Not Even a Whole Set of Ginsu Knives Can Help Bernanke with this Slice and Dice Job

Post author:Stubborn_Facts
Post published:December 10, 2010
Post category:END the FED / Federal / Nebraska / Network Archives

: Not even the whole set can help Bernanke

Federal Reserve Chairman Ben Bernanke appeared on 60 Minutes this week, apparently to soothe Americans’ concerns. This of course, is a necessary PR effort at this point. Wonder if that PR firm the Fed hired in 2009 advised Bernanke to make the appearance? Perhaps, although these efforts don’t appear to be working all that well. The woman hired to head up the PR effort should be better at helping a failing entity keep up a facade; after all, she was the head of the lobbying organization in D.C. for Enron before that house of cards collapsed.

In his 60 Minutes interview, Bernanke claimed that inflation concerns were overblown and accusations that the Fed has been printing money are incorrect. In nearly the same breath, however, Bernanke explains that the Fed is simply buying up securities. It is nearly impossible to swallow this answer. One man’s quantitative easing is another man’s shell game. Tomaeto, tomahto. If the many, many comments on the website Daily Bail are any indicator, people aren’t accepting the Chairman’s explanation and they are not reassured by his twitchy explanations.

I believe the following comment sums up the general reaction to Bernanke’s statements and points out the inherent problem:

“Not printing money? What is he buying the government bonds with, toilet paper? No, those bonds are bought with computer keystrokes; they don’t even bother printing the currency any more. Why didn’t 60 minutes challenge this ridiculous assertion.”

: Too bad that created money is just blips on a computer screen…

If the upcoming session of Congress fails to fulfill many of the over-inflated hopes and dreams of the electorate, there is sure to be at the very least, much entertainment to be found in watching C-Span footage from the Subcommittee on Domestic Monetary Policy. Despite the GOP-establishment’s initial efforts to block, Texas Congressman and End the Fed author Dr. Ron Paul has been officially appointed Chairman of that Committee. As a member of that Financial Services Committee in the past, Rep. Paul had strenuously questioned Bernanke and others about lack of transparency and policy. Rep. Paul certainly did what he could under the constraints of Rep. Barney Frank’s Chairmanship.

It may well be the case that Rep. Paul can be credited with the Fed’s 2009 move to hire that PR firm; Paul’s bill requiring an in-depth audit of the Federal Reserve, H.R. 1207 created a lot of pressure in 2009 and garnered 320 co-sponsors. Hopefully, Rep. Paul will be able to use his new position to create even more pressure on this entity.

For more information on the Federal Reserve, consider some of the following resources:

Ludwig Von Mises Institute: a search for “Federal Reserve”

The Daily Bail: a search on “Federal Reserve”

The Daily Bell

For a vivid “interpretation” of one of the 2009 monetary graphs from the Fed, see Glenn Beck’s “An Inconvenient Debt“

Tags: #CLCs, $600 billion in securities, Audit the FED, Barney Frank, Ben Bernanke, buying treasuries, CLibertyC, committee chairmanships 112th congress, Congressman Ron Paul, Constitution, constitutional liberty coalition, currency inflation, currency value, Dr Ron Paul, enron lobbyist, Featured, fed buying u.s. debt, fed hires pr firm, Federal Reserve, federal reserve chairman, federal reserve charts, for life and liberty, GiN, grassrootsne, h.r. 1207, hr 1207, Hyperinflation, inflation, inflation concerns, monetizing the debt, money in circulation, money supply, Nebraska, quantitative easing, rep. ron paul, Ron Paul, Shelli Dawdy, subcommittee on domestic fiscal policy, the Fed, us securities, value of a dollar

Stubborn_Facts

Shelli Dawdy is first and foremost the mother of three children whom she has taught at home via the classical method since removing her children from school in 2001. During her early years as a homeschool mother, she worked part-time as a freelance writer. Born and raised in the Iowa, Shelli and her husband moved to the state of South Dakota in 1997, attracted to its more limited government and friendly tax environment. In 2006, Shelli and her family relocated to Lincoln, Nebraska, when her husband’s employer offered a new position. She took a break from work and politics for a time, recognizing the need to focus solely on her childrens’ schooling with two now of high school age. Distressed by many things she was witnessing on the national political scene and disillusioned about the Republican Party, she decided to start writing again, this time online. Motivated to get involved with others at the grassroots level, she networked with activists on the social media tool, Twitter. She was involved in organizing the first tea party rallies inspired by Rick Santelli’s “rant” on CNBC in February 2009. Recognizing that activism should generate on the local level, she founded Grassroots in Nebraska in March of 2009. The group’s mission is a return to Constitutional, limited government, according to its original meaning. While the group has held several tea party rallies, it’s focus is to take effective action. Among its many projects, GiN successfully coordinated testimony for the hearing of the Nebraska Sovereignty Resolution, networked with other groups to ensure a large show of public support at the hearing, and coordinated follow up support to ensure its passage in April 2010. While working to build up GiN throughout 2009, she was asked to work as writer and producer of the documentary film, A New America, which lays out how Progressivism is responsible for how America has moved away from its Constitutional roots. You can see more of her work on Grassroots in Nebraska (GiN) and StubbornFacts

Stubborn_Facts

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