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IPFS News Link • Federal Reserve

Bernanke Warns Deficits Threaten Financial Stability

06-03-2009 • Bloomberg.com

“Either cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation,” Bernanke said in response to a question. “The Federal Reserve will not monetize the debt.”

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Reported By Jack Gregson

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1 Comments in Response to Bernanke Warns Deficits Threaten Financial Stability

Comment by Ernest Hancock

Entered on: 6/3/2009 11:46:14 AM

There was comment by one of the legislators about 'The Federal Reserve not using some Act over the past 70 years... until now'.

I sure would like to know what that was about. Isn't that when FDR had the Bank Holiday and the FBI and IRS took everyone's Gold from them and replaced it with Federal Reserve Notes?

Here _it_ comes.

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