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View Full Version : Ben Bernanke running scared




daviddee
11-28-2009, 02:29 PM
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RSLudlum
11-28-2009, 02:35 PM
More and more everyday the Fed looks like a private corp trying to defend it's image and 'business' practices.

bossman068410
11-28-2009, 03:16 PM
Now more than ever, America needs a strong, nonpolitical and independent central bank with the tools to promote financial stability and to help steer our economy to recovery without inflation.

Sick

raiha
11-28-2009, 04:08 PM
Many studies have shown that countries whose central banks make monetary policy independently of such political influence have better economic performance, including lower inflation and interest rates.

Independent does not mean unaccountable. In its making of monetary policy, the Fed is highly transparent, providing detailed minutes of policy meetings and regular testimony before Congress, among other information. Our financial statements are public and audited by an outside accounting firm; we publish our balance sheet weekly; and we provide monthly reports with extensive information on all the temporary lending facilities developed during the crisis. Congress, through the Government Accountability Office, can and does audit all parts of our operations except for the monetary policy deliberations and actions covered by the 1978 exemption. The general repeal of that exemption would serve only to increase the perceived influence of Congress on monetary policy decisions, which would undermine the confidence the public and the markets have in the Fed to act in the long-term economic interest of the nation.
Which studies? Where?

Kap
11-29-2009, 10:15 PM
"These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States. "

While I'm not suprised by any means, it's interesting to see Ben Bernake's thoughts on this. He doesn't care about the American people who bailed out those banks, but he does care about his international banking friends.

Chester Copperpot
11-29-2009, 10:41 PM
More and more everyday the Fed looks like a private corp trying to defend it's image and 'business' practices.

+1

Theocrat
11-30-2009, 05:09 AM
I don't think Ben Bernanke is running scared. He's just trying to gain the public's confidence and support in the Federal Reserve's system, especially since more eyes are being turned towards his curtain. Oh, how deep are the "Secrets of Oz..." (http://www.secretofoz.com/) ;)