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Florida congressman Alan Grayson laughs in Ben Bernanke's face - priceless!


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During his questioning of Federal Reserve Chairman Ben Shalom Bernanke before the House Financial Services Committee, U.S. congressman Alan Grayson (D), representing Florida's 8th congressional district (Orlando, Ocala, Eustis), burst out laughing at Bernanke's hubris. (21 July 2009) Grayson's questioning focused on the Fed's handouts to FOREIGN central banks in Europe and other countries. These "Central Bank Liquidity Swaps" rose from a total of $24 billion at the end of 2007, to over $553 billion by the end of 2008.Grayson: "So who got the money?"Bernanke: "Financial institutions in Europe and other counries."Grayson: "Which ones?"Bernanke: "I don't know."Gryson: "Half a trillion dollars and you don't know who got the money?"It gets even better. 3:02 -Grayson: "Well, look at the next page [in Bernanke's written report], the very next page has the U.S. dollar nominal exchange rate, which shows a 20 percent increase in the U.S. dollar nominal exchange rate at exactly the same time that you were handing out half a trillion dollars. You think that's a coincidence?"Bernanke: "Yes."Grayson: "hah-hah-hah-hah!"And really, can Ben Bernanke possibly be so ignorant of the history of the institution that he heads not to know what year the Federal Reserve Act was passed (under very shady circumstances) by the U.S. congress?Anyone who is interested in the nefarious origins of the Federal Reserve must read the great book by G. Edward Griffin, "The Creature from Jeckyll Island."You can watch the entire hearing on the C-SPAN web site: http://c-span.org/Watch/Media/... can contact Rep. Grayson and tell him "thanks" at http://www.youtube.com/user/Re...

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: YouAreMerelyPuppets

Length: 05:10
Rating: 4.8557215
Views: 411703


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Video Comments

NibsNiven (November 30, 1999 at 12:00 am)
Wrong. Google "fractional reserve banking".
jneil2007 (November 30, 1999 at 12:00 am)
fuck you bernanke
AxRhea88 (November 30, 1999 at 12:00 am)
And seeing as how we are trillions of dollars in debt because congress just doesn't understand economics, I don't want them in charge of something so important. A Ron Paul fan or not, we can all agree, Congress taking charge over the Fed is not what we need or want.
AxRhea88 (November 30, 1999 at 12:00 am)
Remember, there's only so much credit we can extend to Americans. Too much credit is what put us in this recession in the first place. If we help stimulate the world economy, natural ups and downs will level out and everything will eventually get better. Thank god congress doesn't audit the Fed. I don't know if you guys know this, but if Congress had power to audit the Fed, they'd have power to regulate the economy just as much as the Fed.
jimmyrtle (November 30, 1999 at 12:00 am)
@Chnamanjx Sorry, a bank cannot lend out $90 if they only have $10 in deposits.
AxRhea88 (November 30, 1999 at 12:00 am)
Lending money to foreign banks isn't new. We did the same thing with europe and germany after WWI to try and get the world economy out of the shitter. In the end, we increased the tariff and stopped lending money, which led to the Great Depression. Alan Grayson, learn your facts. This shit isn't new. It's just a repeat and it helps get us (and the world economy - since we are all connected now) back on track.
AxRhea88 (November 30, 1999 at 12:00 am)
Alan Grayson has an economics degree and now knows more than Ben Bernanke. What an ignorant asshole. Stop laughin and go suck some dicks.
jmkeller (November 30, 1999 at 12:00 am)
This just goes to show how calm one can be and still slay the feds. :) I may be a Republican, but I love this guy!
Chnamanjx (November 30, 1999 at 12:00 am)
No you deposit $10 in the bank, the bank loans out $90.
jimmyrtle (November 30, 1999 at 12:00 am)
"Why should some private company manufacture money?"I deposit $10 in the bank. The bank loans out $9. Why do you feel the bank manufactured money?


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