On Thursday, December 3, 2009, Federal Reserve Bank Chairman, Ben Bernanke, went before the US Senate defending his job as head of the most powerful central bank in the world. He is up for reconfirmation for a 4 year term at the end of December.
It was one of the roughest cross-examinations by the Senate I have ever seen. Watching Mr. Bernanke explain himself, I almost felt sorry for him. I believe he is a good man, but unfortunately, as a Princeton professor, he is out of his league and out of touch with the world. In order to keep his job he cannot tell the truth. He is swimming in turbulent waters, filled with sharks from Wall Street and Washington, defending the most powerful people in the world, the group I define as the Conspiracy of the Rich (COR)
In my book, Conspiracy of the Rich: The 8 New Rules of Money, I stated that the idea of central bank was opposed by our founding fathers such as President George Washinton and Thomas Jefferson. It was Jefferson who stated over two hundred years ago:
"If the American people ever allow private banks (the Fed) to control the issue of their currency, first by inflation and then by deflation, the banks and corporations that grow up and around them will deprive the people of their prosperity until their children will wake up homeless on the continent their fathers conquered."
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