What Ben Bernanke is telling Congress about Ron Paul’s Fed audit plan

August 3, 2009

This bit from the WSJ‘s interview with John McCain caught my eye:

“You have no idea the pressure I was under,” he says. “I remember being on the phone with President Bush, Vice President Cheney, the Treasury secretary and [Fed Chairman Ben] Bernanke. They assure me the world financial system is going to collapse if I don’t vote for the bill. So I do the impetuous and rash thing by saying, look, I have got to go back to Washington and see how I can help. And by the way, so did Obama—but it was McCain that was the impetuous one. Obama came back to Washington.” Mr. McCain grumbles, “He was at the White House with me. But he wasn’t impetuous.”

Me: I can tell you that Ben Bernanke is pitching a line to key congressional members in private about Ron Paul’s Fed audit bill that is not too dissimilar to what he told Congress back in the fall of 2008.  Except back then he was saying failure to pass TARP would kill the economy. Today, it is the passage of a bill that would kill the economy, the Fed chairman says.

8 comments

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Pay no attention to to that little man behind the curtain, only I the great OZ can know the secrets of our financial system!

This is the line we are supposed to buy? Humbug!!

Posted by Alfred Montestruc | Report as abusive

I’m fear mongered.

Posted by yoikes | Report as abusive

methinks he doth protest too much. What will really kill the economy is the price inflation Bernanke and Co. will be unable to stop due to the monetary inflation they have already created and are continuing to create unabated.

Posted by Brian | Report as abusive

Just the fact that if congress knew that what the fed is doing and that caused the economy to further tank. Doesnt this strike anybody capable of critical thinking to question the fed? How can we continue to support a private entity that has to much control in a our republic?

Posted by bob barker | Report as abusive

FOCUS in on the OP-ED and his history track pattern:

Anyone who;s an investor, like dialog on Market-Ticker Forum knows the Propaganda by the Media, especially this clown who been printing Anti-Audit FEDERAL RESERVE article one after another.

Here’s this Shill’s background:

Another CNBC Bobblehead… and we all know how Jeffery Immelt(GE/NBC CEO and on Obama’s economic fiscal team) has giving marching orders to FOOL the Public with Economic Propaganda. Oh, but it get’s even better. Quote:
“…graduate of Northwestern University”

Your Chicago Corruption Connection to Keynesian Kook Economics (NWU) and Cronies of Chicago Liberals, Barack Obama, Rahm Emanuel, et al

The Usual Suspects… I love GOOGLE, it’s easy to find this shills true colors! (CNBC)Obamanomics, Federal Reserve Lobbying and the huge coordination of the FED, US TREASURY Cronies(Goldman Sachs Alum), MSM, and the FED Lobbyists. They are trying very hard to keep the Money Machine for Banks and Government SECRET.

http://www.cnbc.com/id/24731756 <=== Shill Pethokoukis

Question EVERYTHING these MSM clowns whipup with their keyboards!

Posted by John Mayard Keynes | Report as abusive

Give me control of a nation’s money and I care not who makes the laws – Mayer Amschel Rothschild

Posted by Tim | Report as abusive

Why don’t Limbaugh and Hannity support auditing the Fed?

http://fedupbook.com/blog/federal-reserv e/why-dont-limbaugh-and-hannity-support- bill-to-audit-the-fed/

Because like Pethokoukis, they think that the same Ivy League economists that got us into this financial mess will somehow miraculously, via Fed non-transparency, get us out of the mess when it is the Fed’s actions that got us here and are making matters worse.

But what about this Federal Reserve? Could it be that Pethokoukis, like Limbaugh and Hannity, is also a neoconservative, war loving “New” Republican with an agenda of keeping the Fed in business so they can go about their imperialistic ways?

Here’s what Pethokoukis wrote:

Iraq

http://www.usnews.com/blogs/capital-comm erce/2007/11/14/is-the-iraq-war-costlier -than-doing-nothing.html

Iran

http://www.usnews.com/blogs/capital-comm erce/2009/01/27/iran-nuke-nuclear-weapon s-material-this-year.html

and Pethokoukis doesn’t understand gold either:

http://www.usnews.com/blogs/capital-comm erce/2007/09/25/inflation-gold-and-iran. html

Audit the Fed. Over half the House and 75% of the People want it. Give the Peole what they want!

We’re asking for a simple audit and Bernanke thinks the economy is going to collapse.. again. It’ll surely collapse if he has anything to hide.

Unelected.org!