Question for Ben Bernanke at "Audit the Fed" Rally at Congressman Dennis Moore's office yesterday
Federal Reserve Chairman Ben Bernanke will being taking questions in a forum at the Federal Reserve Bank of Kansas City on Sunday, July 26 from an audience of 40 people.
From the News Hour’s web page:
On July 26, Federal Reserve Chairman Ben Bernanke will join Jim Lehrer in Kansas City, Mo., for an on-the-record forum about how the central bank has responded to the financial crisis and its changing role on the road to economic recovery. The forum will air on the NewsHour during the week of July 27.
A media alert from The News Hour said
… the audience is being gathered with the help of Kansas City public television station KCPT and other local community organizations.
E-mails to both Anne Bell at The News Hour and Nick Haines at KCPT in Kansas City have not been answered about how this audience was chosen, and in particular, what “other local community organizations” means. This question also has not been answered:
What attempts were made to ensure there will be a diversity of opinions among the invited guests that will ask questions?
Organizers of an “Audit the Fed” rally held yesterday at Congressman Dennis Moore’s office in Overland Park were asked if they knew anyone who was invited to the event on Sunday at the nearby Kansas City Federal Reserve.
As shown in the video below, one “Audit the Fed” organizer laughed when asked if he had been invited to ask Bernanke a question, since there is no evidence anyone reached out to local groups that have been critical of Bernanke and the Federal Reserve.
At this event yesterday I videotaped questions for Ben Bernanke from eight regular citizens, who are quite concerned about the actions of the Federal Reserve and Bernanke’s leadership. Perhaps Mr. Bernanke could answer some or all of the questions in this video at the forum on Sunday in Kansas City:
In theory anyone can submit questions for Mr. Lehrer to ask Mr. Bernanke on Sunday on the News Hour’s web site.
Related:
- Fed chairman to appear in Kansas City forum, Forbes, July 24, 2009.
- Fed Chairman Ben Bernanke to Appear in KC Forum, Fox 4 KC, July 24, 2009.
- 1100 Sign Petitions for Congressman Dennis Moore to support “Audit the Fed” Bill (video), Kansas Meadowlark, July 24, 2009.
- H.R. 1207: Federal Reserve Transparency Act of 2009 (”Audit the Fed”), govtrack.us
- Campaign for Liberty
Tags: Audit the Fed, Ben Bernanke, Federal Reserve, Federal Reserve Transparency Act of 2009, Kansas City, KCPT, News Hour with Jim Lehrer, Nick Haines, PBS
The article: Ben “Systemic Risk” Bernanke proves that Bernanke knowingly maintained a strict monetary policy long after he knew of the sub prime problem as he knew it would cause of the “Depression”.
It shows that he probably engineered it on purpose!
If you want to sleep tonight, Don’t Read It!
“In contradiction to the prevalent view of the time, that money and monetary policy played at most a purely passive role in the Depression, Friedman and Schwartz argued that “the [economic] contraction is in fact a tragic testimonial to the importance of monetary forces” (Friedman and Schwartz, 1963, p. 300).
…..
The slowdown in economic activity, together with high interest rates, was in all likelihood the most important source of the stock market crash that followed in October.
In other words, the market crash, rather than being the cause of the Depression, as popular legend has it, was in fact largely the result of an economic slowdown and the inappropriate monetary policies that preceded it.
Of course, the stock market crash only worsened the economic situation, hurting consumer and business confidence and contributing to a still deeper downturn in 1930.”
Governor Ben S. Bernanke
Money, Gold, and the Great Depression.
At the H. Parker Willis Lecture in Economic Policy, Washington and Lee University,
Lexington, Virginia.
March 2nd, 2004
You can read also: Preparing for the Crash, The Age of Turbulence Update: 22/07/09., which tries to accomplish Greenspan Mission Impossible:
“Much as we might wish otherwise, policy-makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances. Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away.
…..
That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer. Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances. Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away.”
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
Plea for a New World Economic Order. explains the nature and causes of economic depressions and proposes a plausible alternative solution.