Filed under Stories My Mother Never Told Me.

Ron Paul faces off with Ben Bernanke on the Federal Reserve fraud (yes, you didn’t read that much in the press, did you? How would you, when the same crew that owns the government owns the media).

“Paul countered that by putting more money on the market, Bernanke and the Federal Reserve are devaluing the dollar and robbing from Americans.

“There’s a dollar crisis out there and people’s money is being stolen; people who have saved, they’re being robbed. I mean, if you have a devaluation of the dollar at 10 percent, people have been robbed at 10 percent. But how can you pursue this policy without addressing the subject that somebody’s losing their wealth because of a weaker dollar? And it’s going to lead to higher interest rates and a weaker economy.”

Bernanke argued that since Americans use dollars to buy their goods here in America, a devalued dollar will make imported goods more expensive.

Paul shot back, rounding out his five minutes of questions, “Yes, but not if you’re retired and elderly and you have CDs and their cost of living is going up no matter what your CPI says. Their cost of living is going up and they are hurting.”

It was an interesting exercise in theory, but Paul, even if he were to be elected president, probably would not have the votes in Congress to revamp the financial system, much less abolish the Fed.”

A reason perhaps why none of this made wire or newspaper accounts of the hearing, all of which focused on Bernanke’s contention that despite an intensifying slump in the housing market, slower than expected growth and higher inflation, he does not believe the country is headed for a recession and tried to divine where Bernanke’s testimony signaled another interest rate cut.”

Read the rest at ABC.