Bernanke, and the rest of the bloodsuckers, need to go.
Federal Reserve Chairman Ben S. Bernanke said curbing the central bank’s authority to supervise the banking system and tampering with its independence would "seriously impair" economic stability in the U.S.Because $12 Trillion in debt doesn't, you know, count.
A number of the legislative proposals being circulated would significantly reduce the capacity of the Federal Reserve to perform its core functions," the Fed chairman said in a commentary released yesterday on the Web site of the Washington Post. The measures "would seriously impair the prospects for economic and financial stability in the U.S.."And Heaven favor Ron Paul's economic efforts. Do read End the Fed, by the way.
Bernanke has presided over the most expansive use of Fed powers since the Great Depression. While the 55-year-old Fed chairman has said he averted a financial meltdown, lawmakers have voiced concern about taxpayer-sponsored bailouts and proposed the most sweeping dismantlement of Fed authority since the creation of the institution in 1913.There are no good reasons that an honest broker fears an audit. If you're the Climate Research Unit or the Federal Reserve, there may be some other motives. One cannot fathom, in a purportedly free society, why we've allowed the Federal Reserve to live as long as it has, given the ruinous policies correlated with its existence.
Or is the value the Federal Reserve adds akin to BHO's "jobs created or saved" nonsense?
How we allow an organization such as the Federal Reserve to exist under our Constitution remains a mystery. If we allow Bernanke's billet to exist un-elected, then why do we bother with the rest of the rituals for Congress and the Executive? No. The Federal Reserve Act was the kind of major change to the fabric of the country that should not have been brought in as mere legislation. Like Social Security, if we want this sort of vampire, we should have a Constitutional Amendment to bare the neck.