US Fed's Bernanke On Defense At Capitol Hill Hearing: Serious Deflection by Fed Chairman

US Fed's Bernanke On Defense At Capitol Hill Hearing: Serious Deflection by Fed Chairman

money.cnn.com

"Let's be clear about what's going on - the Federal Reserve is not putting money out into the economy. What we're doing is creating bank reserves. It's not chasing any goods," Bernanke continued

Posey of Florida, like Paul of Texas earlier, was unconvinced.

"It's going to cause inflation," Posey insisted.

...

In contrast, Democrats were more complimentary of the Fed and its role in rescuing financial markets and preventing an even deeper recession.

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Dr.Paul kicking the FED in the TEETH today!!

"We have to be extra careful that the markets and the public don't think that Congress is trying to influence monetary policy decisions," he said later during testimony.

Additionally, several lawmakers questioned whether the central bank will be able to unwind its rescue programs without triggering inflation challenges.

"The Federal Reserve, in collaboration with the giant banks, has created the greatest financial crisis the world has ever seen," said Rep. Ron Paul, R-Texas. "The problem with debt must be addressed."

Paul, who sponsored the GAO audit bill that has now garnered the support of over half the House, went on to accuse the Fed of monetizing the U.S. deficit, and added that such action "is destined to do great harm."

Still, Bernanke said inflation concerns are misguided, and reiterated to lawmakers that central-bank policy makers expect inflation to be subdued for the next two years.

"I don't think the financial markets are indicating a great deal of concern about inflation," he said, pointing to long-term Treasury rates that are still " quite low."

This is all insane. Bernanke doesn't give any good reason why their economic policies should succeed. everything he said relied on future markets, predictions and overstating their supposed "consumer protection policies".

I cant believe the democrats are still rooting for this guy. Oh, how i wish we still had a republican white house.

The article has a lot more quotations, and is an interesting read.

note: the video of Dr. Paul's introduction in the link below has some direct quotes from the article.

money.cnn.com
(visit the link for the full news article)

Originally posted by Kevin_X2
I cant believe the democrats are still rooting for this guy. Oh, how i wish we still had a republican white house.

Well not all dems
Democrat Alan Grayson "We Got 100 Democrat Congressmen supporting the Audit The Fed Bill"


Ron Paul Questions Bernanke to define the word "Inflation"(TODAY)



I think the mere fact that this bill got this far means alot!
The senate is watering down the bill however

Next, audit the IMF!


S&F!!!!


[edit on 21-7-2009 by ModernAcademia]

ahahaha that last video was great.

Dr. Paul: "the actual definition of inflation is an increase in the money supply"

Bernanke: "Inflation is prices and prices are stable RIGHT NOW"

This guy is absolutely crazy. No plans to monetize the money supple ever? So their going to keep this sharade of an economy floating around?

reply to post by Kevin_X2


I remember George Soros in an interview once
the interviewer said ya but Bernanke said this and that

George Soros said in reply: "bernanke hasn't been right about anything since he got the job, if I kept being wrong about everything I said, you'd stop having me on the show"

hahahahaha


so true man
so true!

reply to post by Kevin_X2


Yes, that last video was outstanding! Dr. Paul keep holding that man's feet to the fire. One day he will break and tell the truth about the heist the Fed is currently undertaking against the American taxpayer. After that grilling Chairman Bernanke appeared slightly shaken by it.

His body language showed discomfort at Ron Paul's tenacious assault. Inflation is prices and now that is funny coming from a man with a Phd in economics. I agree Mr. Bernanke must be a few cans short of a six pack if he believes he can keep printing money and not invite inflation. More money in circulation equals inflation because it drives up prices, isn't that economics 101? Hopefully, the audit the Fed bill gets passed and that it has teeth without being watered down. It is about time the Federal Reserve is accountable for financial policy.

[edit on 21-7-2009 by Jakes51]

"A perceived loss of monetary policy independence could raise fears about future inflation, leading to higher long-term interest rates and reduced economic and financial stability," Bernanke told the panel in opening remarks.

Ahhh.... Benny, Benny, Benny don't ya know.. we're just wanting independent monetary policy... not bankster dependent monetary policy... but, of course, you wouldn't get that concept now would you?? Your scare tactics are soooo overused... let's see some original material for your part in the play... your writers are getting stale Benny.

Oh, and Benny, I just have to tell ya... no one believes that the Fed's role these days is "consumer protection"... you've shown us what Benny-style protection looks like and we don't want it much less more of it. Just go home Benny... don't call us... we'll call you, ok?

reply to post by Iamonlyhuman


Exactly, as G. Celente always quotes Bernie and the rest of the criminals;

Too Big To Fail, Too Big To Fail, which was such a joke and most fell for their bluff.


Over the last Several weeks, I haven't talked to Anyone that is happy with our government, except a 16 year old girl, last nite. My friends daughter, which I can't blame her for what she is only exposed to with the media.

This video is also AMAZING!!!!

Alan Grayson grills Ben Bernanke on Foreign Lending (TODAY)



Notice around 1:55
Ben's mouth gets dry, u can hear it
and that means he's real real nervous!

That Alan Grayson got some guts man

I'm thinking some congressmen all had a meeting to make a plan of attack
and rehearsed alot of this for the bernanke attack

This Grayson guy had a very nice presence on the floor if you know what I mean

Originally posted by Kevin_X2

This guy is absolutely crazy. No plans to monetize the money supple ever? So their going to keep this sharade of an economy floating around?

Someone who misspells that many words in a couple sentences might also be crazy. lol, just saying...

But yea, Bernanke is a crook puppet of the international bankers, I think we all should know that by now...

Bravo Congressman Grayson! Now if a few more where like you and asked the hard questions maybe the Fed would get it's act together. Giving half a trillion dollars to foreign governments by the Federal Reserve is ridiculous. I thought they weren't allowed to do that anyway?

I thought if a foreign government requests a loan they have to petition the IMF or some other international banking body? The congressman clearly caught Ben and his goons doing something unethical and practically illegal. Boy, was he clamoring for that lawyer to back him up. Keep up the pressure guys and someday that house of cards is going to fall down.

TODAY - Ron Paul's remaining 2minutes on the floor - Teaches economics to Bernanke



Ladies and Gentlemen...

It's a HOMERUN!

reply to post by Diplomat


erm.... that was necessary

go find better things to do with your time

...Seriously, why doesn't Ron Paul get more attention? I'm not really all that familiar with him and I virtually never hear about him through mainstream sources. Yet, I keep hearing about him doing bad ass things like this and attempting to legalize marijuana and taking on the IRS, and generally being the only sane one in American politics. I'd like to know how he even made as far as he did.

Originally posted by ModernAcademia
This video is also AMAZING!!!!

Alan Grayson grills Ben Bernanke on Foreign Lending (TODAY)

Notice around 1:55
Ben's mouth gets dry, u can hear it
and that means he's real real nervous!

That Alan Grayson got some guts man

I'm thinking some congressmen all had a meeting to make a plan of attack
and rehearsed alot of this for the bernanke attack

This Grayson guy had a very nice presence on the floor if you know what I mean

Howling with laughter!!!

I think benny has some serious skid marks after that exchange!

[edit on 21-7-2009 by solarstorm]

reply to post by CuriousSkeptic



Fortunately there are lots of people listening to Ron Paul. Lots of his followers are serious fanatics and I am sure that orgainzed militia back him too. The FED is scared to death of this man. Should anything happen to him you will see some serious backlash in the form of bullets flying.

Originally posted by CuriousSkeptic
...Seriously, why doesn't Ron Paul get more attention? I'm not really all that familiar with him and I virtually never hear about him through mainstream sources.

Remember how he was excluded from the Presidential debates? There was quite extensive coverage by mainstream UK media of the build up to the American elections, but Ron Paul (and Cynthia McKinney) did not exist. You'd think just on a human interest basis, the Green Party candidate who was both female and black and the presidential candidate who had opposed the Iraq war and predicted financial meltdown would have garnered a few column inches.

The media is controlled by the powers these politicians threaten.

It's a grander version of the media control which ensures that most Italians don't know what a rogue their leader is:

With scant coverage of pillow-talk tapes at home, Italy's PM has created an information culture typical of authoritarian regimes

Berlusconi's country of the clueless, Guardian, 21 July.

reply to post by Diplomat


While the thread is very interesting as I'm very much deep into what goes on with Goldman Sach golden boy Bernanke. . .

I find very sad that you have to make fun of another member's post.

Why I care?, because like him is many members that the English language is not our first language.

I hope it was just a littler unsavory joke coming from you that after all has been here long enough to see that ATS is not exclusively for English major members.

Star and flag!

Grayson grilled Bernake well!

The FED better get audited to the max or there will be alot of pissed off American people!

Originally posted by ModernAcademia
TODAY - Ron Paul's remaining 2minutes on the floor - Teaches economics to Bernanke

Ladies and Gentlemen...

It's a HOMERUN!

This, right here, deserved a standing ovation.

How can you get more clear cut than this? Why, why, why, isn't this man leading our country.