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Financial Advisor, GTA, Ontario, Canada
Investment, Insurance, Tax & Estate Planning

Wednesday, March 2, 2011

WTSHTF !!!!!!

Ron Paul To Ben Bernanke "I Want A Definition Of Money!"

The must watch 5 minutes from today's second day of Bernanke hearings before congress is the interaction between the Chairman and his archnemesis: Ron Paul. 
The first brilliant rebuttal by Ron Paul has to do with the ongoing "Federal Reserve lecturing" on why Congress should not allow out of control deficits to escalate. 
As Paul so correctly put its, "the Congress and the Fed are symbiotic because the Congress spends and they know there is a moral hazard involved because they know that if interest rates go up, the Fed accommodates them. So the Fed really facilitates this spending, and until we realize this I think the Fed is involved with our deficit and encourages it as well as the Congress."