Watch Bernanke stammering about not auditing the Fed

[Taco John]

This is hilarious! I can't believe this guy's audacity.

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[BucEyedPea]

75% of Americans want the Fed audited now too.

[Stewie]

Dang, I can't get it to play.

I kind of feel sorry for Bernanke. His position has become so political the past 20 years that he's forced to lie. That would be a horrible job.

As for auditing the Fed? It won't happen, in my opinion. It would expose the man behind the curtain pulling levers and pushing buttons in a way that absolutely intervenes in the "free markets" they are supposed to promote.

[BucEyedPea]

It won't happen, in my opinion.

I think that's a possibility. I think so many limitations could be put on it like it did the last time that nothing would be exposed. I worry about the Senate or some other end run. I still hope that this time it will fly though.

[BucEyedPea]

Big guns coming out against this including writers on WSJ ( they benefit from the Fed)

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[BucEyedPea]

It really isn't. The specifics are more like:

What has Bernanke panicked is this: the Federal Reserve has bailed out the biggest banks and has let almost 100 little ones die. This is crony capitalism at its most notorious.

The threat is that Congress will discover what should be obvious: the biggest banks last October almost went bankrupt. Bernanke and Paulson admitted this to Congressional leaders. This is how they got the leaders to authorize the Treasury bailout. This is why the FED swapped marketable Treasury debt for unmarketable toxic debt at face value with the biggest banks.

Which banks? The FED refuses to say.

This is the heart of the matter. This is what has Bernanke in a panic. If Congress compels a full audit – a real audit, not a FED-controlled audit – individual members of Congress will discover that the American financial system is a house of cards. A few of them will release the results of the audit to the public. This will include Website publishers, who will go over the audit, line by line. The mainstream media will face being scooped by newsletter writers, so they will try to publish first.

The public will find out which banks are not safe. This is what has Bernanke in panic mode.

The public will pull deposits out of the biggest, least safe banks and open new accounts at banks that look safer. That will bust some very big banks.

There is no way that the FDIC could cover the losses of even one of these giant banks. It is down to $12 billion in assets, mostly T-bills. It would have to come to Congress for the line of credit that Congress has extended: $500 billion.

The banking cartel would face a breakdown. Why? Because the public would finally learn which big banks got how much money, how much Treasury debt for toxic assets, and on what terms.
http://www.lewrockwell.com/north/north739.html

[KILLER_CLOWN]

Ron Paul on The Alex Jones Show: Driving Ben Bernanke Crazy

Alex Jones Channel
Thursday, July 30, 2009

Alex welcomes back to the show Texas Congressman and former Republican presidential candidate Ron Paul. Paul’s bill, H.R. 1207, the Federal Reserve Transparency Act of 2009, has gained tremendous momentum since it was introduced in the House last February.


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[talastan]

It really isn't. The specifics are more like:

While I understand the concern the fact that their power is still pretty much unlimited and unchecked is what drives me nuts. Constitutionally it is the Congress who sets the fiscal policy; the fact that a board of relatively unknown and undiscussed bank executives get to decide what our money is worth, and how much to print, or what our loans will be valued at is ridiculous and elitist IMO. :shake:

[sportsshrink]

Dang, I can't get it to play.

I kind of feel sorry for Bernanke. His position has become so political the past 20 years that he's forced to lie. That would be a horrible job.

.

Feel sorry?:shrug: I say, 'what comes around goes around":D Remember his 'Tony Soprano' routine he did to the "Bank of America" CEO in forcing the bank to playball?

Bernanke's arrogence precedes him. Screw him!!!!!:shake:

[BigChiefFan]

They don't want to be audited because they'll be found out on how much they have scammed the general public. Remember, the FED is a PRIVATE ENTITY and yet they DICTATE INTEREST RATES to the PUBLIC. I don't think Bernake doing his mini-tour is just a coincedence. Keep the heat on.

[BucEyedPea]

I just got a phone call from the Campaign for Liberty to donate $200 to fund keeping the heat on. I would if I had it but I'm strained right now. They're saying the Senate is where this could fail because that has most of the guys that on the Fed's side.

I told them I'd call my senators and that wouldn't cost me anything.

[Stewie]

Feel sorry?:shrug: I say, 'what comes around goes around":D Remember his 'Tony Soprano' routine he did to the "Bank of America" CEO in forcing the bank to playball?

Bernanke's arrogence precedes him. Screw him!!!!!:shake:

I didn't say I liked his policies, but this shitstorm took shape many years ago. I think he was hoping the halcyon days of Greenspan would continue with him at the helm. The problem is that the foundation is crumbling and he's trapped telling lies and spinning bad news day after day.

As for the BOA ordeal, don't think for a minute that Goldman Sachs wasn't behind that BS. The Fed is GS's puppet.

[Stewie]

I just got a phone call from the Campaign for Liberty to donate $200 to fund keeping the heat on. I would if I had it but I'm strained right now. They're saying the Senate is where this could fail because that has most of the guys that on the Fed's side.

I told them I'd call my senators and that wouldn't cost me anything.

What does $200 buy?

[stevieray]

Is this the vid where Grayson grills him over sending money to foreign countries?

[BucEyedPea]

Is this the vid where Grayson grills him over sending money to foreign countries?

That part really bothers me.

[BucEyedPea]

What does $200 buy?

I didn't ask. I can give you their number if you wanna give.

I think they asked for that because I gave $200 to Ron Paul's campaign earlier.

[Hydrae]

Dang, I can't get it to play.

This

[sportsshrink]

The problem is that the foundation is crumbling and he's trapped telling lies and spinning bad news day after day.

As for the BOA ordeal, don't think for a minute that Goldman Sachs wasn't behind that BS. The Fed is GS's puppet.

Precisely! Just as Geithner is a puppet and why he was picked. Not because 'he' was the 'only' man who could fix our economy but because he has 'no spine' and can be manipulated by the WH without any rebuttal.

I agree with the GS analogy:thumb:

[nstygma]

This is hilarious! I can't believe this guy's audacity.

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i couldn't get it to play either... is this (http://snardfarker.ning.com/video/ben-bernanke-on-the-verge-of) the intended video?

[googlegoogle]

http://snardfarker.ning.com/profiles/blog/show?id=2649739%3ABlogPost%3A83999&page=1#comment-2649739_Comment_84157

[kcfanXIII]

haha, they are getting scared. he makes it sound like congressional oversight is bad, but thats actually what the people want. we want to know where the bail out money went. we have to pay it back, our children will have to pay it back, and our grand children will have to pay it back. we have a RIGHT to know who is stealing our money.

[petegz28]

haha, they are getting scared. he makes it sound like congressional oversight is bad, but thats actually what the people want. we want to know where the bail out money went. we have to pay it back, our children will have to pay it back, and our grand children will have to pay it back. we have a RIGHT to know who is stealing our money.

We know where the money is going....

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