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Bernanke Slams Audit the Fed

from Ron Paul 2012:

Reports 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.

The hearing was the likely last chance for retiring Texas Representative Ron Paul, known for proposing the Fed should be abolished, to grill the central bank chairman.

“Trillions and trillions of dollars (are) being printed out of thin air,” said Paul.

Read More @ RonPaul2012.com

6 comments to Bernanke Slams Audit the Fed

  • Bobby

    NEVER question the overlords of the fed!!!!
    They are superhuman and know what is best for you…
    Now get back to your sports serf…

  • Choo Hader

    Forget “audit the Fed.”. DESTROY it! No ifs ands or buts. They are treasonous fraudulent thieves that deserve to be disemboweled. Drop Shalom and Greenie to the bottom of the sea for plankton food. Making them into lampshades and candles is too good for them.

  • Lone Wolf

    I contend that Bernanke is lying again! The Fed is not independent but rather dependent on keeping their criminal enterprise going. And… they are not acting in the common good but in self interest. So, I do not buy the Bernank’s idea that their independence is threatened by the audit, it is their behaviors and actions that are threatened by the audit because it will show clearly they have acted in their own self interest rather than in the common good! AUDIT THE FEDERAL RESERVE BANKS NOW!

  • Ed_B

    Lone Wolf has it nailed. The Fed is fighting for its very survival because they well know the shenanigans they have been up to are illegal and could land them all in jail.

    IMHO, Central Banking is right up there on the all time bad idea list with Central Planning; something that has been proved to suck every time and place it has been tried. For some unknown reason, though, there is a never-ending supply of idiots who neither read nor comprehend history who always want to try it again.

  • Puffin' Stuff

    When are we gonna stop paying the never ending debt that CANNOT be paid off and shut this thing down?!?!?

  • Lowell

    Interesting. The “Fed’s” charter is up next year. AGE American Gold Exchange….checks made out to JP Morgan.

    1933 – who shipped it out….who sat on it…why is it coming to a point after 98 years of the fed charter?

    I asked “Ranting Andy”, he said he was too busy writing and didn’t have time to persue “conspiracies. Hmmm. Start asking yourself these questions, and quit getting “caught” up in the flap.

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