Federal Reserve will not help legislators by printing money to pay for the ballooning federal debt

[bcassill]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

"With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt."

Nothing for you folks in Congress though we are more than willing to turn on the money spigot for our friends on Wall Street and relieve them of all those "little" mistakes they have on their balance sheets (i.e. CDO's, MBS's, CDS's, etc., etc.) and back them with the full faith and credit of the United States government. However, the folks in Congress are equally complicit and know full well what is going on. Then again, maybe they don't and believe in the magical power of the printing press to create all the money they need out of thin air.

However disingenuous Bernanke might be, he is right on the money with this one. The coming rise in interest rates will crush the developed world's continued ability to borrow their way out of this crisis which is simply putting off the inevitable adjustment in worldwide asset prices. At that point, we either go into a deflationary spiral or go hyperinflationary both of which will likely do the same thing to relative prices in the end.

[mikedev10]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Did anyone else see or hear this hearing?

Ron Paul, what was the point of this line of questioning?

He's making it too easy for everyone else to classify him as a kook.

if you want i'll dig around for a link that references the things he is mentioning. i think he was basically trying to note the need for an audit because we don't know everything these guys dabble in.

[Crazyfingers]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Been following the good Dr. Paul for awhile. He is starting to get bolder. He realizes how urgent it is. Things are moving fast in this country and he knows it. The Neocons and Democrats want him to seem Kooky and crazy but the *proof is in the pudding*

Robert Auerbach is backing Ron Paul on this. Look at this dudes' resume!

Robert Auerbach is Professor of Public Affairs at the Lyndon Baines Johnson School of Public Affairs, The University of Texas at Austin. He was an economist with the House of Representatives Financial Services Committee during the tenure of four Federal Reserve Chairmen: Arthur Burns, William Miller, Paul Volcker, and Alan Greenspan. Auerbach also served as an economist in the U.S. Treasury's Office of Domestic Monetary Affairs during the first year of the Ronald Reagan administration and as a financial economist with the U.S. Federal Reserve System. Auerbach has been a professor of economics at the American University in Washington, D.C. (1976-83), and a professor of economics and finance at the University of California-Riverside (1983-93). He has written numerous articles, and two textbooks in banking and financial markets. He received two Masters degrees in economics, one from the University of Chicago and one from Roosevelt University, where he studied under Abba Lerner, and a Ph.D. in economics from the University of Chicago, where he studied under Milton Friedman

Statement entered into the congressional record by Ron Paul, 2/25/10

The Federal Reserve under the chairmanship of Author Burns not only kept the Fed from getting entangled in the Watergate coverup, which the Fed's actions had assisted, it allowed false statements about bills the Fed knew were issued by the Philadelphia Fed Bank to stand uncorrected. Blocking information from the Senate and House Banking Committees [letters shown in my book, Chapter 2] and issuing false information during a perilous government crisis imposed huge costs on the public that had insufficient information to hold the Fed officials accountable for what they had withheld from the Congress. Had the deception been discovered the Fed chairmen following Burns may have been forced to rapidly implement some real transparency to restore the Fed's credibility. That would have reduced or eliminated many of the lies, deceptions, and corrupt practices that are described in my book.
The second subject brought up by Congressman Ron Paul is the exposure of faulty examinations of the Federal Reserve of a foreign bank in Atlanta, Georgia through which $5.5 billion was sent to Saddam Hussein that a Federal Judge found to be part of United States active support for Iraq in the 1980s.

[Slimprofits]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

for the record, I don't think he's a kook. far from it - a long time supporter with dollars from my homes to his congressional campaigns in fact.

I was talking about how "they" will make him look.

However I think this dude is right and Paul is just trying to get the stuff on the public record. He's not going to run for President again. There was one chance. The window was open. And now we have the GOP co-opting his themes and merging them with the Palin / Beck teaparties, etc.

[Crazyfingers]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Michael Moore in an interview laughingly stated that the corporate world ran by the same bozos that he was blasting, would show his movies and parade him around. They were oblivious to what his message was, they just cared that he brought in ratings and profits.

IMHO Dr Paul is starting to exploit the same greed. Fox News and the other news media bring him on their shows more and more because of RATINGS! He can now reach millions of viewers not just thousands. Dr Paul is playing with fire. He is opening the curtain for all to see.

There's been a coup, have you heard?

There's been a coup, have you heard? It's the CIA coup. The CIA runs everything, they run the military. They're the ones who are over there lobbing missiles and bombs on countries. ... And of course the CIA is every bit as secretive as the Federal Reserve. ... And yet think of the harm they have done since they were established [after] World War II. They are a government unto themselves. They're in businesses, in drug businesses, they take out dictators ... We need to take out the CIA.

[ThePythonicCow]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Dr Paul is playing with fire. He is opening the curtain for all to see.

There's been a coup, have you heard?

Wow - great find. Thanks.

Yes. Dr. Paul is playing with fire. I wish him well.

I'm just about finished reading JFK and the Unspeakable: Why He Died and Why It Matters, which I have recommend. Good book. It has many details of this coup. Since that day in Dallas on November 22, 1963, no U.S. President has dared get too far out of line.

[sishya]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

They will not print and continue to obstruct until another friendly fascist is elected - such as Jeb Bush.

The mid terms are a huge opportunity to elected another 20-30 fascists into congress.

I hope not, but I fear Americans are still asleep and retarded and so will get sucked into electing more scumbags by all the wall-street campaign money that will hit CNBC, Fox news for the mid-terms.

FED has already printed money and now in Banks
hand sitting as a Trillion dollars reserves. How do
you think the asset side of FED have grown to
2 Trillion dollars ?

Both Political parties are in the hands of the moneyed
interest. An inflation helps mostly asset holders(real
estate) and then debtors. The savers and retirees are screwed

[orion]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

"With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt."

Nothing for you folks in Congress though we are more than willing to turn on the money spigot for our friends on Wall Street and relieve them of all those "little" mistakes they have on their balance sheets (i.e. CDO's, MBS's, CDS's, etc., etc.) and back them with the full faith and credit of the United States government. However, the folks in Congress are equally complicit and know full well what is going on. Then again, maybe they don't and believe in the magical power of the printing press to create all the money they need out of thin air.

Great comment, oh what a tangled web they have weaved ...

[Raz]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Why would ANYONE believe anything Bernanke says?

He's a lying stooge for the owners of the Federal Reserve: the Banksters.

[media]


[/media]

[ThePythonicCow]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Why would ANYONE believe anything Bernanke says?

Raz -- your attempt to embed some YouTube video failed.

[Raz]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Raz -- your attempt to embed some YouTube video failed.

So it did, my bovine friend!

I played it after embedding it (as a preview of my post), then someone knocked on my front door and I hit the Submit button as I headed downstairs.

I don't know why it failed? :confused::confused:

[Raz]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

I've copied and pasted, wrapped it with media tags, all to no avail.

How do I get it to embed?? :confused:

[Sharky]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Keep in mind that the Fed's main purpose is not to fund government programs or to keep unemployment low or interest rates low, or anything like that. Their purpose is to protect the large banks. Seen in that light, Bernanke's actions make complete sense, and his future actions become much more predictable.

[GRG55]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

Keep in mind that the Fed's main purpose is not to fund government programs or to keep unemployment low or interest rates low, or anything like that. Their purpose is to protect the large banks. Seen in that light, Bernanke's actions make complete sense, and his future actions become much more predictable.

No, no, no. You clearly aren't listening to the Dear Leaders of the USA. The Fed is your friend [even when you live in the southern hemisphere ;)]. Chris Dodd sez it's there to protect consumers...:rolleyes:

...The Obama administration’s proposal for a consumer protection agency is part of the biggest overhaul of financial regulation since the 1930s. Putting it inside the Fed, instead of creating a standalone bureau, was a compromise proposed by Senator Bob Corker, a Tennessee Republican, and Banking Committee Chairman Christopher Dodd, a Connecticut Democrat...

When Bloomberg, of all things, starts printing headlines like this, you know the word is really starting to get out. I simply cannot imagine Bloomberg being so cheeky during the boom years...

Consumer Agency Within Fed Seen as Victory for Banks

[ThePythonicCow]

Re: Federal Reserve will not help legislators by printing money to pay for the ballooning federal de

I've copied and pasted, wrapped it with media tags, all to no avail.

How do I get it to embed?? :confused:

The Media Tags don't work for YouTube videos. They are not even supposed to work for them. Media Tags work with file formats such as pdf files.

For YouTube videos, cut and paste the "Embed" string from the YouTube page for that video directly into your post. Here's a screen shot of a snippet from a YouTube video page showing that "Embed" string (shown below the "URL" string, useful for sending email links of video links you like to friends.)

The whole string (starting with the "<object width=425" fragment you can see above) is over 400 characters long. Get the whole thing or it won't work. Just paste it right into your iTulip post, without any fancy Tags surrounding it.

Usually I can help out by responding to such a mangled YouTube video post by finding the intended YouTube video in the entrails of the failed post and respond with a post that displays the video correctly. But somehow you managed to mangle the YouTube video link well enough in your post that I couldn't figure out which video you had in mind. So all I could do was complain .