Liberty MavenBill Posey continues Ron Paul’s questioning of Bernanke on Inflation/Audit
July 21st, 2009 3:03 pm | by Marc Gallagher | Published in Banking, congress, Debt, Economics, Federal Reserve, government spending, inflation, Money, Ron Paul | 8 Responses
During the hearing we’ve been following today Bill Posey used his time to continue the same line of questioning that Ron Paul began with Bernanke.
He begins by discussing the definition of inflation and then elaborates more on an audit of the Federal Reserve. Bernanke continues his decidedly illogical argument that knowing what the Fed is doing is the same as directing the Fed on monetary policy.
Of note is that Posey uses Judge Napolitano’s quote repeated on Freedom Watch over the past few weeks: “We know more about what the CIA is doing than the Fed”.
Loading ...
July 21st, 2009 at 8:14 pm (#)
Bernanke is dumb! FRACTIONAL RESERVE SYSTEM..IT WONT SIT IDILEY!!!!!!!!!!!! IDIOT!
July 21st, 2009 at 10:30 pm (#)
Bernanke is visibly shaken by the audit questions.
July 21st, 2009 at 10:32 pm (#)
money used to ROB St. PETER— will SOONER OR LATER—- PAY St.PAUL– and then off to vegas St. PAUL goes—- then whatch it get sucked in alright……. straight into the black whole that is our economy……
SMOKE AND MIRRORS BULLSHIT
July 22nd, 2009 at 1:17 am (#)
Don't under-estimate the power of Bernanke and the FED. This fight is not over. We must let our representatives know that "WE want the audit, or THEY won't be there next year".
July 22nd, 2009 at 1:48 am (#)
Bernanke is shaken because he is lying through his teeth!!! He knows that if the monetary policy is audited everyone will realize all of the manipulating that they have been doing goes far beyond what anyone imagines.
July 22nd, 2009 at 2:00 am (#)
Way to get him against the ropes, Posey! Thanks for following Ron Paul's (and Napolitano's) lead!
July 22nd, 2009 at 3:52 am (#)
[...] this 5 minute video, watch Rep. Bill Posey (R-FL) question FED chairman Ben Bernanke on auditing the monetary policy of [...]
July 22nd, 2009 at 3:42 pm (#)
What a second, I thought I had a pretty clear understanding of how loans work, even bogus "loans" FROM the Fed TO member banks. Did I hear Bernanke correctly at roughly a minute thirty two that the FED PAYS(!) interest TO the banks holding the reserves??? What? I wish my bank would pay ME interest on my mortgage. He doesn't even know what he is saying. First, if this is true, then what do the banks do with the interest they are paid? Continue to hold it in reserve? No, it has to go somewhere, bottom line profit, which then gets paid out in salaries / bonuses, which is MONETIZED, or, loaned out, which is also, MONETIZED. And if he is just talking out of his arse (probably) and the banks PAY THE FED interest (what you're supposed to do on a loan), then if they don't loan the money out to get a return, it is a money loser for them! See how he tries to confuse and daze you with circular nonsense?