If It Weren't for War, Bernanke Would Have No Argument

Town Hall ^ | Bill Tatro

[WPaCon]

Oh, to be back as a freshman at George Washington University.

What I wouldn’t have given to be once again sitting in the economics classroom as Professor Ben Bernanke took to the podium with the intention of lecturing and reshaping young minds regarding the history and mission of the central bank.

I would have been awed by the Chairman’s (I mean Professor’s) attack on the gold standard and duly impressed with his grasp of events and reasons for the Great Depression of the 1930s.

After all, he is the self-proclaimed expert on that era.

In addition, I would have been watching very closely for the signs that inspired David Blanchflower, a Dartmouth economist, to refer to Bernanke as another Winston Churchill, one of my historical mentors.

When it was time to ask questions, my hand would have risen several times.

If a bank is in trouble, I would have asked why can’t depositors get their cash without a central bank? What happened to both the FDIC and the U.S. Treasury?

Keeping my hand raised, I would have stated it was a waste of time mining gold in order to transport it to the basement of the New York Fed.

I thought the gold standard was just that, a standard by which currencies are measured and not a measure of who has the most gold.

But maybe that confirms what someone said years ago, that there just isn’t anyone who really understands how the gold standard works.

[Paperdoll]

Everyone should read “Battle Hymn....the sinister New World Order”, by Dane Phillips and John Scouris.

[Paperdoll]

Everyone should read “Battle Hymn....the sinister New World Order”, by Dane Phillips and John Scouris.

[Tublecane]

“If It Weren’t for War, Bernanke Would Have No Argument”

I couldn’t very well follow this article’s staccato argument, if it was an argument. I only hope it doesn’t buy into the old “WWII got us out of the depression” claptrap. It didn’t.

[WPaCon]

Neither could I to be honest.

I thought someone here could elaborate on what he meant.

[hosepipe]

Demoralization- http://www.youtube.com/watch?feature=player_embedded&v=_Iz3VjoHXLA

[iceskater]

Hey Bernanke, you big dope, being and expert on the Great Depression doesn’t mean you’re supposed to re-create it.

[mjp]

Bernanke contended the government did not respond adequately and did not provide enough liquidity during the Great Depression, a mistake HE won’t repeat at this point in time.

A monetary contraction was the precipitating cause of the mass unemployment of the The Great Depression, which was then perpetuated by govrnment interference in the labor market, which prevented the fall in wage rates necessary to eliminate the unimploynent.