Ron Paul speaks to Ben Bernanke on the Bailout Bullshit...
eekamouse
Posts: 267
Love is more important to me than faith.
Post edited by Unknown User on
0
eekamouse
Posts: 267
Comments
That being said i'd actually cut Bernanke some slack on this particular response.
He did answer most of those questions.
To be totally fair, Bernanke has been VERY quick to admit the historical shortcomings of the Federal Reserve, particularly with respect to policy during the Great Depression.
Of course he is either totally naive, or totally dishonest, to suggest that the Fed would not have similar shortcomings now or in the future.
With respect to the question of constitutionality, i think Bernanke said about as much as he could say without getting himself in trouble.
He is correct in what he said, the congress gave the Fed the authority with the Owen-Glass bill of 1913.
The only further question then becomes, is the act CONSTITUTIONAL.
Of course, The US Supreme Court has never ruled on that matter, and thus why Bernanke simply said, "of course, if you disagree with that bill, its another matter" .... hint hint, "if you think it's unconstitutional, you might be right, but the court hasn't ruled on it, so nya nya boo boo."
And obviously he did "dodge" the part about direct constitutional authority for a body OTHER than congress to "regulate coin", or the direct authority for the congress to sign over its own listed explicit grants of power.
:(
If I opened it now would you not understand?