Comments on: Ron Paul: Don’t Fire Bernanke – Fire the Fed! http://www.ronpaul.com/2009-07-22/ron-paul-we-have-to-fire-the-fed-not-the-manager-of-the-fed/ Ron Paul is America's leading voice for limited constitutional government, low taxes, free markets, and a return to sound monetary policies. The Ron Paul Revolution continues. Wed, 17 Mar 2010 03:30:38 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: longshotlouiehttp://www.ronpaul.com/2009-07-22/ron-paul-we-have-to-fire-the-fed-not-the-manager-of-the-fed/comment-page-1/#comment-26759 longshotlouie Wed, 22 Jul 2009 20:26:20 +0000 http://www.ronpaul.com/?p=3398#comment-26759 http://www.shadowstats.com/ http://www.shadowstats.com/

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]]> By: longshotlouiehttp://www.ronpaul.com/2009-07-22/ron-paul-we-have-to-fire-the-fed-not-the-manager-of-the-fed/comment-page-1/#comment-26758 longshotlouie Wed, 22 Jul 2009 20:23:20 +0000 http://www.ronpaul.com/?p=3398#comment-26758 The Fed has built up bank reserves by accepting mortgage-backed garbage that is worth only pennies on the dollar. Bernanke assumes that investors will eventually recognize their mistake and begin to purchase these toxic assets at a price that won’t bankrupt the banking system. It’s a complete hoax and everyone knows it. In essence, Bernanke is saying that he is right and the market is wrong, which is why he continues to conceal the fact that he provided full-value loans for collateral which the banks will never be able to repay. The costs, of course, will eventually be shifted onto the taxpayer. The Fed has built up bank reserves by accepting mortgage-backed garbage that is worth only pennies on the dollar. Bernanke assumes that investors will eventually recognize their mistake and begin to purchase these toxic assets at a price that won’t bankrupt the banking system. It’s a complete hoax and everyone knows it. In essence, Bernanke is saying that he is right and the market is wrong, which is why he continues to conceal the fact that he provided full-value loans for collateral which the banks will never be able to repay. The costs, of course, will eventually be shifted onto the taxpayer.

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