Thursday, May 6, 2010

Audit the Fed? Bernanke Says No

Ben Bernanke came out against pending legislation that would allow Congress greater oversight of the Federal Reserve.

"Such amendments, if enacted, would seriously threaten monetary policy independence, increase inflation fears and market interest rates, and damage economic stability and job creation," Mr. Bernanke wrote to Mr. Dodd.

By some reasoning that I do not understand, Mr. Bernanke believes the American people have no business knowing what goes on inside the institution that controls all of their money.

If I were Ben Bernanke, I wouldn't want people knowing what I was doing with their wealth either. Because once people found out that the Federal Reserve has been helping banks steal their wealth for the last century, they might get a little upset. Like, Greece upset.

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