Bernanke Threatens Economic Collapse If Fed Audited

June 26, 2009 by  
Filed under News

Ben Bernanke, Federal Reserve Chairman

Ben Bernanke, Federal Reserve Chairman

Representative John Duncan questions Bernanke about Ron Pauls H.R. 1207, Audit the Federal Reserve Act, which is cosponsored by more than half of the Congress.

In the interview Bernanke claims that the Fed is opening up, but then makes the following statement.

“If the GAO audits the operational aspects and makes judgements on their decisions, that effectively becomes a take over of monetary policy by the Congress, a repudiation of the independence of the Federal Reserve which would be highly destructive to the stability of the financial system, the dollar, and our national economic situation.”

That lead me to believe there is some extremely questionable activities going on in the Federal Reserve if Bernanke makes this kind of “threat”.

He is telling Congress they have no right to perform this audit, but remind me what Article I, Section 8 of the U.S. Constitution:

To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States;

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

To provide for the punishment of counterfeiting the securities and current coin of the United States;

You tell me, I think Bernanke is afraid of losing his job and his stranglehold on the American People.  Here’s the video.

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