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Questions for Chairman Bernanke…that were not asked!

July 17, 2012

Today’s report to Congress by Bernanke reveals that our Congress is mostly unaware of our core monetary problems!

Let’s think up some relevant questions that our Congressperson’s should and could ask that would reveal our real situation as a Nation and the machinations of the FED. You may pass this missive on to your representatives if you desire.

 
#1 Question:  What do you think about your role as the key Central Planner for our Capitalistic economy? Does not the Fed (of which you are the current Chairman) act as the Centralized Institution for all monetary matters within our economy? Does not your role include manipulation of interest rates, asset prices, our currency’s value, bail-out policies for select institutions, monetary accommodations for select institutions, and similar polices to affect the financial behavior of Americans…so that your (and your Committee’s) planning ideas can be achieved? And do you think that Central planning is Constitutional given our history and the ideas of our Founding Fathers?
 
2. Question:  Are you aware that you and your FOMC committee are now creating our American currency (the dollar) by merely typing computer digits (called dollars)  into your System Open Market Account (SOMA) at the New York Federal Reserve Bank (via your computer)? These operations artificially increase your SOMA checking account and represents what Ron Paul calls “creating money out of thin air”? Why are you doing this rather than having the Bureau of Engraving and Printing create new paper dollars via the printing press? Do you view this operation of yours as Constitutional (as it appears to be an official operation of counterfeiting)? Do you view these newly created digits (which you call dollars) as official ‘legal tender’…according to our legal tender laws?
 

 
 3. Question:  Who or whom influences you the most when it comes to your QE and Stimulus ideas? Does William Dudley at the New York Federal Reserve Bank have the most ‘hands on’ operational knowledge and control of your System (SOMA) account? Do you (via the NY Fed) enter the financial markets daily to implement your manipulation policies and schemes for our economy? Why are all these manipulations not transparent for everyone in the Markets to observe? Is secrecy and hidden manipulation necessary to accomplish your schemes? Are any of these operations in accordance with our Constitution and our history as a transparent government? Why do you desire to participate in all these hidden schemes and manipulations?
 

 
 4. Question:  Are not you and your FOMC committee the most powerful financial entity on our planet and do not your secret policies and meetings (which are not revealed in realtime) affecting all the global markets on this planet? Do you consider this situation as representative of the American Way and the philosophy of our Founding Fathers? Would Thomas Jefferson and countless other patriots, who were most instrumental in forming the political philosophy of our Country, be supportive of your Centralized Operation and all your manipulation schemes? How many on your Committee follow your personal recommendations when it comes to policy decisions? It appears from historical FOMC records that the Chairman (you) rarely has any operational opposition when it comes to policy decisions! Are you a Monetary Dictator and unaware of your status?
 

 
 5: Question:  You stated today that Europe and their financial situation is the most threatening challenge for our economy going forward. Do you and your associates within the Fed  implement policies and make decisions via your ‘swap’ policies, etc.,  to manipulate the European markets? If so, is this operation or action within the mandate of the Federal Reserve Act as originally approved by our Congress in 1913? Do you view these types of actions as Constitutional and within the parameters of what our Constitution desired for our money system? Are you aware that our Congress was supposed to implement all monetary schemes for our country and be responsible for the creation of our money (Article I, Section 8)? Why do you view the Federal Reserve Act of 1913 as a Constitutional act? Why do you desire to be associated with a Centralized Institution like the Fed?
 

 
6. Question:  You appear to not like our dollar tied to gold  in any manner…is this correct? Why do you prefer a currency that is created ‘out of nothing’ and which has no operational ‘value’ (in itself)? Are you not aware of the purpose and role of money within a Capitalistic economy? What is your view of the Coinage Act of 1792 which established our dollar as a ‘name’ with a specific definition (371.25 grains of silver or 24.75 grains of gold)? Do you understand why a currency unit needs to be defined in terms of some thing physical (which is perceived by the people to have some ‘value’)? What is your view of our current ‘dollar’ which you create ‘out of thin air’ and which has no material substance to it? Are you aware that this ‘dollar’ is really a ‘unit of consciousness’? And it’s your ‘consciousness’ which decides the number of these computer digits which enter the markets! What is your philosophy on our ‘money unit’ (the dollar)?
 
What we probably need is a private interview of Chairman Bernanke on these questions and many others. My sense is that he may not like to entertain these types of questions. Anyway, it is the question/answer which reveals a persons inner thinking and philosophy. Just what is the philosophy and inner thinking of Chairman Bernanke. He affects all of us…yet he is unelected and operates mostly in secret with his unelected associates. None of this seems like an American Institution (philosophically), to me. What do you think? Enjoy!
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