Despite a 1393 point Dow rally, why is the Czech Prime Minister, current European Union President, saying the US borrowing and spending is the way to hell?
(For a clue, we recall Proverbs 22:7 says: the borrower is servant to the lender. )
Three Bankers testifying on Capitol Hill are moneychangers cum public servants. They take from taxpayers to create funny money out of thin air to bail out and support their failed enterprises, punishing success and rewarding failure. They do not like to be questioned on this.
Perhaps that’s why they refused to answer Congressional questions. At one point, the Fed Chair even told our elected US representative from Illinois he would not answer the question because it was a poor question (@5:38 of clip)
A brave US Rep from Minnesota asked all three Bankers what authority they had under the Constitution? None of them answered the question. (@5:48 of clip)
US Rep Ron Paul expounded, suggesting the record of government involvement in free markets was lengthening panics and depressions from increased crony corporatism and moral hazard (@ 5:15)
(Will our Federal government outlaw YouTube or squash free media like China or Russia?)
JP via RSS
