Big, BIG, BIGGER lies.

“Read my lips. No new taxes.”

“I did not have sexual relations with that woman, Miss Lewinsky.”

Bernanke on 60 Minutes March 15, 2009:

PELLEY: Is that tax money that the Fed is spending?

BERNANKE:  It’s not tax money. the banks have– accounts with the Fed, much the same way that you have an account in a commercial bank. So, to lend to a bank, we simply use the computer to mark up the size of the account that they have with the Fed.   So it’s much more akin to printing money than it is to borrowing.

PELLEY: You’ve been printing money?

BERNANKE: Well, effectively. And we need to do that, because our economy is very weak and inflation is very low. when the economy begins to recover, that will be the time that we need to unwind those programs, raise interest rates, reduce the money supply, and make sure that we have a recovery that does not involve inflation.

Flash forward to Bernanke on 60 Minutes December 6, 2010:

We’re not printing money.” (minute 6:25)

Quote in context:

“One myth that’s out there is that what we’re doing is printing money. We’re not printing money. The amount of currency in circulation is not changing. The money supply is not changing in any significant way. What we’re doing is lowing interest rates by buying Treasury securities. And by lowering interest rates, we hope to stimulate the economy to grow faster. So, the trick is to find the appropriate moment when to begin to unwind this policy. And that’s what we’re gonna do.”

Bernanke’s interview is full of one lie after another.  What a loser.

Only a jackass would swallow the “We’re not printing money” bit. He is printing money and therefore making every dollar I hold worth less.  He saved the big banks by taxing the middle class taxpayer with inflation.  He’s an unelected usurper of my financial rights.

END THE FED!

(For those skeptical that the Fed is printing money to pay of the national debt read this.)

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One response to this post.

  1. Posted by Duckduckchicken on December 14, 2010 at 11:41 pm

    Yeah bernankes a big jackass, a even bigger jackass, the biggest jackass. He’s making all my savings for retirement worth less and less. Biggest jackass doesn’t do it justice. He is the king of all jackasses. All hail king bernanke the gigantic jackass

    Reply

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