Federal Reserve

With Ben Bernanke testifying before Congress in an attempt to hold onto his job for another term, questions surrounding the role of Federal Reserve and Bernanke in the current economic crisis are being asked. Judge Andrew Napolitano (on the Fox News Channel) recently interviewed G. Edward Griffin, author of “The Creature From Jekyll Island”.  In that interview, Mr Griffin provides an explanation of how the Federal Reserve is able to loan money, virtually out of thin air, and discusses why not renewing Mr. Bernanke’s contract would likely have little if any positive impact on both the current economy and what lies ahead.