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« Eye Catching Gold | Main | Portfolio Update 30 June 2009 »

Should Bernanke be reappointed as Fed Chairman?

As well as dealing with near 10% unemployment, an economy in recession and severe inflationary pressures looming right around the corner, Ben Bernanke must also work to assure his reappointment, with his term ending this January.

In addition to this, Bernanke is attempting to convince Congress that the Federal Reserve should have a more leading and powerful role in a new restructured financial system.

Ben Bernanke Tony Soprano

Do you think Bernanke should be reappointed for another four years as head of the Federal Reserve?

We do not think he should, since we view his policies to be very damaging in the long term, with respect to the massive issues of inflation and a ever weakening currency that America will face in the not so distant future. Our preference would've been for a recession to be allowed to happen, severe though it may have been, but a sustainable, organic recovery would have followed, without the inflationary hangover.

As for giving the Federal Reserve more power, we feel this is absurd and wholeheartedly agree with Connecticut Senator Christopher Dodd who referred to the plan as “like having a parent giving his son a bigger, faster car, right after he crashed the family station wagon.”

Unfortunately however, we are in the minority. A Reuters poll showed economists give Bernanke 8 out of 10 for his handling of the crisis, and the wonderful President savior Obama has praised his work.

Therefore it is highly likely that Bernanke will be reappointed for another four years.

The trouble is, Bernanke is not the problem. Replacing Bernanke will not solve the problem. Another with near identical policies will replace him and so we will be stuck in the same situation. The entire Federal Reserve needs to be overhauled and replaced with officials that are dedicated to letting the free market run its course, and gradually reduce the Fed's power until it ceases to exist.

Until that happens we will be stuck with an unelected, interfering institution that holds more power that the President and constantly undermines free market principles – regardless of whether the head of the snake is Bernanke, Yellen or Tony Soprano!

What do you think?

Does Ben Bernanke deserve another four years?

Who should replace him?

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Reader Comments (5)

Of course he shouldn't be reappointed. He should be prosecuted But you're right, there are plenty of other soulless puppets out there who can be tapped to carry out Morgan's agenda. Nothing much would change.

We'd get Larry Summers. That's like trading one mob boss for another. Good analogy guys.

The only answer is to END THE FED! Sure, the odds in favor of being able to get it done are exceptionally long, but it starts with passing Ron Paul's bill to audit the Fed. That has a chance of passing. Who knows, stranger things have happened. The Soviet Union collapsed quickly when most assumed they were a permanent fixture on the world scene.

Just imagine a free market in money and a financial system that isn't so parasitic and criminal in nature.


July 1, 2009 | Unregistered CommenterTom

"The entire Federal Reserve needs to be overhauled and replaced with officials that are dedicated to letting the free market run its course, and gradually reduce the Fed’s power until it ceases to exist."

Sorry, but that's just about the silliest (I was going to to say stupidest, but that sounded unkind, and I don't think you're stupid) thing I've ever seen you write. That's like saying you're going to remove Tony from his Mafia position and put in a nicer criminal!!! Secondly how the h*llo do "WeThePeople"...thru our govt..."put in" these "nicer criminals"...??? It's a private business!!! It is NOT a part of our govt...these are private intl banksters...criminals at the highest echelon whose goal HAS ALWAYS BEEN THE TAKEOVER OF THIS COUNTRY BY TAKING OVER ITS MONEY SUPPLY!! These banksters don't have the first scruple about what they've done and continue to do to this country and its citizens...we are cattle to them...cows to milk and sheep to shear and finally hogs to butcher.

Go read about Mayer Amschel Bauer...who later changed the family name to "roth-schild" (after the "red sign/schield" hanging in front of his money-lender / gold shop on Judenstrasse in Frankfurt, Germany. And read about his sons who were heads of 5 different major Central Banks. And go read what he and his son Nathan (who ran/basically owned the Central Bank of England) and his son's son said. To quote Nathan: "I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain's money supply controls the British Empire, and I control the British money supply." The "Fed" is the Bank of England transplanted onto Amnerican soil...with the vile lifeline still attached to the rothschild family in Europe.

You see that is and always has been the goal of these Central Banks under the control of this family...CONTROL...and then taking that country under its "wing" until it controlled them all, thru the control of their money supply, until there was a new world order, with them as bankers to the world. Their words...their agenda, spelled out since the late 1700's for anyone to read who actually wants to know.

So please don't tell me that there's ANYway this country can leave these intl criminals in charge of ANYthing in this country. Ron Paul understands and has understood that for MANY years, and has worked tirelessly to get the nearly braindead sheeple people of this country to understand that they are a deadly cancer on this near-dead country. THEY MUST BE COMPLETELY ROUTED OUT before this once great experiment in liberty is complete enchained and then destroyed!!! PERIOD!!! jt

July 1, 2009 | Unregistered Commenterjt

Bernanke should not be replaced in my expert opinion. Just let the Fed keep on pumping out more of those $100 bills and in about 3 years I will make a fortune on my silver coins.

July 1, 2009 | Unregistered CommenterAH


We thought that we had covered much of what you are saying in a post entitled "The Federal Reserve the Greatest Scam in History" and we did not want to repeat ourselves, but your points are taken.

July 1, 2009 | Unregistered CommenterGold Prices

Sorry guys, I did not see TW's response before I posted, and I most certainly do have an angry edge when it comes to this topic...the Fed and its Mafioso Family has got to be one of the, if not the, most criminal and destructive forces in the history of the world. And to discuss them in any other light just gets my blood boiling. But I appreciate your gracious response. jt

July 2, 2009 | Unregistered Commenterjt

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