With one eye on a mess of intraday charts and the other on CNBC, I caught this exchange yesterday between two people that can only be described as polar opposites-Ron Paul and Ben Bernanke. It was classic-if you’re a Fed nerd like me.
Congressman Paul, as you might expect, was busy letting the Fed chief have it for his continued devaluation of the dollar. In fact, at one point Paul practically accused the Fed of stealing people’s money.
"There is a dollar crisis out there and people’s money being stolen," Paul said. "People who have saved, they’re being robbed. I mean, if you have a devaluation of the dollar at 10 percent, people have been robbed of 10 percent."
Bernanke, of course, gave his usual canned answer about price stability and the economy, but the look on his face was priceless.
It reminded me of that commercial.
You know the one…Want to get away?
Paul, of course, nailed it.