Jim Cramer Calls for Investigation of Federal Reserve

The Federal Reserve and their front man, Ben Bernanke, made an interest rate cut of 75 basis points yesterday (Jan.23). This cut comes after a week of plunging stock market numbers, in order to thwart a full-blown recession. However, the experts, such as Jim Cramer from Mad Money, of CNBC, has called this rate cut a farce. By cutting interest rates, the feds are only mildly prolonging an inevitable global recession (the European market is almost as bad as the American one), and taking money straight out of your bank account. With each cut, the dollar's worth plunges, all in the name of making the stock market numbers look a little better for the day. Bernanke, as has been made apparent through his frequent interest rate cuts, cares nothing for salvaging what is left of the dollar, but only to spike the economy for a little while longer, making the inevitable recession that much worse.

The Federal Reserve's actions might even be called criminal. While the majority of the press doesn't dare criticize the Federal Reserve, or Bernanke, Cramer has called for an investigation into the establishment itself, as seen in an interview with Cramer on TheStreet.com. "The Federal Reserve has been behind a great many of the economic booms and busts. The majority of the establishment press has been afraid to criticize the Federal Reserve and speak these intolerable truths," he said in that interview. Cramer even criticized Bernanke as having never worked on Wall Street before, and clearly "doesn't know what he is doing."

Cramer is taking a major risk coming out against the Federal Reserve, and calling for an investigation into their practices. He has said before that the Federal Reserve is more secret than even the CIA. An unlikely match has stemmed from Cramer's disgust with the Federal Reserve, and while animatedly criticizing them on CNBC, he has endorsed presidential candidate, Dr. Ron Paul, for his views on the central bank.