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Bernanke to Congress: Butt Out of Our Business!

WASHINGTON (AP) — Chairman Ben Bernanke offered a wide-ranging defense Monday of the Federal Reserve’s bold policies to stimulate the still-weak economy.

The Fed needs to drive down long-term borrowing rates because the economy isn’t growing fast enough to reduce high unemployment, Bernanke said in a speech to the Economic Club of Indiana. The unemployment rate is 8.1 percent.

Low rates could also help shrink the federal budget deficit by easing the government’s borrowing costs and generating tax revenue from stronger growth, Bernanke argued.

The chairman cautioned Congress against adopting a law that would allow it to review the Fed’s interest-rate policy discussions. The House has passed legislation to broaden Congress’ investigative authority over the Fed and allow a review of its interest-rate policymaking. The Senate hasn’t adopted the bill.

C o n t i n u e . . .



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How about Bernanke butts out

How about Bernanke butts out of OUR business and stops destroying our currency?

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Better yet

how about more people ween themselves off of the FRN? Have you tried going around your area to see if others are willing to use alternative mediums of exchange? It's not so simple in every situation, but it's better to start trying now than waiting until we become Zimbabwe 2.

Just my .02 FRNs ;)

A signature used to be here!

So we're not supposed to politicize...

So we're not supposed to politicize something that affects 1/2 of every transaction we make, decides interest rates and sets premiums, and can decide whether we keep our house or not?

Sure, okay.

Congress should issue letters of Marque and Reprisal...

against Bernake and his banker criminals. Let the bounty hunters take care of him and his cronies.

Do the same thing over and over

and expecting a different outcome is the definition of insanity.

skippy

FIAT MONEY SHOULD BE BANNED!

Fiat currency should be banned in world markets and anyone creating this type of fake money should be jailed for FRAUD!

More Like

COUNTERFEITING MAYBE?

skippy

Bernanke forgot to add to his fine list of points

Greater inflation forces people to spend more.

Or to save more in the

Or to save more in the expectation of hardship.

Please visit my site for more information about my libertarian book. Thanks!

Bernanke reiterated his

Bernanke reiterated his argument that lower rates boost growth by helping increase prices of stocks, homes and other assets. Greater household wealth tends to make consumers and businesses more willing to spend.

The hubris of these guys continues to astound me. They think we're nothing but a bunch of rats whose behavior they not only can control, but that they're entitled to control through their market manipulations.

I must be willing to give up what I am in order to become what I will be. Albert Einstein

Yeah. If household wealth

Yeah. If household wealth mattered one bit for him, it's purchasing power he would focus on. Not how much debt we can pile up.
Lower prices tend to make consumers and businesses more willing to buy, surprisingly.

Please visit my site for more information about my libertarian book. Thanks!

The free market.

We don't want Congress fixing interest rates either Mr. Bernanke. We want the market to determine the price of money.

"Where liberty is, there is my country." -Benjamin Franklin

Its tough for the government

Its tough for the government to stay out of monetary policy when the fed is worried about the economy and not the monetary system. The fed has taken away the ability of the common person to safely invest and beat inflation. These low rates are going to cause another crisis as inflation ramps up, rates rise forcing the price of real estate down, and retirement accounts can't keep up with inflation as they are forced to riskier investments.

What we've done several times now

(Bailouts,tarp and Q-E's) Hasn't worked,so we're going to keep doing it endlessly now.Anyone see a problem with this logic?

What body passed legislature

Creating the Fed? Oh, congress did. benny needs to shut up, congress has every right to audit the Fed and end it.

Injection of "political pressure" is the cure, not Ben's curse

"Bernanke warned that such a step would improperly inject political pressure into the Fed’s private deliberations and affect the officials’ decisions." REALLY?!?

I'm usually not an advocate for medical injections; many of which vary in negative health effects from being ineffective to downright harmful; but an emergency intervention by some serious, Constitutionally oath-bound Representatives of the People OUGHT to remedy and simplify the Fed's doing the right thing. Pressure OUGHT to be applied to bring full accountability to the People or bring the charges up

"The Fed's private deliberations and...officials’ decisions", ARE properly under Congress' purview; but sadly, the only reason our Congress folks are slowly moving to do their oversight duty is because they're feeling consistent heat from their constituents to do so!

Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them. - Frederick Douglass

sharkhearted's picture

THAT IS A GREAT POINT!

THanks for that reminder. Well said!

~Chris
Norfolk, VA

Time to INVESTIGATE the investigators of 9/11. PROSECUTE the prosecutors. EXPOSE the cover-up.

Just End the Fed before they steal more or our wealth.

Ben and the Boyz caused the problem and they don't know how.

But they know who to blame.

Just leave them free to steal a bit more. Ben is sure it will work,

Free includes debt-free!

Government likes the fed deal

Government loves the fed deal because they get to ROB the public blind.