Perry threatens Bernanke: ‘Almost treasonous’ to print money

[Playinghardball]

Source: Think Progress - Raw Story
By Stephen C. Webster

Texas Gov. Rick Perry (R) appears to be taking a cue from Rep. Ron Paul (R-TX) and criticizing the Federal Reserve for doing what it was designed to do: creating currency.

At a recent fundraising event in Iowa, Perry was asked how he feels about the Fed and chairman Ben Bernanke. ‘If this guy prints more money between now and the election, I dunno what y’all would do with him in Iowa, but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treasonous in my opinion.”

What he’s referring to is a Fed practice known as quantitative easing, where central banks inject additional currency into the economy in times of low activity by purchasing assets from other banks. The policy is meant to keep economic activity high when recession conditions might otherwise prevail, but it also increases the price of bank holdings.

Paleoconservatives like Ron Paul and, to a much smaller extent, Rick Perry, tend to view central banking as antithetical to the U.S. economy. That’s because in a bygone era dominated by very different economic rules, monetary value was much more closely aligned with the price of gold, so creating more currency had a deflationary effect on a currency’s overall value. That’s not the case today with most of the world’s currencies being fiat, where value is pegged to broader economic indicators like gross domestic product or the value of assets like public infrastructure and military hardware

Read more and see the video at: http://www.rawstory.com/rawreplay/2011/08/perry-threatens-bernanke-almost-treasonous-to-print-money/

[Hubert Flottz]

1. Ricky wants to be your new Fuhrer...

so he can take up the dictatorship where Cheney left off.

[shraby]

2. Perry needs to be told it's almost treasonous to threaten to

secede from the Union.

[aquart]

3. "Almost"?

[banned from Kos]

4. there are quite a few anti-Fed Ron Paul goldbugs that post here

little do they know.

[Renew Deal]

5. Does Perry really believe the Ron Paul stuff or is he just shooting his mouth off.

I think it's the latter.

[JVS]

6. The secessionist calls the treasury acting within its constitutional rights treasonous

:rofl:

[Johonny]

7. Being the new "sane" candidate lasted 1 day. Let the fun begin.

[Inuca]

8. COmments about this from MSNBC

"First read":

*** And did his remarks hurt him -- or help him? Those comments -- especially those regarding the Fed -- must be making some folks on Wall Street and in the GOP establishment very nervous right now. Bernanke, after all, was an original Bush appointee. The question becomes: Do Perry’s remarks disqualify him among some in the GOP establishment? Or is this where the Republican primary voters are right now? Perry supporters will argue that he was joking and simply Perry being Perry. The importance of getting establishment money and support will be known later today if somehow we hear the slightest walk-back of the Bernanke comments. Bottom line: We got a glimpse of the Perry that some Romney supporters believe will be the Texan's undoing. It also won't quiet the Ryan-Christie speculation.

[dtexdem]

9. What, Bernanke isn't treasonous enough for Perry?

Since, after all, successionist Perry is fully treasonous.

[emulatorloo]

10. The Male Palin, only stupider and meaner.

[Proud Liberal Dem]

11. Does he even know what he is talking about?

I doubt it personally. :crazy: With comments like that, it makes me feel a little less worried about him possibly winning the Republican nomination (and being a rigged election away from the Presidency). I have a feeling that Republicans will have to nominate somebody who is batshit insane enough to keep the teabaggers frothing-at-the-mouth-excited to vote next year.

[tsuki]

12. Does little Ricky think that if he points his finger often enough and

yells "traitor, traitor, traitor" that people will forget he talked succession. Last time I looked that was traitorous.

[banned from Kos]

13. Makes sense for a Confederate - the North "printed" money via the Greenback

to finance the Civil War. This was at a time we had no central bank. That Keynesian infusion doomed the South.


Rick W. Perry is still fighting the Civil War.

[Scurrilous]

14. K & R

:thumbsup:

[Safetykitten]

15. Guess what? The Fed is not that poular. Perry is running for president.