Reserve chairman Ben Bernanke has been named
TIME person of the year for 2009 and hailed as
a saviour when in the real world he has overseen the worsening
of the financial crisis, the looting of the American economy
by foreign offshore banks and the destruction of the Dollar.
In a world where those vastly escalating war are awarded the
Nobel Peace Prize, it makes perfect sense to award the Federal
Reserve chairman with person of the year.
"His creative leadership helped ensure that 2009 was a
period of weak recovery rather than catastrophic depression,
and he still wields unrivaled power over our money, our jobs,
our savings and our national future." writes TIME.
The magazine also bizarrely states that Bernanke launched "a
groundbreaking public relations campaign to demystify the Fed",
despite the fact that the chairman has consistently lobbied
Congress for protection of the Fed's "independence"
(read secrecy), while categorically refusing to answer questions
regarding the Fed's decision making.
The timing of the announcement couldn't be more perfect. As
NBC's Matt Laur pointed out, Bernanke can go to Capitol Hill
tomorrow, hold up TIME magazine and ask to be reappointed as
Of course, if TIME's person of the year award was really judged
on toil in the best interests of the American people, the clear
winner would be Congressman Ron Paul, who has railed against
the Fed and Bernanke with great success this year.
Paul's tireless effort to wrestle power away from the Federal
Reserve and put it back into the hands of the American people
has seen a major victory with the progression of legislation
slated to audit the Fed and put it's activities under public
Instead TIME's article on Bernanke refers to Ron Paul in the
context of "Bleeding-heart liberals and tea-party reactionaries".
Paul gave his opinion on the announcement regarding Bernanke
on MSNBC's Morning Joe earlier today, commenting:
"He is the most powerful man in the world, I believe a
case can be made for that."
"Because he controls the supply of money, the Dollar which
is the reserve currency of the world. He can create a trillion
dollars in secret without any monitoring of the Congress. So
there is no transparency and I think he is more powerful than
the president." the Congressman added.
"The big question is, has he used that power for good
or for evil? And of course, my side of the argument is that
the system is evil, and the chairman, whether it's Greenspan
or Bernanke, they can do no good."
"They cause our troubles, they cause inflation, they cause
the bubbles, and therefore the bust, the correction is always
their fault." Paul stated.