To be explicit, Bernanke said that it would be "EXTREMELY UNLIKELY" that bank confiscation would happen here, and made reference to the FDIC and how the U.S. government typically tries to go other way - flood the system with FRN's, not the other way around. Although Bernanke did not say that such a confiscation was impossible, unconstitutional or illegal.
Hmm.. Maybe we should get some CLARIFICATION ON THIS? It's not about propriety its about legality or constitutionality! I feel another Rand Paul filibuster coming on!
VIDEO BELOW TAKES YOU EXACTLY TO BERNANKE'S ANSWER:
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