Gee, Bernanke, I’ll take your typical answer here….”I don’t know.”  This is the same type of answer I asked a camper once in my counselor days when he hit another camper in the face. “Why did you hit him?” “Eh, I don’t know.” Way to go, Bernanke! WAY. TO. GO.

dunce1Video here from a friend on Facebook. Can you believe this? The Fed cannot answer where $500 BILLION went to overseas. Asked to name the central banks it went to, which was around 14 as cited by Bernanke in the vid, he cannot do so. He says they’re listed in the document. Then as to answer what banks it went to beyond the foreign central banks, he still cannot provide an answer. What? Here’s a thought, when you go to a review committee have the answers on hand.

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Congressmen Grayson points out brilliantly how the nominal exchange rate of the US dollar went up 20% at the exact same time the half-trillion dollars was lent out to the foreign markets. He questions if it’s really a coincidence and Bernanke with hesitation says yes but you can see him questioning that response on his face. Not a coincidence??? Riiiiiiight.

Grayson also questions the ability for the Federal Reserve to dole out that kind of money to foreign states without the authorization of Congress (a checks & balances requirement) and the response. Oh, the Federal Reserve Act. The date of this legislation you ask? 1913! Gee, think maybe it’s time to pay attention to the laws that may be outdated before you shovel half-trillion dollars of tax payer money out the door???

I’ve never read up on the libertarian idea of getting rid of the Federal Reserve, despite a few mentions in my Neal Boortz collection. Perhaps it’s time to investigate.

Exit question: Did hell freeze over because I never thought the day would come where I would thank god for C-SPAN 3????

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