Comments on: Bernanke's confirmation in doubt

By: Andrew Reynolds

Andrew Reynolds — Fri, 29 Jan 2010 07:15:15 +0000

Typical boilerplate populist claptrap. If you want to criticise the US Fed, then go ahead – I will agree with comments that are accurate. Unfortunately, none of yours have been. Are you even aware of what Coleman is supposed to do? Your laststatement shows a huge gapin your knowledgeof that. She is an auditor and, AFAICS, she is doing what auditors are meant to do.
Again – the Fed deserves to be criticised but none of your arguments so far have been factually based, as I have clearly shown.
The facts are on no-one’s “side” – they are simply facts. So far you have not used any of them.

By: Arjay

Arjay — Thu, 28 Jan 2010 12:58:48 +0000

Coleman is the chief Inspector representing the people.She is more than an auditor.How can you in all conscience protect this criminal organisation called the Fed that works hand in glove with Wall St?

Your own words have defined your alliegence,which does not support the long suffering worker in the USA or here.

By: Andrew Reynolds

Andrew Reynolds — Thu, 28 Jan 2010 05:52:05 +0000

Arjay,
I am no fan of central banking (which you would find out if you have a look at my blog) but I also find Ron Paul’s arguments both populist and simplistic. The views you have expressed here are, in addition, demonstrably wrong as I have shown.
The Fed should be criticised but those criticisms should be factually based.
As for Coleman, she is an auditor. I would suggest you look at the definition of what an auditor does before you imply that the contents of that link show that the Fed is not being transparent.
To make it easy for you, try here: http://en.wikipedia.org/wiki/Auditor

By: Arjay

Arjay — Wed, 27 Jan 2010 04:32:15 +0000

Andrew Reyolds.The US Govt only has members on the board of the privately owned Fed Res.Elizabeth Coleman is the chief inspector for the Govt.Some months she was questioned by Congressman Alan Grayson.She could not account for a $ trillion of tax payers money spent by the Fed. see http://www.youtube.com/watch?v=PXlxBeAvsB8 Cole is the inspector Shultz for the Govt,she seesnothing and knows nothing.

If you know the structure of the Fed so well,then you would agree with Ron Paul that is must go?

By: Andrew Reynolds

Andrew Reynolds — Wed, 27 Jan 2010 01:05:06 +0000

Arjay,
It is a matter of record that it has not passed Congress – merely the House – which is why its name is “HR”. meaning “House Resolution”. This is a non-binding resolution of the House itself, not Congress.
There is also an interesting self-contradiction between your second and third paragraphs. You first state that the US Fed are just “…toady boys…” and then, in the third paragraph you state that the US Fed has real power. Which is it?
In reality, of course, if the bankers had the sort of power that you claim then none of them would ever fail and the problems would never even hit the press. The fact they do and it does means that (IMHO) you are demonstrably wrong.
BTW – I know the structure of the US Fed reasonably well.

By: Stephen Hill

Stephen Hill — Tue, 26 Jan 2010 13:05:54 +0000

I have to agree with Ginja, in this Bernanke could end up the political fall-guy for the poor behaviour of others.

By: Arjay

Arjay — Tue, 26 Jan 2010 08:33:34 +0000

Andrew Reyolds,HR1207 has been passed by Congress and gone through committee.It now is just a matter of legal delays and the machinations behind the scenes to dilute it’s potency.
The US Fed is made up of private group of 12 banks who only have Govt representives on their board,who in reality are just toady boys of those who have the real power.

It is the US Fed and Wall St that have the real power,since it is they who create the money for no productivity.The most powerful institutions on the planet are banks and insurance companies.They produce nothing,yet take most of what we produce.

By: Andrew Reynolds

Andrew Reynolds — Tue, 26 Jan 2010 06:44:48 +0000

Arjay,
It is generally common courtesy to address your interlocutor directly.
.
HR1207 has not become law – and the Fed has not gone to court to challenge it. Strike one.
Congress was not told that – a few people were talking about it on the floor of Congress. Strike Two.
I will take it that the others you have already conceded on. You’re out.

By: Ginja

Ginja — Tue, 26 Jan 2010 06:35:12 +0000

I would have threatened more than martial law, Arjay.

No doubt Ben Bernanke went along with Greenspan and neoliberal dogma for a long time, but he did about as well as any fallible human being could be expected to when it all hit the fan.

By: Arjay

Arjay — Tue, 26 Jan 2010 02:05:35 +0000

Andrew Reynolds makes references that back my arguments.Over two third of Congress have passed HR1207 and it has now passed committee.Brad Sherman said that they were threatened with martial law if the bailouts were not passed.The ordinary folk were ignored when they did not want the bailouts passed.There were huge demonstrations against the bailouts not reported by the the corporate media since their friends would benefit.It is corruption on an enormous scale.

I think you had better get your facts right.