Dr. James Galbraith, Professional Fed Killer

Editor's Note - An important blast that few of you witnessed the first time around.  Except that is for Dr. Galbraith himself, who posted this story prominently on the website for the Univ. of Texas LBJ School, where he serves as Chairman.

Video - Galbraith and Paul Discuss the Constitutionality of the Fed

Extraordinary discussion from today's hearings.  Skip to the 3 minute mark if you're rushed for time.  We've always known Galbraith to be a calm, calculated truth-teller, and he doesn't disappoint, even looking slightly possessed in this clip.  His answer doesn't come until the 4:15 mark.  He practically tells Paul that it's in their best interest and within the original charter, for Congress to change the funding agreement for the Fed.   Watch his expressionless body as he emasculates the Fed with serene precision and then utters the most beautiful phrase of all:

• "And it seems to me that it would be the appropriate decision for Congress to make."

And then he repeats himself because that's what professional Fed killers do.

---

More from Galbraith at the same hearing.

Video:  Opening statement from Dr. Galbraith

• Time Magazine Bernanke Slideshow

Comments

[DailyBail]

More AIG bonuses to be paid next week.

http://www.washingtonpost.com/wp-dyn/content/article/2009/07/09/AR2009070902702.html?hpid=topnews

If memory serves, there remains approx. $400 million in bonus payments to be made later this year for 2008 contracts not yet paid.

[DailyBail]

Ex Fed Governors Mishkin and Meyer weigh in on the new regulations...pretty interesting...

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200907081222dowjonesdjonline000728&title=ex-fed-governors-issue-warnings-about-systemic-risk-plan

[James H]

Mighty sharp post, Daily Bail.

[RobertM]

I would recommend that everyone read his book "Predator State". He is a very smart man that brings up a lot of interesting points, whether you agree with him or not.

[Ain't Bullshittin']

Chickens coming home to roost at the Fed..........Supper Time...MMMMMM..... Fried Chicken!

[RTQ]

The second video link doesn't work.
Hmmmmmm......

[Sell Short]

Getting really tired of hearing of all the AIG bonuses. This company has no value and they are still handing out bonuses?????

Puke on AIG!

[DailyBail]

RTQ...both videos work for me...try again....

@Sell Short...

AIG is the house guest who never leaves.

[DailyBail]

I'm sometimes surprised at the reach of The Daily Bail. Just a few minutes ago, Dr. Galbraith put a link on his Univ. of Texas web page that leads to the story here on the Daily Bail.

http://utip.gov.utexas.edu/

[gobias bluth]

DailyBail…Why won’t you cover the space race? IT JUST GOT INTERESTING!

“Three things cannot be long hidden: the sun, the moon, and the truth.”
Buddha

“I don't know if there are men on the moon, but if there are they must be using the earth as their lunatic asylum”
George Bernard Shaw

Here men from the planet Earth first set foot upon the Moon. July 1969 AD. We came in peace for all mankind.
Neil Armstrong

INDIA crash-lands a probe on the moon… The Chandrayaan-1 (October – November 2008)
Want to see a photo they took of the moon…
http://www.planetary.org/blog/article/00001742/

JAPAN launched a probe called Kayuga (Selene) to take photos of the moon…
It too later crashed into the moon and could be seen from earth…
http://www.scientificamerican.com/article.cfm?id=kaguya-moon-crash-seen-from-earth-2009-06
Want to see a photo they took of the moon…
MSNBC gave it a Wow!!! (November 2007)...
http://www.msnbc.msn.com/id/21773401/

CHINA did it too… Chang'e-1 (March 2009)
Chang'e-1 was launched into space on October 24, 2007, and sent the first full map of the moon's surface back to China one month later.
Here is a picture of the moon…
http://blogs.discovermagazine.com/badastronomy/2007/11/26/change-1-shoots-the-moon/

RUSSIA did it many times…they are sitting this one out…
http://www.russianspaceweb.com/spacecraft_planetary_lunar.html
A Russian spacecraft is said to have landed on the moon hours before Nasa’s Apollo 11 in 1969. According to a recording that has now been declassified by the Jodrell Bank Observatory, astronomer Sir Bernard Lovell’s radio telescope, which was hidden in the archives until recently, shows the Russian craft orbiting the moon and crash-landing onto its surface at 15:50 on July 21, just a few hours before the Americans lifted.

USA has been there done that, so we are not in the race…kidding…June 2009… The Obama Moon Money Pit Probe (ha, not yet)…It is called the Lunar Reconnaissance Orbiter or LCROSS
We landing many probes 40 years ago (Surveyor, seven in total)
We took man to the moon (Apollo, another seven times)
http://www.space.com/news/a11_moonmissions-timeline.html
We rule!

But, we still want to go back for shits and giggles…
http://www.msnbc.msn.com/id/31424880/ns/technology_and_science-space/
Here is a photo…
http://quest.nasa.gov/challenges/lcross/prelim/nishantsp.html

NASA launched its first moon shot in a decade Thursday, sending up a pair of unmanned science probes that will help determine where astronauts could land and set up camp in years to come.

Wait a tic, back the F up…to determine where astronauts could land???
We have been to the surface (man and unmanned) how many times?
Can’t we get a Sherpa to take us there now?
This puppy isn’t even gonna land, it’s going to crash into the moon?
SOMETHING SMELLS ROTTEN IN DENMARK!

Any science geeks out there? Please explain…

[DailyBail]

See. Gobias, you are covering the issue for us...not that I have the time anyway. But keep it up...I'm sure lots of our readers are interested in that stuff...It's just too far of a stray off course for me to cover officially.


Some thoughts on Galbraith:

http://www.nolanchart.com/article6559.html

[Benny and the Talibanks]

I wonder if the criminals Paulson, Bernanke, Christopher Cox, John Bailout Campbell, Bush, Obama, Greenspan et al. see the Egypt situation and laugh. I bet they don't think there can be a revolution here in the US of A. What I think they are miscalculating is that the Police in our Country are made up of lower middle class citizens. The police will not fire on groups of citizens who peacefully assemble in our country. And in fact, will protect the revolutionaries.

I think it is time to seize the assests of the communist billionaires and imprison those that destroyed our currency. We DO NOT need Bank of AmericaCountrywideMerrylLynch, inc., Wells FargoIndymac, Inc., Citibank, Inc. WashingtonMutualJPMorganChase, Inc.

We must end the Federal Reserve and we must arrest any Congressmen or Congresswoman who has supported illegally funding the above criminal organizations.

[Cheyenne]

The notion that Congress created but cannot control the Fed under the guise of "independence" is utterly preposterous, as Galbraith suggests. It's yet another in a long list of absurd fictions pushed by the mainstream media, which, now that I think of it, pushes little else.

No worries. TV-addicted Americans are absolutely asleep at the switch. The absence of critical thinking skills is just appalling. "Smart" Americans pat themselves on the back for reading WSJ or NYT or for listening to NPR--which are no more than piles of misinformation about all things financial.

[DailyBail]

well said cheyenne...

[DailyBail]

Coolest cars from the Chicago Auto Show

Horsepower, fuel economy and furniture are all on display in the Windy City

http://money.cnn.com/galleries/2011/autos/1102/gallery.chicago_auto_show/index.html

photos...

[Canuck]

John Kenneth Galbraith has always been my favorite economist and a favorite author. His ability to think logically and express his views in a comprehensible manner was amazing. If James is anywhere near his Dad's intelligence and common sense I won't feel the loss of John Kenneth as much. I would highly reccommend 'The Culture of Contenment' a book that never loses it's relevance.

It would be nice to see the Fed come forward with transparency and answer all the questions from Congress with honesty but I'm not holding my breath it will happen.

[Lokis]

maybe it is time to huddle together in prayer and support the status quo - in fact it may be time to really increase military budgets to levels that will provide Freedom armies across the globe in support of American i.e. world interests.

Without continiuing the war on terror and freedom the sophistry of accounting which seems to dominate discussions will not matter. We need to be even half as successful here as the war on drugs to be successful.

Only by killiing our enemies will we be free and they will learn the lesson of liberty and democracy. It is a win-win-win scenario that our warrior Presidents continue to work for on behalf of the oppressed. Let us support them now!

[watch south park]

It would be nice to see the Fed come forward with transparency and answer all the questions from Congress with honesty but I'm not holding my breath it will happen.

http://kisscartoon.me/Cartoon/South-Park-Season-18

[Sagebrush]

If the FED ever truly exposed all of their activity and manipulation concerning the U.S. economy for the last 100 years, there would be a lot of the elite running around in tar and feathers, if they weren't hanging from a tree if front of the White House.