Wednesday, June 24, 2015

Ben Bernanke in Love

By Thomas DiLorenzo

Former Fed Chairman Ben Bernanke is in love with another man – Alexander Hamilton.  Defending his man’s honor on his personal blog published through his new employer, the left-wing Brookings Institution, Bernanke recently said he is “appalled” that the U.S. Treasury Department is considering removing Hamilton’s mug shot from the ten dollar bill and replacing him with a woman (Bella Abzug? Elinor Roosevelt?  Oprah?  Who knows).

Bernanke makes a case for “the greatest of our founders” on his June 22 blog entry, but in doing so he gets his economics and his American history exactly backwards.  He first praises Hamilton for his part in “creating the Constitution.”  But the plan for the Constitution that Hamilton favored – a “permanent president” who would appoint all state governors who would have veto power over all state legislation – was summarily rejected by the constitutional convention, as was his proposal for a national bank.  Hamilton abandoned the constitutional convention after a couple of days, eventually condemning the actual Constitution that was adopted as “a frail and worthless fabric.”  Some constitutionalist, eh Ben?

Read the rest here.

1 comment:

  1. Read the Hamilton book by Thomas DiLorenzo, and recommend to all readers. Brookings has what is called The Hamilton Project (named after Alexander Hamilton) , so may have struck a sore spot with them and they rolled out Bernanke to carry the water on deep sixing it. Hope Treasury does not recant and go for Jackson. Maybe Lincoln might be a possible? Does this mean paper money is not going bye bye as quickly as many are predicting?