One of the first questions he was asked was in regard to the value of the USA dollar.
He stated the USA dollar value was determined by The USA Treasury Secretary.
Really?
Fed Plans to Inject Another $1 Trillion to Aid the Economy (click title to entry - thank you)
By EDMUND L. ANDREWS
Published: March 18, 2009
...Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fed’s measures in the last year....
So, if the USA Treasury Department sets the 'value' of the USA dollar, than printing all this money was simply putting more into circulation because the 'old stock' was wearing out, right?
I mean, according to Mr. Bernanke printing dollar bills had absolutely no effect on its value. So, if I recall what he stated at the time, "...to make sure everyone had what they needed to boost the economy."
What Mr. Bernanke has done chronically since the economic collapse of 2008 is print more dollar bills that has made it increasingly impossible to survive in the Middle Class of the USA.
