Comments on: Candidate Bernanke hits the campaign trail http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/ Politics and policy from inside Washington Tue, 14 Oct 2014 12:57:43 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Chris http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-982 Sun, 02 Aug 2009 02:06:38 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-982 Andrew:

It’s coming whether you like it or not. Right or wrong, the train of the past has left the station. Your side will lose. One is either on the train, or on the sidelines with railroad track markings on their back.

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By: Skip http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-946 Fri, 31 Jul 2009 19:31:17 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-946 Dear James,

Stop by the Fed later today and pick up your check. You know, the one for the undeniably stupid article you wrote for Reuters today: “Ron Paul’s Fed plan is economic suicide.”

As always, brilliant pom pom laden statist types like you are forced to offer a much more muddled perception of the Fed’s thievery than the American people rightly possess. Such journalistic whoring is a part of your DNA.

Forget Humphrey-Hawkins, the Fed has operated where it desires to, in total secrecy. In stealth fashion, these elitist bankers have systematically destroyed the dollar, the American economy and protected it’s inside lackeys like Goldman, JP Morgan and others. Toss in the tech collapse and the housing bubble and I think there is ample reason to expose America’s taxpayers to Fed’s disgusting behavior.

Once the light is shined in the corn crib and the rats are forced to scatter like hell, the percentage of Americans who think the FED should be audited will rocket close to 100.

But of course central bank apologists like you will continue to pretend you know so much more. Get a life and tell the truth.

Pass HR 1207 and S604. It will be a promising beginning to a prosperous ending.

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By: troy http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-873 Tue, 28 Jul 2009 20:59:04 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-873 Bernanke isn’t campaigning for himself. He is lobbying to keep the Fed approval rating from dropping any more than it already has. Banks were giving easy credit because the Fed artificially set interest rates low in the first place. Credit expansion is currently controlled by of the Fed.

The bubble was created by the Fed. Read: This is the Fed’s doing.

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By: Gary http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-870 Tue, 28 Jul 2009 11:55:18 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-870 LOL – ignorance is not bliss, so let’s correct all of the ignorance here.
1. Hank Paulson was not Fed Chairman, he was Sec’y of Treasury
2. Tim Geithner nor Ben Bernanke ever worked for Goldman Sachs (as if it would matter if they had)
3. The Fed is in charge of monetary policy (that is controlling the supply of money and credit in the economy)
4. The Treasury is in charge of raising funds and managing the cash flow of the federal government
5. Congress and the President are responsible for the federal budget and the deficits therein

OK, now, “Discuss”

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By: Scot Sterenberg http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-868 Tue, 28 Jul 2009 08:02:10 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-868 Helicopter Ben needs close the pie hole and go back to the office and try to figure out how he’s going to shrink the feds balance sheet without causing a s storm. He and his fellow central bankers in the world need to stop “supporting” govt debt auctions and let this market actually correct itself. This false sense of stability is only delaying the pain and will certainly lead to a double dip recession.

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By: joe http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-865 Mon, 27 Jul 2009 23:34:16 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-865 And by the way. Banks are only as strong as its depositors. Now banks are now paying only a quarter of one percent per year in interest. This is a disgrace when one considers that inflation at about five percent a year means that 5- .25 = four and three quarters percent is what you are paying TO the banks to keep and to squander your money. Far better if you, all of you, would go to your banks and take all your money out. After all, the only thing ‘protecting’ your money is a really empty promise by the federal government to make you whole when the bank fails cuz it bought too many derivatives at the wrong time with your money. The Federal Deposit Insurance Corporation can make whatever promises it wants and Congress will let it about how great a sum it will make good in case of bank failures. The fact is, however, that the FDIC is underfunded to the tune of many billions of dollars, and the same Congress and President that said a quarter of a million was covered was the same one that refused to fully fund the FDIC. In truth, the FDIC funding is like designing dams and levys…you fund for disaster that you ‘realistically expect’. Three years ago, the present Great Depression redux of 1929-1940 was not even dreamed about in Bush’s nightmares. Take your money out of all the banks….while you still can!

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By: joe http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-864 Mon, 27 Jul 2009 23:22:25 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-864 The federal reserve was set up in 1913 by a special act of the national legislature called the Federal Reserve Act of 1913. It has thirteen governors that meet in secret to set monetary policy for the country. They are accountable to no one, and can only be removed for specified causes by impeachment by large majorities of both houses of Congress. They are a law unto themselves. The ghost of the old Baron Rothschild must laugh at out predicament. Remember it is he who said: “Let me set monetary policy for a nation and I care not who writes or approves of its laws.

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By: Jimbo http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-863 Mon, 27 Jul 2009 22:58:16 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-863 Personally the only one I trust on Obama’s economic team is Sheila Bair. Bernanke and Geithner are both ex Goldman Sachs players. My opinion of Goldman betting against the poorly rated mortgage bonds it sold and bidding up the spot price of oil through future’s bidding, cashed out earlier future contrcts and made a killing when oil went to $140. That is price manipulation and against the law as seen by the Hunt brothers when they manipulated silver’s price. Whatever they do will be good for the banks, but will it be good for Main Street?

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By: Andrew http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-862 Mon, 27 Jul 2009 22:26:32 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-862 Bryan Borenstein:

You need to read up on your knowledge of the federal government. The Federal Reserve has nothing to do with the federal budget. The Federal Reserve has no say or control over the federal budget in any way – Congress has all of the power. And if you suggest the Fed might “punish” the government by raising it’s lending rates, that’s absolutely absurd as this would also be akin to suicide.

The Economic Theory of Ron Paul provides endless entertainment to actual economists.

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By: Dusan G. http://blogs.reuters.com/james-pethokoukis/2009/07/27/candidate-bernanke-hits-the-campaign-trail/comment-page-1/#comment-860 Mon, 27 Jul 2009 21:38:58 +0000 http://blogs.reuters.com/james-pethokoukis/?p=1235#comment-860 Do not tell us the any presidents chooses Fed’ chairman.

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