November 12, 2009
“he would “wall off” deliberations on basic monetary policy, and delay the release of information about the Fed’s financial operations to prevent traders from capitalizing on its moves.”
Mr. Bernanke initially reacted to the bill in almost apocalyptic terms. The G.A.O. audits, he told a House hearing in late June, could lead to a Congressional “takeover” of monetary policy that would be “highly destructive to the stability of the financial system, the dollar and our national economic situation.”
As Alex Jones’ Fall of the Republic reveals, Ben Bernanke told Congress in no uncertain terms, that an examination of its monetary policy would amount to a ‘takeover’ and instilled the fear that it would trigger further economic devastation.
The Congress shall have power… To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;