Barney Frank’s Letter to Ben Bernanke

The Honorable Ben S. Bernanke
Board of Governors of the Federal Reserve System
Washington, DC 20551

Dear Mr. Chairman:

During your Humphrey-Hawkins testimony before this Committee last week, Representative Ron Paul raised questions about inappropriate political interference with the Federal Reserve System resulting in hidden transfers of resources to facilitate crimes during the Watergate scandal in the 1970s, and to Iraq for weapons purchases during the 1980s. These are serious allegations and must be fully investigated. I expect that you will do so promptly, and share the results of your investigation with Congress.

Given the continued concern about political interference with the Federal Reserve System and allegations about a lack of transparency, these charges cannot be left unaddressed.

Representative Paul cited reports and stonewalled investigations regarding these charges, and, with this letter, I am asking him to share with you whatever information he has that may facilitate your investigation.

The Federal Reserve’s ability to manage monetary policy in an effective manner depends, in large part, on its reputation for independence and integrity. A complete investigation of these charges is necessary to maintain both.


cc: Representative Ron Paul

[PDF File]

  • I have no idea what does one suggest by this article, yet it’s just your concept.

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  • USA banks profits(business model)
    -Federal reserve bank print money(turn paper to money)cost=paper cost.banks’capital.

    -1st profit-exchange paper(printed money&interest free)for gov bonds(interest paying).
    government/people become debtor.(people didn’t do anything but get debts.)
    People through government owe them(bankster) money.
    better still for banksters this new paper(money)earn interest.
    But this interest paid by people when people work,eat,drink,breath through taxes,tariff, banksters.And govenment help banksters to collect this people’s ‘debts’(in the form of-disguise- interest/taxes/tariff,etc.)

    -2nd profit-bonds earn interest.(now people/government owe the banksters principal+interest)
    government collect taxes,income tax,tariff,land sake,etc to pay this interest(to bankster).
    but bankster are very clever and never ask principal to be paid so that interest can be collected forever.
    instead keep creating debt through war,market turmoil,currency turmoil,chaos,fraud,etc.

    -3rd profit-deposit bonds with treasury&get back money(printed money)-used this money to give out loans at 10 times(fractional banking).
    Take any loan from bankster they take a cut.
    People do business bankster take a cut through loans,profits tax,etc.if people’s business fails bankster take over and own the business for free.

    Therefore bankster loot from people
    (i)directly when people get loans from them or
    (ii)indirectly through government taxes,income taxes,tariff,land sale, pay interest on government debts.
    ultimately ends up in bankster coffers.

    The beneficiaries.
    Federal reserve banks.the 12 reserve banks.
    The shareholder of these banks are jp morgan chase mahattan,morgan stanley,goldman sachs,citi,bofa,wells fargo.

    Every time money is printed or loans created,people lose and in debt without people realizing it.

    This is how a nation is conquered and enslaved silently and insidiously through debts.

  • SS
  • Daryl Klein

    Outstanding Mr. Paul! It just might be that people are finally waking up and listening to what you are saying. I am associated with Nathan Martin of Nathan’s Economic Edge and the plan called Freedom’s Vision, backed by The American Party PAC. I sit on the national Board of Directors and we would greatly appreciate it if you would take a look at what we are doing. Our organization can be found at It is fairly new but is growing rapidly. We are becomming nationally reconigized by even people like Gerald Celente. It is a financial reform movement that agrees with your ideas on the Fed as well as central banks overall and the need to seperate politicians from special intrest money. We would like to work with you

  • What prevents a fake investigation where big Ben says I looked, but didn’t see anything…… Nothing to see here.

  • Mr. Paul:

    The SWARM is behind you 110%! Keep raising the questions……the SWARM will continue to build and mobilize true grassroots support for FED transparency.

    As you are well aware, the root cause is the exponential math of debt backed money. Anyone who thinks that exponential growth is okay simply doesn’t understand math. Our money system does not have to be backed by debt, nor should the quantity be controlled by a private “FED.” True market stability will not be found until the debt saturated condition is CURED, not just swept under a mark-to-fantasy carpet.

    Please help bring about a permanent cure and return the markets to that which they were intended instead of an artificial casino.

  • Get your facts right pal! You’re facts are filled with loads of Propaganda, but everyone has the right to speak their own mind even you.

    • Fred the Protectionist

      Great timing you have. “but everyone has the right to speak their own mind even you.” Really.

      The ‘right to speak’ like that new ‘Like or Dislike’ click box under every comment where you Ronulans can click ‘dislike’ a couple times to make comments by rational people disappear. You guys use every internet trick in the book.

      • Now, Now, Fred! Don’t cry over an argument that You cannot win. I actually feel sort of sorry for ya! LOL!

      • longshotlouie

        Comments by rational people disappear?
        Do flying saucers appear to replace them?

        Hey Forest, is that a c o n s p i r a c y?


        • Fred the Protectionist

          You Ronulans are good at internet spamming, and ballot stuffing. Clicking the “dislike” button is easy for you, to make the rational people disappear.

  • Fred the Protectionist

    Interesting allies the Libertarians have; Anarchists, ACLU, Bawny Fwank, Communists, neo-nazis, Godhaters…

    • longshotlouie

      God bless your ignorant ass, Fled the Deflectionist.

      • Fred the Protectionist

        Why do you hate America?

        • longshotlouie

          Is that the title of your next po-em?

          • Fred the Protectionist

            My next poem is entitled: ‘HAHA The Democrats won another election, thanks Libertarian crazies.’

          • longshotlouie

            When you are unable to compete, is it usually someone else’s fault?

          • Fred the Protectionist

            “When you are unable to compete, is it usually someone else’s fault?”

            Your Libertarianism (neoconnory) is what destroyed the Republican Party, it’s your nutty ideas that are ‘unable to compete’.

      • Lindsey

        Louie: Fred needs to FLEE the country.

  • That was a well written letter to inform the chairman Frank about what goes on behind the scenes of The Federal Reserve.