CNBC anchors were left dumbfounded and acted overtly cantankerous
yesterday after Congressman Ron Paul's opening statement at
the House Financial Services Committee was broadcast live to
an audience of millions.
CNBC went live to the House, clearly without knowing
that the Texas Congressman had the initial Republican statement
at the hearing of Fed Chairman Ben Bernanke.
After the Congressman spent two and a half minutes
lecturing
Bernanke on sound money principles, warning that
the financial crisis cannot be solved by merely creating credit
out of thin air, CNBC cut back to the studio.
Anchors Erin Burnett and Mark Haines were so perturbed
by what they had just heard that they immediately cut to a commercial
break:
Haines: "This is not going as planned"
Burnett: "No it is not"
Haines: "We were told that there would
be a very limited number of opening statements, and it seems
to be getting out of control."
Burnett: "Here's what we forgot, everybody
is taking this live, you know what that means? Why would they
miss an opportunity for free air time?"
Haines: "We're going to take a commercial
break and get them out of the way, so that when something
really substandard [he must mean substantial?] is happening,
we don't have to interrupt them."
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The Congressman's speech was powerful and eye
opening:
“This is the end of an era,” said
Paul, “we can’t reinflate the bubble….if we
think that we can reinflate this bubble by artificially creating
credit out of thin air and calling it capital, believe me we
don’t have a prayer of solving these problems - we have
a total misunderstanding of what credit is versus capital.”
Of course, in the eyes of the corporate media
shills for the Fed, the Treasury, and Wall Street Paul's words
were "out of control". How dare he speak such sense
and actively question the logic of the almighty ones, our only
hope, our saviors (who also happen to be the very same set of
criminals that led us down the path to economic ruin in the
first instance).
Then again, how could we expect anything else
from the likes of CNBC's Burnett and Haines, who have previously
demonstrated a total lack of understanding of the
underlying causes of the financial crisis, even commenting that
gold has "no inherent value".
CNBC anchors were left dumbfounded and acted overtly cantankerous
yesterday after Congressman Ron Paul's opening statement at
the House Financial Services Committee was broadcast live to
an audience of millions.
