

Rand Paul 2016



Jackson County Georgia

War is an instrument entirely inefficient toward redressing wrong; and multiplies, instead of indemnifying losses.
Thomas Jefferson

I'm telling you right now

We need to move on from this Audit the FED thing.

First off, it wont be audited for the reason Bernanke gave and noone in DC has the cahones to smash him in the face and say thanks for your input, now move the F aside while we FULLY audit you a$$ WITHOUT lubrication.

Secondly, even if there is an "audit", your talking about auditing a criminal organization who you gave a year+ warning to!!
What praytell do you think you'll find now? redacted documents so you can ponder what WAS on the page?
Ledgers with so much eraser/whiteout it looks like a 6 year old had it for craft time?

Jackson County Georgia

War is an instrument entirely inefficient toward redressing wrong; and multiplies, instead of indemnifying losses.
Thomas Jefferson

Your right

They shot all those people at Kent State, Waco, Ruby Ridge. They went against the constitution during Katrina. There is a mountain of evidence that OKC and TWC were government sponsored. But. It's all over and done with, no need to waste our time complaining!

With that attitude we shouldn't even fight Obamacare. Or the undeclared wars. Or the drones being used in America. Or the thousands of other unconstitutional things this country is doing!

You can't fight them, so shut up?????

the Fed is a big, stupid bureaucracy

And fittingly, they have a pyramidal structure with thousands of mid and low-level bureaucrats that get paid for sending emails and publishing internal reports. These guys have been unwittingly piling up a veritable mountain of evidence that they would have to clean up. There is no way the money masters can cover all their tracks. The best they could do would be obscuring some of the most egregious stuff they've done, like selling the gold in Fort Knox (as RP has openly wondered about before). But their complete incompetence would be exposed by any decent audit. They would have hell to pay.

They'd have hell to pay??

come on Fiat, what country do you live in?

an audit would produce a mountain of evidence . . . . .

How would you(actually the US citizenry) know there were all these "things" that someone needed to answer for?

The media wouldn't report anything on it
Newspapers wouldn't.

It'd be like ummmmm hmmm . . . that other thing that was CRAZY!!!
you know, that event that was filmed and repeatedly watched.
that event that had ALL the lights shining on it from the whole country.
you know that event that had too many coincidences to be anything OTHER than coordinated in some way

That event that the US thinks osama did.

there will be no hell to pay, because the only folks that will take the time to worry or care will be US!!

Jackson County Georgia

War is an instrument entirely inefficient toward redressing wrong; and multiplies, instead of indemnifying losses.
Thomas Jefferson

The average US citizen is asleep

but they are not stupid. I know, it's tempting to assume that there is no amount of evidence that could ever wake some people up, and in certain cases, it's true, when all the evidence supports a hypothesis that has been falsely ruled out. So, don't make the same logical mistake.

Although logic can factor into forming people's beliefs, their emotional interests, and perceived social positions also factor into the process. The reason why we have so many sleepwalkers around is because they have been able to function without having to think for themselves, by just conforming to others' worldviews. They then come up with ways to rationalize the position they've arrived at. This feature of psychology that the fascists are currently using to keep people sedated is also what makes it possible for us to win still. Not everyone has to understand why the Fed has sold them down the river. They just have to understand that lots of other people know why, and they will take cues from them to see just how mad they should get, and about what.

This principle is universal. It even applies to the opportunistic bastards in the house and senate, who live in a perpetual beauty contest. They'll start off by making inane little tweets about the need to keep the Fed or government accountable, because that's what they think their constituents want to hear. And they are always looking to score points by crucifying a bad guy. Their primary goal is to get re-elected, and they will sell out their current corporate interests just as quickly as they sold us out if they think that's what it takes.

Auditing the fed doesn't just appeal to people like us, it's also something that conservatives and progressives can get behind. These are people like you and me that just have different social barriers to facts, but if you give them the right ethos and pathos, the logos part will stick.

two things that will help . .

#1 - if the internet remains free and unencumbered by government
#2 - when the older generation(65+) dies off. They're so brainwashed theres no getting through. period.
The youth are more observant and dont accept what the government tells them. thats good.

On congress? I dont think their gonna sell out their corporate interests. They'd sell their mom TO their corporate interests. Facism is as real here as it ever has been anywhere.

Jackson County Georgia

War is an instrument entirely inefficient toward redressing wrong; and multiplies, instead of indemnifying losses.
Thomas Jefferson

"Don't Worry! Trust me!"

"I know what I am doing! Without us the economy will fail!"

"Pay no attention to that man behind the curtain!"

I got an idea...

let's tie everything to LIBOR. Nobody could ever manipulate that.

"There is a War going on for your Mind!"

"pay no attention to the men behind the barbed curtain
nor the craters beneath the draped flags
those hoods are there for your protection
and meteors these days are the size of corpses

there is a war going on for your mind




This is why it is sooooo vitally important that Ron Paul supporters stop licking their wounds over the blatant ignorance of GOP voters in picking Mitt Romney and the blatant corruption of the GOP establishment in intimidating and disenfranchising Ron Paul delegates.

If this bill is to pass the Senate, it is VITAL that Republicans take back the Senate. But, not just any Republicans RON PAUL-endorsed Republicans. In 13 days is the Texas Senate run-off between Ron Paul/Rand Paul-endorsed Ted Cruz and Rick Perry-endorsed establishment David Dewhurst. Cruz has pledged if elected to help Rand get Ron Paul's Audit the Fed bill passed through the Senate. We need to be doing everything we can to help Cruz, whose been leading by a slim margin in recent polls win on July 31.


Kurt Bills is another Ron Paul-endorsed Senate candidate. Kurt was carried to victory by Ron Paul Republicans at the Minnesota state convention. In November, he will face off against liberal, but, popular Democrat Amy Klobuchar. Kurt Bills is also running on a platform to audit the Fed. http://www.youtube.com/watch?feature=player_embedded&v=lwcuj...
We need to do everything we can to help him win. We don't want Ron Paul's bill to die in the Senate.


Bernanke Knows EXACTLY why things must be kept a secret

Just like Henry Ford did:

Henry Ford quote:
"It is well that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be revolution before tomorrow morning."

Hey Ben

There's a lot of evidence that the Fed's independence is pure fiction, and that it hasn't exactly kept inflation in check, and that short, medium, and long-term, the economy is hosed, mostly because of the twisted and parasitic fiat money system that was set up in 1913. I am investing in torches and pitchforks, because people are going to be mad as hell when they see what crazy experiments you've been running with their money.

Who will

bring the tar and feathers?

Republicae's picture

It has never been independent

It has never been independent of the political influences of D.C., it does this governments bidding and it is the only reason the government can operate beyond the boundaries of either Constitutional order or common sense. The FED is the facilitator of every government excess, that is one of the primary reasons for its creation, to allow for the transistion of the federated government of this Constitutional Republic into a System of Mercantilism, Patronage and Authoritarian Edict, none of which would be possible without the FED and the paper fiat monetary system.

As a side note, though it is unofficial, the common German people are bring their old Deutschmarks out from their mattress stuffing and using them, though it too is fiat money and no longer has official legal tender status in Germany, the people themselves are taking matters into their own hands. One must wonder how long before the Thugs in all the capitals of the EU get the message and begin to tell Brussels to forget it, they have had enough?


"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun


If the Fed were indepedent, you would think that at least one time in 100 years of operation, when the US government asked them for money, they would have said "You know what? It's not really in our interests to print you up any more dollars right now. Maybe you guys should have a bake sale or something." If people can provide me with examples of times when this has happened, then talking about the Fed's indepedence will be less of a joke.

that wasn't really a

that wasn't really a "slam"...i was hoping he'd be more aggressive to give us something new to talk about.