Ron Paul grills Ben Bernanke on the Fed’s desire to fix prices
Congressman Ron Paul (R-TX) lectures Ben “Bilderberg” Bernanke on the flaws of the bailout plan and the hazard of the attempt to fix prices versus letting them correct naturally in the free market at the Congressional Hearing today.
Paul told Bernanke, “The lack of understanding the depression is one of our problems … in the depression we fixed prices which is exactly what we are doing now. In the great depression we plowed under crops to keep prices up while people were starving.” Paul goes on to say, “The Austrian school of economics predicted the [great] depression and the fall of socialism, their key point is don’t mess around with prices because if you do you become a socialist.”
Mr. Paul also questions Bernanke’s authority and constitutionality of using the printing press to generate all this extra money needed for the bailout and the total lack of any oversight or accountability that will be granted the Fed.
Paul says to Bernanke, “I do not know where you get the authority to create credit, The Constitution certainly doesn’t grant you that authority.”
Video: Fox Business interviews Ron Paul about the coming Great Depression 2.0.
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