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Bernanke Stutters, Stammers And Shakes His Way Through Questions On Audit The Fed Bill

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posted on Jul, 29 2009 @ 04:12 PM
I don't like quoting such large blocks, but wanted to capture published record of Bernanke's direct quotes.

Federal Reserve chairman Ben Bernanke appeared incredibly nervous during an interview aired last night on PBS’ NewsHour, particularly during a question on the ongoing effort to pass legislation that would see the Fed’s books being opened up to a general audit.

In a display that will greatly encourage those who continue for push for greater transparency of the privately run Fed’s actions, Bernanke stammered and stuttered his way through the interview, his voice shaking as he attempted to rail against calls to audit the Fed, reciting now familiar and standard lines of propaganda.

“There’s an effort in Congress, and in the House in particular, to audit what the Federal Reserve does, particularly in monetary policy. How do you feel about that?” asked PBS’ Jim Lehrer.

“So that bill, people don’t fully understand what that bill is about. It sounds like, audit the Fed, it sounds like ‘Let’s look at the books.’ That’s what it sounds like.” Bernanke spluttered.

Clearly flustered and sounding very unconfident, Bernanke continued:

“What people don’t understand is that this bill would give the GAO, the GAO, the authority to audit monetary policy. And what does that mean? That means if the Federal Reserve decided a year from now that because of incipient inflation it was time to raise interest rates, that the Congress would say, ‘Ah, the GAO’s going to audit that decision. It’s going to subpoena your materials. It’s going to demand information from members of the FOMC. It’s going to evaluate your decision. It’s going to report to Congress.’ I don’t think that’s consistent with independence.” Bernanke said.

See the Video Yourself

posted on Jul, 29 2009 @ 04:38 PM
"I dont think that is consistant with independance"....
How about geting your bank account plundered or loosing half of your 401k? is that consistant woth independance??? Bernake wouldn't know independance if it bit his leg off. This guy is a fool!

Check the name!!!


posted on Jul, 29 2009 @ 04:39 PM
Wait a minute, the excuse is that the fed will lose power over how they scam us with their monetary policies?

And that is why he is afraid of the role of an audit?

It makes no sense.

[edit on 29-7-2009 by marg6043]

posted on Jul, 29 2009 @ 04:44 PM
Sounds like he is twisting the reality of the audit. I believe the purpose of the bill (HR1207) is to see where the money is going. Not to make decision for the fed. They should not be so independent that they are above the law and can decide the fate of America without proper oversight.

[edit on 29-7-2009 by cloakndagger]

[edit on 29-7-2009 by cloakndagger]

posted on Jul, 29 2009 @ 05:03 PM
Wow! Bernake's really, really scared.
The look on the interviewers face says it all: he's completely puzzled that this guy seems to be on the verge of a nervous breakdown.

The real question is who's he so afraid of:

The American people if they find out what they've been doing with the money?

Or whoever he answers to should he fail them?

My money's on the latter

posted on Jul, 29 2009 @ 05:12 PM
reply to post by MrVertigo

I think he is actually more angry than scare, how dare this people in government to question his role and authority within the fed.

How dare anybody take the Federal Reserve for granted, how dare them, they can collapse the economy in a blink of the eye. Right?

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