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NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke, just days ahead of his confirmation hearing, is warning Congress that actions limiting the central bank's independence could prove detrimental to the causes of financial reform and economic recovery.
"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," Bernanke wrote.
Fed chief Ben Bernanke is expected to win confirmation to a second term. But it won't be pretty. The push in Congress to rein in the central bank is gaining steam.
Originally posted by slipknotrules2009
This is a dangerous road but the only way to get rid of the Fed
NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke, just days ahead of his confirmation hearing, is warning Congress that actions limiting the central bank's independence could prove detrimental to the causes of financial reform and economic recovery.
OP
Among the ideas he supports is development of a special bankruptcy procedure for firms "whose disorderly failure would threaten the integrity of the financial system -- to ensure that ad hoc interventions of the type we were forced to use last fall never happen again."
OP
Originally posted by Keymaster1
The Pin Has Been Pulled ( RE: Hand Grenade )
Now, are you fast enough to clear the blast zone?
Remember, look down to my Signature.,
Joe Biden Quote, "Gird Your Loins" (har har)(actually NOT funny)
Will It Go Off, Or Is It A Dud?
Either way, poking a sleeping [(Insert your worst nightmare) in the form of an
Institution that controls our Monetary System], will bring it to at least a semi-consience state, no matter the outcome, WE WILL pay a price (what price/what cost) .
Since we're going to have to pay anyway, we might as well smash the thing into a million pieces, sweep up the pieces, and launch them into the sun! (hope it doesn't hurt the sun!)
On a side-real point, If I were a vindictive psychopathic global elite banking scum, I could think of a lot of ways to mess with a bunch of petty, know-nothing bureaucratic nim-nols', all the while making more dough than any of them could ever imagine, including aquireing everything they own or have ever owned.
But, since I'm not, I thought I might let you all into a line of thinking that just might be plausable, considering it is 'they' who already have done some of the most horrific things imaginable to us already! (use your imagination)
Good Night and Good Luck!