Bernanke admits Federal Reserve a private bank, says audit would destroy its ‘independence’
In his own admission, Bernanke declares the Fed an independent agency that is far beyond the control of the people through their elected officials.
As the Fed runs wild and implodes the American economy, it is only right to audit this criminal organization and to demand its total dissolution based on the horrors that would no doubt surface.
Grant J. Kidney
Reuters — Federal Reserve Chairman Ben Bernanke on Wednesday rebutted Republican lawmakers pushing a bill that would give Congress the ability to review monetary policy decisions, saying it could compromise central bank independence.
Bernanke said it would be a “nightmare scenario” if politicians decided to second-guess monetary policy.
“That is very concerning because there’s a lot of evidence that an independent central bank that makes decisions based strictly on economic considerations and not based on political pressure will deliver lower inflation and better economic results in the longer term,” Bernanke told the U.S. House of Representatives’ Financial Services Committee.