Bernanke Gets the Horns
Let me preface this report with a brief review of the more memorable battles that led up to Tuesday’s confrontation on Capitol Hill. In February of 2007 Ron Paul’s combative dialog with Federal Reserve Chairman Ben Bernanke had investors in the Chicago market literally cheering.
In December of 2007, Rep. Paul was such a force to be reckoned with against Bernanke during a Q&A session of the Joint Economic Committee that poor Ben’s voice actually wavered in response to the grilling he’d just received.
On September 24th 2008, Rep. Paul spoke directly to Bernanke with brilliant candor. He carefully but clearly handed Big Ben the brush and watched him paint himself into a corner trying to defend the decisions that have been made by the Federal Reserve leading up to this market collapse.
On September 29th Rep. Paul spoke on the House floor regarding the bailout and its consequences.
This has nothing to do with free market capitalism. This has to do with a managed economy, an inflationary system, corporatism, and a special interest system. It has nothing to do with the failure of free markets and capitalism. Yet we’re resorting now, once again, to promoting more and more government. Long term, this is disastrous.
And while he had his supporters, the machine neither halted nor changed its direction. After the signing of the Bailout, Rep. Paul picked up even more support and used this momentum to directly confront Bernanke about the content of his meetings with other central bankers and how these meetings have affected the nature and intent of the Bailout.
In the fallout of said Bailout, Rep. Paul takes a few moments to address viewers about what we might see happen now that the bill has been stamped into law.
Had the RNC given Paul the time of day during the primaries, we would very likely be saluting a Republican President in January. Libertarians, Republicans and moderates alike would have left skid marks to the polls to get him into office.