by Smitty
Freedom Works has a great piece on what is among the most crucial issues of our day: Ending the Fed. Couple of quick points, emphasis mine,
Fed Chairman Ben Bernanke is desperate to protect his privileged secrecy. Bloomberg writes that he “argued that revealing borrower details would create a stigma — investors and counterparties would shun firms that used the central bank as lender of last resort — and that needy institutions would be reluctant to borrow in the next crisis.” Helicopter Ben, a nickname he acquired by essentially stating that the government could “defeat” deflation by dropping money out of helicopter, cares more about protecting the reputation of his cronies than letting the American people know where their money is going.
Hey, get stuffed, Bernanke. As far as I can tell, you have just said that fair markets are bad. That transparency==stigma. That we cannot handle the truth. We may need to borrow Nigel Farage to ask the Who Are You? question.
An overwhelming 75% of Americans want a comprehensive audit of the Federal Reserve, according to a recent Rasmussen poll. The calls for a true audit are getting louder and stronger by the day. The fight for transparency is transcending party lines, with fiscal conservatives such as Ron Paul and self-identified Democratic socialist Senator Bernie Sanders working together to remove the Fed’s cloak of secrecy. More Republican presidential candidates are starting to echo Ron Paul’s long held beliefs on the Fed.
I think that an actual look at Bernanke’s shenanigans is going to drive the stake through the Federal Reserve heart. There is just no way under the sun that this bogus distinction for the Federal Reserve, such that “its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government” is thoroughly and completely wrong, as well as counter to the spirit of our Constitution.
More at Zero Hedge. Is there anything more painful than someone refusing to admit that it’s over?
Update: some post-Fed thoughts in U.S. News.




