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chrsswtzr
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« on: May 05, 2009, 08:54:00 PM » |
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Topic = STATE OF THE ECONOMY, Interest rates on Credit Cards
***NOTE: I tried to type as quick as I could in real-time while watching/listening to C-SPAN so this is just paraphrased and not word-for-word or exact, but the gist is right on the money. I haven't taken anything out of context or embellished anything. This is just some key parts of the session, and the most I could type without my hands cramping lol***
SOME CHICK SEN (sorry didn't get the name): Firstly, I didn't vote for the TARP, nor have I ever supported this. There are trillions of dollars just 'floating' out there with you people spending, can you talk on that?
BEN BERNANKE: We have lots of tools we can use and its important for us to get support but at the same time we understand the necessity of winding this down at the appropriate moment. There is a problem both in the Bank's perspective and the economy's perspective, and we have to correct it.
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SEN RON PAUL: It was that system that gave us the financial bubble, artificial low interest rates mal investments we're trying to do the same thing and we have to do the same day do something different to solve the problems instead of borrowing and borrowing causing inflations. I don't think the answers you give more will be more specific and I don think Ill get any specific answers. But IM going to try. What if we have a situation where prices are which you know not the best measure in place but the consumer price is going up 8% to 18% where are you then? It happens. In our history it happens. it is a common thing. If you drain interest you have an explosion. Give me and idea what you would if a situation where prices were going up it 10% in economic growth.
BEN BERNAKE: This is the same problem we always face. Which is in a recovery when the economy in is starting to grow and unemployment is still above we have to spike the punch bowl because of the inflation.
SEN RON PAUL: This is leading to a socialist economy. We are taking over companies, taking over insurance companies, taking over banks. Yet we continue down this path on our entire economy. I want to see more transparency. In 1978 the GAO was given the authority to audit -- it put exclusions in there. If I wanted to know about all your agreements with foreign banks, governments. So is there a way that you could show where your money is going, what directions its going. Would you ever be willing to appeal to these provisions?
BEN BERNANKE: We have a substantial oversight committee. We have a clean bill of health with all our financial controls., we meet sarbanes-oxley requirements. I want to be very careful with this.
SEN RON PAUL: Its the policy that really counts *laughs to himself in disgust*
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Ben Bernanke is such scum.... NWO scum... what a piece of dirt he is. He dodges questions, gives indirect "fill in the blank" answers, and basically just spews out disinformation. It's disgusting. I'm glad I caught this while flipping through the only channels I watch lately on TV.
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« Reply #1 on: May 05, 2009, 09:04:29 PM » |
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That was only about half of the response from Bernanke. He said that he was open to oversight which surprised the hell out of me. Also the next congressman followed up on Ron Paul's questioning.
This was a breakthrough I thought where Bernanke is actually now positioning himself as an ally of Ron Paul (which he obviously is not) and other congressmen (this one was a democrat) are actually continuing the RP line of questioning.
Ron Paul has 124 cosponsors for an audit of the fed whereas the same proposal a year ago could not muster 1 cosponsor. I believe that at least 17 cosponsors are democrats.
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All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately
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chrsswtzr
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« Reply #2 on: May 05, 2009, 09:07:49 PM » |
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That was only about half of the response from Bernanke. He said that he was open to oversight which surprised the hell out of me. Also the next congressman followed up on Ron Paul's questioning.
This was a breakthrough I thought where Bernanke is actually now positioning himself as an ally of Ron Paul (which he obviously is not) and other congressmen (this one was a democrat) are actually continuing the RP line of questioning.
Ron Paul has 124 cosponsors for an audit of the fed whereas the same proposal a year ago could not muster 1 cosponsor. I believe that at least 17 cosponsors are democrats.
Thanks for adding that, it was very tough trying to keep up with real-time talk, but I did my best to be on target. That's why I said he was spitting out disinformation, because he obviously isn't on Ron Paul's side with audits and Ron's general thoughts on the interest rates and the economy. It's all bullshit, he wants to look good in front of the public eye in front of different crowds of people. You know he'd be singing a far different tune in a room full of Federal Reserve scum lords. *** Bernanke is still being questioned by other Congressman, sorry I didn't say that this was only an excerpt from the session *** |
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« Reply #3 on: May 05, 2009, 11:10:49 PM » |
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Ron Paul Asks Ben Bernanke 5/5/2009 "Would You Repeal Some Of The Transparency Provisions?" http://www.youtube.com/watch?v=zcYWl47pFhI |
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All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately
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hardrain77
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« Reply #4 on: May 05, 2009, 11:17:42 PM » |
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Bernanke tells Ron Paul that he's open to oversight, but that discussing policy is off-limits.
Which Paul replies with a duh, it's the policy that counts, though.
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"Some of the biggest men in the United States, in the field of commerce and manufacturing, are afraid of something. They know there is a power somewhere, so organized, so subtle, so watchful, so interlocked, so pervasive, they had better not speak above their breath."
Woodrow Wilson
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« Reply #5 on: May 05, 2009, 11:24:07 PM » |
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Bernanke tells Ron Paul that he's open to oversight, but that discussing policy is off-limits.
Which Paul replies with a duh, it's the policy that counts, though.
BERNANKE: "You cannot change our policy of enslaving every unborn American citizen for the next 10 generations through deceptive debt creation!" |
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All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately
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chrsswtzr
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« Reply #6 on: May 05, 2009, 11:27:35 PM » |
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If he'd only say what's really on his mind..... that probably STILL WOULDN'T WAKE UP AMERICA!
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qwerty_1
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« Reply #7 on: May 06, 2009, 12:19:15 AM » |
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qwerty_1
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« Reply #8 on: May 06, 2009, 05:17:37 AM » |
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Mike Philbin
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« Reply #9 on: May 06, 2009, 05:36:35 AM » |
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Bernanke: the Fed is privately audited every year.  |
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« Reply #10 on: May 06, 2009, 05:53:15 AM » |
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Bernanke: the Fed is privately audited every year. Yeah by Arther Anderson |
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All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately
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