Fed Denies Link to Watergate, Iraq’s Saddam Hussein

Fed Denies Link to Watergate, Iraq’s Saddam Hussein

During the same 2010 hearing with Bernanke that sparked the investigation on Iraq and Watergate, Rep. Paul also asked if the Fed had the power to purchase foreign debt and bailout foreign countries. Bernanke reluctantly agreed that it did, but he denied that those powers would be used.
“Yes, that’s true, but we have no plans whatsoever to be involved in any foreign bailouts or anything of that sort,” he claimed. That later turned out to be completely and entirely false, as shown by the Fed’s own documents.
Much of the so-called “mainstream media” celebrated the recent Fed report, absurdly claiming that Rep. Ron Paul’s “conspiracy theories” had been “debunked.” Of course, nothing of the sort actually happened – Paul critics simply seized on questionable answers to two minor questions among many that he asked during the hearing. Questions based on extensive research by experts and numerous reports hardly constitute “theories.”
Dr. Paul’s office, meanwhile, was still not entirely convinced by the Inspector General report, either. "Prof. Auerbach has indicated that he is not at all surprised that an inspector general appointed by the chairman of the Federal Reserve would fail to find any evidence of wrongdoing on the part of his bosses, and in fact, would omit or overlook key pieces of evidence in his investigation," Paul's communications director Rachel Mills said in a statement.