austrobrady
01-15-2011, 11:16 AM
It will be interesting to see the array of tactics Ron Paul will use to force the Fed to reveal information it would rather not:
1) First is likely to be filling in the gaps on documents related to the (we now know) $12T the Fed lent to banks and large corporations through the emergency programs over the past three years; something about what collateral was accepted for $800B. It will be easy to get the HFC chair to go along.
2) Hearings on this congress' H.R 1207 will happen early on.
3) It will be great fun to see just how Chairman Paul will use his position as timekeeper (he will have unlimited time). Hopefully, we get some freshmen on the committee who will ask tough questions and get a longer questioning narrative than the usual 4 minute statement/one minute response from Bernanke. I keep expecting the members of the DMP subcommittee to be announced soon - what's the holdup?
4) Remember when Paul asked what harm could come of knowing if the Fed funded, Watergate (I think the Hundred Dollar bills were traced back to the Philadelphia FRB)? Why not take idea back *another* thirty or forty years? How could the Fed really argue that deals between foreign central banks (the crux of the system) which occurred in the thirties, forties and fifties will impair its operations in 2011. A pattern could be established to demand to the files on deals the Fed makes with foreign central banks *today*.
What tactics do you think Chairman Paul will use to pry information out of the Fed?
1) First is likely to be filling in the gaps on documents related to the (we now know) $12T the Fed lent to banks and large corporations through the emergency programs over the past three years; something about what collateral was accepted for $800B. It will be easy to get the HFC chair to go along.
2) Hearings on this congress' H.R 1207 will happen early on.
3) It will be great fun to see just how Chairman Paul will use his position as timekeeper (he will have unlimited time). Hopefully, we get some freshmen on the committee who will ask tough questions and get a longer questioning narrative than the usual 4 minute statement/one minute response from Bernanke. I keep expecting the members of the DMP subcommittee to be announced soon - what's the holdup?
4) Remember when Paul asked what harm could come of knowing if the Fed funded, Watergate (I think the Hundred Dollar bills were traced back to the Philadelphia FRB)? Why not take idea back *another* thirty or forty years? How could the Fed really argue that deals between foreign central banks (the crux of the system) which occurred in the thirties, forties and fifties will impair its operations in 2011. A pattern could be established to demand to the files on deals the Fed makes with foreign central banks *today*.
What tactics do you think Chairman Paul will use to pry information out of the Fed?