Ben Bernanke re-nominated for Fed chairman; why do Obama and Congress love Bernanke so?
Aug 31, 2009 Peter Schiff, economy, financial, politics
It is official, Obama re-nominated Ben Bernanke for chairman of the federal reserve. Bernanke still has to be confirmed by the Senate, but that is likely to happen. Why? Why do Obama and the Congress love Ben Bernanke so much?
Obama and the Congress love Bernanke because he makes their lives very easy. Obama can’t run his huge deficits without Bernanke. Congress doesn’t have to cut spending with Bernanke. Obama wants desperately to keep Bernanke around in order to run his socialized health care system. All of the deficit spending is possible because unlike Paul Volker, Ben Bernanke is letting Obama and Congress off the hook by monetizing all the debt.
Politicians hated Paul Volker because he raised interest rates to over 20% during his chairmanship. They all wanted him to resign because they could no longer run deficits that they thought they needed to get re-elected. Alan Greenspan, often heralded as the greatest Fed chairman ever, lowered interest rates to 1%, effectively monetizing debt through the expansion of the money supply via wide open credit from the Fed. Ben Bernanke is doing the same thing – delaying the inevitable economic pain and suffering – by lowering interest rates to a staggering all time low of 0%. Of course Obama and the Congress love Bernanke! They can continue to spend, spend, spend, with no short term consequences. The consequences are delayed and transferred to our children, who will inherit the debt and won’t be able to repay it.
See Peter Schiff’s great video below.
Tags: ben bernanke, congress, economy, Federal Reserve, Peter Schiff
Help Peter Schiff raise cash for his Senate run!
Aug 31, 2009 Campaign for Liberty, Peter Schiff, economy, financial, news, politics
Help Peter Schiff raise enough money ($1.5 million) to make a senate run that will give hardcore liberal Christopher Dodd a run for his money in Connecticut. Peter Schiff stands for small government, fiscal responsibility, and he has an extraordinary focus on monetary policy that we desperately need in the US Senate. Check out Peter Schiff for Senate online and if you can, donate to his campaign. Remember, you have nothing to lose by donating to Schiff’s campaign, because if he decides not to make his senate run official, he will refund every dollar he raises. However, we really want him to run, and WIN!
Tags: Peter Schiff
Rand Paul announces his official Senate campaign!
Aug 5, 2009 Campaign for Liberty, Rand Paul, news, politics
Rand Paul officially announces today (August 5th, 2009) that he is officially in the race for the US Senate representing Kentucky. We need Rand Paul and Peter Schiff in the Senate now more than ever. Rand Paul said about his decision, “I think the main thing that motivates me to run for office is the debt fueled by Washington’s out of control spending. I think we’re drowning in a sea of debt, as a country. The deficit this year will be 13% of the GNP. This is a historic high. The danger is going to be inflation within a year or two, and prices may rise rapidly.”
This is a great day for America!
Tags: Rand Paul
