House Financial Services Committee asks Bernake how much power they should give him and when

By Tracy R Twyman

If you want to cringe with embarrassment for your own government, watch C-SPAN’s coverage of Ben Bernake’s testimony today before the House Financial Services Committee.

Everyone asks the same sort of questions. How does the economy work? How much power should we give you? What would you like us to do for you?

Rep. Kenny Marchant of Texas asked Bernake if the Fed was planning on divesting itself of Treasury securities any time soon!

Of course, buying Treasury Securities is one of the main ways they get the money supply out into the system, so divesting themselves of government debt would mean destroying the money supply.

Fox Business opened its shows tonight with an impending audit of the Fed as their top story. It looks like it’s definitely happening, to some extent. But what hope is there with these as our representatives? They’ll just be talked into replacing the Fed with something worse. If they don’t understand what’s bad about it, they can’t fix it.

PLEASE DONATE TO HELP SUPPORT OUR WORK! WE CANT DO IT WITHOUT YOU. THANK YOU!

Tags: , ,

Leave a Reply

The Tyrannicam: Personal Handheld Anti-Tyranny Device

When tyranny strikes, be ready to record and expose it.

Political Pink Slip Postcards: Fire Your Representatives!