Bernanke Strikes Back in Washington Post Op Ed
Submitted by Michael Nystrom on Sat, 11/28/2009 - 23:46
By Ben Bernanke | Washington Post
Sunday, November 29, 2009
Snip:
...Congress is still in the midst of considering how best to reform financial regulation. I am concerned, however, that a number of the legislative proposals being circulated would significantly reduce the capacity of the Federal Reserve to perform its core functions. Notably, some leading proposals in the Senate would strip the Fed of all its bank regulatory powers. And a House committee recently voted to repeal a 1978 provision that was intended to protect monetary policy from short-term political influence. These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States. The Fed played a major part in arresting the crisis, and we should be seeking to preserve, not degrade, the institution's ability to foster financial stability and to promote economic recovery without inflation.
Read it all at The Washington Post
Ben stamps feet and threatens,
"I'll take my ball and go home"
At best the fed
recovered its own fumble - way behind the line.
Pro-Short-Term Inflation vs. Pro-Long-Term Dollar Destruction
When people pistol whip Bernake they need to remember to talk in this economic time-lines.
IT IS VERY CRUCIAL
Octobox
Mises on Profit/Loss
Here's my
Here's my translation:
"These matters are complex." = SILENCE, SCUM! DO NOT QUESTION YOUR OVERLORDS!
"the legislative proposals . . . would significantly reduce the capacity of the Federal Reserve to perform its core functions." = IF YOU SUCKERS KNEW WHAT WE WERE DOING, YOU'D NEVER STAND FOR IT.
"protect monetary policy from short-term political influence" = SECRECY
"the global consensus on the appropriate role of central banks" = THE GLOBAL AMBITIONS OF MY FRIENDS IN THE BANKING CARTEL
www.lostrepublic.us
www.lostrepublic.us
Not many pro-Fed comments
I scrolled through a few pages worth. Didn't find anyone defending the fed until page 4. It looks like a lot of people are starting to understand what's going on.
http://2-by-sea.blogspot.com/
http://2-by-sea.blogspot.com/
That's awesome!
This is confirmation our efforts are working. Makes me want to work that much harder. Let's keep it up!
Ghandi's saying
We are in the final stage. Next, we win.
chilling how he refers to global cobsensus
on how America should govern itself.
Time for the wizard to get back into his balloon.
Where Sheeple Tread
Dr. Paul's response in the comments section is terrific. This is where the battle for sheeple is won: our best issue, front and center
5 of us in the middle of a circle. 95 others on the edge in varied groups. Hardcore repubs over there in red shirts, Dems in blue. Independents in tie-dyed shirts. We need 30 people to come to us. Be serious about strategy, every day.
i couldn't find it. could
i couldn't find it. could you post a link to the page it was on?
See the red Comments headline
to the right of the article, click View All. I scanned the comment thread and didn't find a comment directly from Ron Paul, but fatfreddy posted the joint statement of Paul and Grayson currently on page 2 of the article thread.
Wizard of Oz
Saying the audit "would seriously impair the prospects for economic and financial stability in the United States" is like saying "don't pull back the curtain, or you'll find out I'm not a powerful wizard" -- something we knew already.
Gotta love that "global consensus."
IMissLiberty
IMissLiberty
What would you do it a
What would you do if a multibillion (trillion?) dollar scam you were running was threatened with exposure? Let's consider the facts: The purchasing power of the dollar has been stolen since the creation of the Federal Reserve. Inflation is equivalent to counterfeiting, that is, creating something that circulates as currency with no real value. What is the difference between a really good counterfeit federal reserve note and one produced through the machination of the Federal Reserve? There is no difference!
How could anyone conclude that it is in our interest to allow this private bank to create non-redeemable notes that we are forced to accept as money, rather than the real article: gold and silver, or notes that are redeemable in gold or silver? Should we listen to Bernanke and allow the theft to go on?
audit the fed. those of us who pay taxes deserve to know
where the money is being spent.
If it costs people their govt jobs - so be it. If it costs politicians their seats - so be it.
This is transparency that we were told we would have *a year ago*.
The public continues to learn more and more about the fed. If everyone of us is able to educate our friends about the fed res - those friends will tell more people. The wake up call is to show them the national debt clock.
http://www.usdebtclock.org/
I can see what hes talking about
I'm glad I read this...
I think I'll give him the benefit of the doubt.
Perhaps we have been a little hard on him.
For Freedom!
For Freedom!
What's He Talking About That U Claim to See???
Sorry, your empty one sentence doesn't cut it.
Please help me understand
what is he talking about that you see?
The Fed need more sweeping powers to protect us
For Freedom!
For Freedom!
I can see what hes talking about
.
For Freedom!
Bernanke: Don't tamper with the Fed
NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke, just days ahead of his confirmation hearing, is warning Congress that actions limiting the central bank's independence could prove detrimental to the causes of financial reform and economic recovery.
http://money.cnn.com/2009/11/28/news/economy/bernanke_oped/i...
Psalm 109:8
Do you know what happens when
you give a procrastinator a good idea?
Nothing!
NWO Bernanke Prays To 'Global Concensus'
Bernanke shrieks against transparency and light: "...very much out of step with the global consensus ...", he says. Not even a pretense of nation or sovereignty.
Bernanke no longer plays his vaudeville routine of aloofness, to-holy-to-be-bothered, apolitical smugness.
Now he blatantly threatens what's left of the democratic republic with utter catastrophe if the country dares disobey him.
He's on the defensive?
He's broken the magic. He's no longer aloof and mysterious.
Sooner or later, drooling and guileless reporters will ask him honest questions along the lines of:
"What does the Fed do exactly? I mean...where DOES money come from? How is it created?"
If I was Fed chairman, I wouldn't talk to mere mortals.
"I believe the true significance of the Gold Commission is that the politicians and central bankers were so alarmed at such a thing that they made sure it was packed by an array of Keynesians and monetarists." (Ron Paul 1985)
"Yep, fiat money is a wonderful thing DrKrbyLuv, whether debt-based or fresh off the press without debt...you are going to love all that fiat money when it is cheaper to wipe your ass with a 100 Dollar Bill than to buy toilet paper." -Republicae.
Global Consensus?
Which part of the globe are we talking about here?
______________________________
The United States is a nation of laws, badly written and randomly enforced. - Frank Zappa
http://www.myspace.com/occasionalstringband
The United States is a nation of laws, badly written and randomly enforced. - Frank Zappa
http://www.myspace.com/occasionalstringband
"promote economic recovery without inflation. "
What planet is he living on? All the Fed does is print off money and inflate, because they are afraid if deflation ever corrects the situation that their bank buddies would lose out. Maybe Benny boy can address intelligent people in another article.
Bernanke:"These matters are complex,...
"and Congress is still in the midst of considering how best to reform financial regulation. I am concerned, however, that a number of the legislative proposals being circulated would significantly reduce the capacity of the Federal Reserve to perform its core functions."
Federal Reserve core functions like stealing from the public behind closed doors in nice leather fitted chairs, paid for by the public, eating caviar and drinking fine wine while all the time screwing the public out of their hard earned salaries.
If this was supposed to be a fire-side chat with the American public, he only succeeded in helping us determine who will be roasted when all of the facts are finally revealed.
I sense
fear and panic. When Bernanke says that an audit of the FED could result in an economic catastrophe, that is code for....audit us and we will turn off the credit until people are screaming for mercy. And who will pay the price when the economy really tanks? The politicians. Looks like a Mexican standoff is shaping up. We will see who blinks. Bernanke knows that if the FED is audited, the truth will be revealed and the people will demand that we END The FED.
The problem is ...
Inside the beltway, the entire GOP and Democratic leadership structure all just bows down to the almighty FED.
You will soon see Senators and Congressman happily mouthing the exact same talking-points and myths used by Bernanke himself.
The simple FED accountability movement faces serious long odds. For H.R. 1207 was not allowed to even be voted on by the full House as a stand-alone bill. I don't know why Ron Paul and the Committee could not demand that H.R. 1207 be permitted an up or down vote, given that it had over 310 co-sponsers. Instead, it just got attached, gutted, and then reattached to the wasteland of a larger more problematic, so-called "Regulatory Reform" bill -- which Ron Paul himself has already said publically contains too many bad things in it for him to want to support it.
So we may even see Ron Paul himself vote against the very Bill that contains his own H.R. 1207 like amendmant, because that Bill elsewhere grants brand new powers to the FED at the same time.
I don't think we will ever see Nancy Pelosi or Barney Frank agree to permit H.R. 1207 be allowed an up or down vote by the full House all by itself. And, because of that, there will be no Audit of the Fed anytime in the forseeable future.
It's gonna take a whole lot more from us to really get anywhere with holding the FED accountable. Obama wants them to have even greater powers and greater privilege/secrecy.
This is a steep hill to climb.
Bernanke knows he's winning right now, he's just trying to finish the issue off for good.
you really cant blame the guy...
Its like Al Gore.. He believes what he believes and nobody is going to change that.
IMO.. F*ck the Fed.
http://www.youtube.com/watch?v=OO18F4aKGzQ
If the markets are driven by greed and fear, this article must..
be the fear side of the Fed boss now talking.
He has already partaken of a $28T feeding frenzy and is full at the moment.
Al Gore believes in two things (one is green).. MONEY and POWER.
.
.
Debra Medina for Texas Governor 2010!
Rand Paul for US Senate in Kentucky!
Ron Paul 2012, Join or Die!
DONT TREAD ON ME
AN APPEAL TO HEAVEN - WASHINGTON'S CRUISERS
Debra Medina for Texas Governor 2010!
Rand Paul for US Senate in Kentucky!
Ron Paul 2012, Join or Die!
DONT TREAD ON ME
AN APPEAL TO HEAVEN - WASHINGTON'S CRUISERS
...
i didnt say different.. After Ron Paul I feel that most people vote on emotion, not fact.
Climategate is the biggest story of the year and it wouldnt change Gore one bit.
http://www.youtube.com/watch?v=OO18F4aKGzQ
That is BS
lol
randpaul2010.com
schiffforsenate.com
kokeshforcongress.com
rjharris2010.com
randpaul2010.com
schiffforsenate.com
kokeshforcongress.com
rjharris2010.com
The FED Boss It Seems...
The FED Boss It Seems Is A Nightmare Of Schemes !!
"In terms of monetary
"In terms of monetary policy, the Fed is highly transparent."
WHAT! Pass the bong around the circle Bernanke, that must be some real good stuff you're smoking.
_________________________________________________
A recent history of the US economy - http://www.youtube.com/watch?v=Wzze9xCPuok
Bernanke is out on the defensive
...'we should be seeking to preserve, not degrade, the institution's ability to foster financial stability '
Seemed a little while ago new powers for the Fed were being pushed. Now it sounds as if they'll settle for 'preserve' over 'degrade'
bernankie
Ben, what is there to hide if the Fed is highly transparent? So let us see where all the money goes , and for what projects. I don't see the Katrina mess being cleaned-up, I don't see healthcare being subsidized, I don't see the infrastructure being improved, I don't see the farmers being helped, I don't see education being paid for so that the future of our nation is on sound footing. In fact I don't see any betterment for the people of our country. What I do see is that you crashing the economy with little regard for the people, while your privately controlled company enjoys privatized profits and socialized lossesd. We bail you out and the first thing you do is give yourself a huge bonus for the terrific service that you have performed for the American public. What we do need is much more than a transparency law. We need to take back the money power from your untrustworthy hands and place it in the hands of the people, that is to say, the government of the US, so that binding laws will controll where our money is going and being used. You have demonstrated quite clearly that money must be an institution of law or the results are the war based policies you represent. www.monetary.org
Sounds like
the death throws of a lying demon.
End The Fed !!
http://www.youtube.com/watch?v=g1mEXX1rO5o
.v
The Last Hope Trader
Forensic Trading For Times of High Crime
"This Country Began As A Tax Revolt."