Ron Paul Rips into Bernanke's Ridiculous Fed Press Conference

If you really want to be elected, do something instead of all the talk about tranparency. Congress has the power to change/get rid of the Fed and you are not only a member of the Congress but head of the finacial sub committee!

to Jerry: notice how he says support from his colleagues was vital in gaining more transparency? its not as if just being a member of congress and head of the financial sub committee means he can change anything he wants to, not without support from other members of congress.

I keep watching the ratio of $US v. Gold and it's creeping me out, to be honest. Looks like the dollar is going down the drain. The thing about reflationary policies is, it's hard as hell to know how far to go to bring about the desired result without unwittingly sliding into hyperinflationary territory. Something really stinks. It's not surprising there's a capital flight into PMs. I would not want to be holding dollar-denominated assets right now. Anyone who is is should be looking at getting wiped out before very long. Seriously. :(

Bernanke's actions have had a large number of unintended side effects--some good, and some bad, depending on your your point of view. For example, Bernanke has been criticized for not creating jobs, but that charge is not completely accurate. The following quote is from article "American Hellholes" which I encountered on the websites MarketOricleUK and theeconomiccollapseblog.com:

"Gangs have stepped into the gaping void left by industry. In Camden today, drugs and prostitution are two of the only viable businesses left - especially for those who cannot find employment anywhere else. The following is how Hedges describes the current state of affairs....

'There are perhaps a hundred open-air drug markets, most run by gangs like the Bloods, the Latin Kings, Los Nietos and MS-13. Knots of young men in black leather jackets and baggy sweatshirts sell weed and crack to clients, many of whom drive in from the suburbs. The drug trade is one of the city's few thriving businesses. A weapon, police say, is never more than a few feet away, usually stashed behind a trash can, in the grass or on a porch.'

But before we all start judging Camden (NJ) for being such a horrible place to live, it is important to realize that this is happening in communities from coast to coast."

So many people who are unhappy and depressed because they lost there house and job and perhaps their family can escape their ennui in the arms of a prostitute and/or with narcotics. So in some areas employment are retailing are picking up and is providing services and products to make very really unhappy people feel good.

Another area that I find interesting is the rapidly expanding expatriation of well-off Americans to evade taxes, protect their wealth, or because they are just feed-up with the declining standard of life in the USA. The IRS is expanding its foreign operations, but I don't think it will do much good as the first thing these people will do is put their wealth out of the knowledge and reach of the IRS. In my opinion, these people should meticulously prepare their tax forms and file them on time, but simply not pay. If the IRS can locate them, they can reject any additional request for information by pleading the fifth.

Of course, Ben Bernanke will deny credit for the above and countless other side effects of his actions, but that is because he's a very humble person.