Saturday, September 29, 2012

Bernanke Sent Out 'Thank You for Supporting Federal Reserve Secrecy' Letters to Key Congressmen


In July, the Fed chairman sent thank you notes to five Democratic members of Congress after they delivered speeches on the House floor urging fellow lawmakers to reject Ron Paul's “Audit the Fed” bill, reports Politico.


Dated July 26, the notes were written the day after the House voted 327-98 to pass Paul’s bill, which would authorize the Government Accountability Office to audit how the central bank implements monetary policy.



“While the outcome of the vote was not in doubt, your willingness to stand up for the independence of the Federal Reserve is greatly appreciated,” Bernanke wrote in the letters, which were obtained by Politico through a Freedom of Information Act request.

He continued, “Independence in monetary policy operations is now the norm for central banks around the world — and it would be a grave mistake were Congress to reverse the protection it provided to the Federal Reserve more than 30 years ago.”

The letters were sent to Reps. Barney Frank, Elijah Cummings, Melvin Watt, Carolyn Maloney and Steny Hoyer.

7 comments:

  1. that was nice of him, he's a standup guy.

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  2. Whether those letters are legal or not I don't know, but it is unseemly that that head of the supposedly apolitical Federal Reserve is lobbying against the "Audit the Fed" legislation.

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  3. And here I always thought it was the Republicans that were the party of the wealthy banking elites. Frank of course has always been a big time banking crony.

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  4. "......and it would be a grave mistake were Congress to reverse the protection it provided to the Federal Reserve more than 30 years ago.”

    Translation: The citizens won't be happy if they ever wake up and realize how my friends and I have destroyed their lives for our personal gain.

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  5. I bet Barney Frank got a little boy blow up doll so he can rape as he did the public.

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  6. "The letters were sent to Reps. Barney Frank, Elijah Cummings, Melvin Watt, Carolyn Maloney and Steny Hoyer" - I HOPE THEY ALL GET A PINK SLIP NEXT ELECTION!

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  7. That seems like the dent that's going to take whatever shine the Fed has left in it. It's too open to interpretation, and how people see it can actually affect monetary movements worldwide.

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