12/3/09 Ron Paul with Judge Napolitano on Glenn Beck: Bernanke t. Senator To Fed Chair Bernanke: 'You Are The Definition Of Moral. A few hours after Federal Reserve Chairman Ben Bernanke began a spirited defense of his much-maligned tenure leading the nation's central bank, a Republican Senator reached across the aisle to join one of the chamber's more liberal members in declaring his intention to delay Bernanke's likely confirmation. Sen. Jim Bunning, of Kentucky, told video journalist Mike Stark that he will place a "hold" on the Bernanke's confirmation, joining Bernie Sanders, of Vermont, an Independent who caucuses with Democrats. The video was first posted on the left-leaning blog FireDogLake.
Bunning added that he and Sanders won't be the only ones to pull this procedural delaying tactic. However, unless they get 39 others to join them in opposing Bernanke, he'll likely be confirmed. It'll just take Senate Majority Leader Harry Reid (D-Nev.) a bit more time, as he'll have to round up 60 votes to bypass the "hold.
" Lead among them was Jim Bunning, a Republican from Kentucky. Bunning's prepared remarks are below. FEd Inflation. The following information may be the most important we have ever published. One of our Intel sources, highly placed in banking circles, tells us that on 1/1/10 all banks that have received TARP funds have been informed by the Federal Reserve that they must further restrict any commercial lending. Loans have to be 75% collateralized, 50% of which has to be in cash, which is a compensating balance. The Fed has to do one of two things: They either have to pull $1.5 trillion out of the system by June, which would collapse the economy, or face hyperinflation. This is why the Fed has instructed banks to inform them when and how much of the TARP funds they can return.
We believe the Fed will opt for letting the system run into hyperinflation. We have been told that the FDIC not only is $8.2 billion in the hole, but they have secretly borrowed an additional $80 billion from the Treasury. This will strip small and medium-sized banks and force them into shutting down or being absorbed. Senator To Fed Chair Bernanke: 'You Are The Definition Of Moral. Audio/Video Human Action: A Treatise on EconomicsHuman Action: A.