During his questioning of Federal Reserve Chairman Ben Shalom Bernanke before the House Financial Services Committee, U.S. congressman Alan Grayson (D), representing Florida's 8th congressional dis...
During his questioning of Federal Reserve Chairman Ben Shalom Bernanke before the House Financial Services Committee, U.S. congressman Alan Grayson (D), representing Florida's 8th congressional district (Orlando, Ocala, Eustis), burst out laughing at Bernanke's hubris. (21 July 2009)
Grayson's questioning focused on the Fed's handouts to FOREIGN central banks in Europe and other countries. These "Central Bank Liquidity Swaps" rose from a total of $24 billion at the end of 2007, to over $553 billion by the end of 2008.
Grayson: "So who got the money?" Bernanke: "Financial institutions in Europe and other counries." Grayson: "Which ones?" Bernanke: "I don't know." Gryson: "Half a trillion dollars and you don't know who got the money?"
It gets even better.
3:02 - Grayson: "Well, look at the next page [in Bernanke's written report], the very next page has the U.S. dollar nominal exchange rate, which shows a 20 percent increase in the U.S. dollar nominal exchange rate at exactly the same time that you were handing out half a trillion dollars. You think that's a coincidence?" Bernanke: "Yes." Grayson: "hah-hah-hah-hah!"
And really, can Ben Bernanke possibly be so ignorant of the history of the institution that he heads not to know what year the Federal Reserve Act was passed (under very shady circumstances) by the U.S. congress?
Anyone who is interested in the nefarious origins of the Federal Reserve must read the great book by G. Edward Griffin, "The Creature from Jeckyll Island."
Like to rate videos and let people know what you think?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
Like to share videos with friends?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
This video has been removed from your Favorites. (Undo)
Like to Favorite videos and let people know what you think?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
as soon as a congresman sighns a pice of legislation that he has not red, he no longer represents the people! he now blindly represents the intrests of the bill. thay should be removed to find a true representitive of the people
I OWN 2 homes-one here, one overseas. People didn't listen to their elders when they told stories of the great depression here in the U.S. Live below your means people that is the only way. I ONLY buy what I can pay for outright never with plastic death...
But he is appointed by the head over Government.The President..The 7 members of the board of Governors of the Federal Reserve are appointed by the President and confirmed by the Senate..Although not a Government entity they have more of hand in it than FEDEX ;)
The Federal Reserve is a rigged game. Ezra Pound commissioned Eustace Mullins to reserach the Federal Reserve. He wrote: "The Secrets of the Federal Reserve." In it contains the truth about the Federal Reserve, plain as day for all to see. Mullins-eccentric in some respects, some views unusual, and hard to understand; is essentiall correct. He has been socially harrassed since he wrote it! His mentor: Ezra Pound, assigned to a mental hospital!
Really?If the answers are obvious Bernanke doesn't know them... Who got the money? "i don't know"..Thats an obvious answer..They gave out a trillion dollars to 14 central banks and Bernanke cant name one of them..
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
Go Grayson!!
He also have several years working as a economist in a resected firm before he went back to Havard 2 get that law degree