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Koch’s FreedomWorks Target Fed Chairman Bernanke

March 2, 2011

I told you these guys are applying the full court press engaging ALL their targets. FreedomWorks is just one more Koch funded lobbying group.

The Hill reports: A confidential memo, sent to legislative directors on Capitol Hill, leading Tea Party group FreedomWorks paints Bernanke as an evasive figure who will “run out the clock” on probing questions with “vague declarations and empty assurances.” A copy of the memo was obtained by The Hill.

The bulk of the memo consists of suggested questions for lawmakers, authored by Dr. Judy Shelton, the senior fellow and director of monetary policy at FreedomWorks. The group recommends lawmakers team up against Bernanke, preventing him from escaping answering questions by exhausting a single member’s time for questions.

The document includes several questions seemingly designed to test Bernanke, such as one asking how many ounces of gold the United States government owns. Shelton states in the memo that such information should be “fundamental knowledge for our nation’s top central banker.”

Another suggestion would have a lawmaker hold up a $100 bill and ask Bernanke what it would be worth in a decade if the economy experience two percent inflation each year. The answer is $82, the group said.

Another question would require Bernanke to state whether being the issuer of the world’s most prominent reserve currency is a privilege or a burden, which Shelton says could lead to a “thoughtful and revealing discussion….Mr. Bernanke’s response will rivet the attention of financial journalists and warrant global interest.”

The memo and Bernanke’s appearances on Capitol Hill come as the Fed has come under increasingly heavy political fire for its recent policy moves.

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