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View Full Version : NPR on the Fed and Bernanke




Elwar
12-03-2009, 08:16 AM
So I was listening to NPR this morning, I usually listen to it to find out what propaganda Washington is trying to put out for the day.

Today they were talking about the Fed. They brought on a pro-Fed guy and he talked about how the Senators would all talk to Bernanke before the hearings and tell him that he's doing a good job, then go in front of the cameras and chastise him as a show because it's the popular thing to do right now.

My take on this all is that they're trying to set it all up to prop Bernanke up as the Fed chairman who got us through a horrible recession and survived an angry Congress who was calling for an end to the Fed.

This could be why the media is propping Ron Paul up right now focussing on his fight against the Fed. They know that nothing will come of it and when the economy comes back, they can hold Bernanke up as a hero who made unpopular decisions while under attack by Republicans in Congress, but that he stayed the course and in the end they were the right decisions and the Republicans, especially Ron Paul, were wrong.

bobbyw24
12-03-2009, 08:18 AM
NPR Morning Report: Ron Paul Wins A Round By Daniel Costello

Rep. Ron Paul, the Texas Republican and lifelong critic of the Federal Reserve, scored a big win Thursday on Capitol Hill by getting a House panel to pass a bill requiring new reviews of the Fed's interest-rate decisions.

The bill, which is likely to face steep opposition when it goes up for a full House vote, would abolish a longstanding exemption that shielded the Fed from Congressional audits of its monetary policy.

Supporters of the Fed's independence have argued the shields provide crucial insulation from political pressure, which would make it much harder for Fed officials to take unpopular action aimed at heading off inflation.

"If we get the audit and get the books open, make them answer the questions, I am convinced that the American people will be so outraged that then we will have reform of the monetary system," Paul has said.

http://www.npr.org/blogs/money/2009/11/morning_report_ron_paul_wins_a.html