David Walker Hints At The Un-Constitutionality Of Fed Actions

CNN Video: Warren Buffett and David Walker discuss Bernanke's performance -- Dec. 3, 2009

Short clip from CNN on Bernanke's tenure; Warren Buffett is clueless, as are the majority of 'average people' asked to comment.  There was nothing special Bernanke did to solve the crisis, outside of putting trillions into a bucket and handing it back to the groups who caused the original problems -- the Wall Street banks.

Walker demonstrates some concern for the legality-constitutionality of certain Fed actions in his 2nd appearance in the video above.  As most know, Walker does not mince words or waste his breath; it represents confirmation of rumors I've heard regarding possible legal challenges to end certain Fed programs.  Interesting.

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Comments

[Sagebrush]

If those people interviewed are examples of what the average American is thinking it's time to buy bottled water, freeze dried food and ammo. Get the family to the bomb shelter lock the door and hope you can survive America going down the toilet. "I give him a six or a seven" she says. I'd like to give him a 10-1/2 with a good running start before I give it to him. I put Buffett right up there with the rest of the crooked elites, hell I'd like to give him a 10-1/2 too. How can people be that uninformed?

[Alan Greenspin]

If people think Bernanke is doing a good job, they really don't understand what is going on. Helicopter Ben is trying to staunch the stump of a missing leg with dollar bills, the patient might not bleed to death immediately, but they are going to fall over and never get back up again.

There are very deep and troubling structural problems with our economy and Ben has 2 tools, print more money, and raise or lower interest rates, neither of which can fix the blatant looting of our treasury by Wall Street, or the systemic dismantling of our manufacturing base. Our country has no purpose since the end of the cold war, except to consume whatever the rest of the world can produce, that seems like a recipe for disaster. Wait til January 2010 and watch the closing of so many retail stores it will make your head spin.

Ben is doing a fine job for Wall Street, especially Goldman Sachs, the other 99.999% of us don't really matter, or so it seems. Gotta love the economic propaganda from CNN, the 4th branch of government.

[James H]

A couple of those people clearly had no idea who Bernanke even is. Or what the Fed is. Regardless, if they had phrased the question differently, people would have given very different answers.

Something like: "Ben Bernanke, helped blow a world-wide housing and asset bubble that just popped and now that he's risked trillions of dollars to save Goldman Sachs and JP Morgan, unemployment is still over 10% and thousands of American families face foreclosure every day. Do you think he's doing a good job at this point?"

[Ken]

CAPITALISM’S FINAL PAROXYSM

The deep systemic change now in motion will result in the collapse of capitalism. Capitalism, a system that replaced money and savings with credit and debt, is in disarray as never before.

Capitalism: It’s a bit like borrowing from Peter to pay Paul. Except in the case of capitalism, it’s your money you’re borrowing, Peter and Paul are the same person and he’s a banker.

Capitalism has long been identified with free markets. In actuality, capitalism is any system where the banker’s capital, i.e. credit, has become the engine of economic growth and debt has replaced savings as an asset. Free markets existed long before being exploited by bankers and will exist long after.

[GobiasBestFriend]

Thank you Darryl Robert Schoon.

[DailyBail]

Something like: "Ben Bernanke, helped blow a world-wide housing and asset bubble that just popped and now that he's risked trillions of dollars to save Goldman Sachs and JP Morgan, unemployment is still over 10% and thousands of American families face foreclosure every day. Do you think he's doing a good job at this point?"
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@JAmes
Would have been a much better way to frame the question...

@Sagebrush

The sheeple for the most part do not get it...though 75% support auditing the Fed...

[S. Gompers]

Unfortunately, Constitutionality does not apply, since we have been operating under Admiralty law since the U.S. bankrupcy in 1933.


http://www.barefootsworld.net/admiralty.html

http://www.barefootsworld.net/admiralty.html

http://www.afn.org/~govern/bankruptcy.html

It is all about the TINman... And the Hegelian Dialectic

http://www.irs.gov/businesses/small/international/article/0,,id=96696,00.html


"Mr. Speaker, we are here now in chapter 11.. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner’s report that will lead to our demise.

Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House

[TimeForLynchings]

"David Walker Hints At The Un-Constitutionality Of Fed Actions"

Fed actions hints its reply to Walker, "We don't give a F!"

[DailyBail]

Interesting links gompers...