Bernanke Lowers Interest Rate, Another Blow To The Dollar 
  Wednesday, April 30th, 2008

The Federal Reserve and its Chairman Ben Bernanke announced through a statement on the Federal Reserve's website today that they will cut the key interest rate for America down to 2%.  The Fed believes this is a way to combat the recession.  As you may know, one of our top articles of this month was "Hey Bernanke, Ron Paul's Been Prescribing The Salve For Years," in which we compared Ron Paul's prediction of a recession (as early as back in the year 2000) to Bernanke's moves in the opposite direction of Paul's solutions.

With this latest news of yet another slash of the interest rate, Bernanke once again heads South of Ron Paul's recommendations at Joint Economic Committee hearings over the years.

"Does excessive credit and low interest rate cause malinvestment?  Artificially low interest rates that aren't market-driven?" Paul directed at Bernanke earlier this month.

Bernanke's answer was, "The question is, you know, the judgment about where interest rates ought to be, um, we have of course a mandate for maximum employment and price stability, we're trying to balance those, uh, those obligations, um, so, uh, we could make mistakes and put the interest rate at the wrong place, and that would have negative impacts, I agree."

Within the same month, the Federal Reserve held this two-day meeting, in which they decided to push the rate down to 2 percent, the lowest level we've had since 2004.

Great.  So we'll continue to borrow overseas, ship job overseas - because that problem, a source problem, is being ignored - and meanwhile we'll lower the interest rate again like a bandaid with an explosive device attached to it.  More money will be printed, contributing to the plummeting of the dollar's value, as Paul has warned in the past; at the very same time, inflation and prices are rising.  And in 2 years, 3 years, 10 years, everyone will scratch their heads and wonder how we went from being one of the most trusted currencies to being indebted to those whose currency we once dwarfed.  Oh wait, we already are.  Japan and China are the top lenders that have stepped in as our national deficit grows.

Dammit!  ConnieTalk wants a free market.  And a gold-backed currency.

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