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To: Pelham

It’s everywhere the Federal Reserve can be found.

Though your question reeks of something unmentionable. A similar question would be “Can you produce evidence of government incompetence?”

Nevertheless, take this just for starters:

“Regarding the Great Depression, … we did it. We’re very sorry. … We won’t do it again.” Ben Bernanke, November 8, 2002, in a speechOffsite link given at “A Conference to Honor Milton Friedman … On the Occasion of His 90th Birthday.”

https://www.federalreservehistory.org/essays/great_depression


73 posted on 12/30/2018 9:00:10 PM PST by reasonisfaith (What are the implications if the Resurrection of Christ is a true event in history?)
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To: reasonisfaith

“It’s everywhere the Federal Reserve can be found.”

In other words you can’t produce a single example. Not a surprise.

“Regarding the Great Depression, … we did it. We’re very sorry. … We won’t do it again.”

Yes, and you haven’t the faintest idea of what Bernanke meant by that quote because to do so you would need to know what his mentors Milton Friedman & Anna Schwartz wrote about “The Great Contraction” in their magnum opus ‘A Monetary History of the United States’.

They didn’t blame the Fed for causing the Depression, they faulted the 1930s Fed for paralysis as banks collapsed from runs and for failing to provide massive amounts of liquidity to halt the resulting deflation.

Bernanke took those lessons to heart and in 2008 the Fed began providing huge amounts of money to banks that were under pressure from the collapse their mortgage paper.


76 posted on 12/30/2018 10:19:33 PM PST by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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