I am now in a position to reveal Ben Bernanke’s job interview with the President prior to Bernanke’s appointment as Chairman of the Federal Reserve Bank:
President: You realize, Mr. Bernanke, that the enormous powers of the Federal Reserve necessitate your disguising your intentions, to prevent profiting by speculators. Tell me, can you talk out of both sides of your mouth?
Bernanke: Yes, sir. I've been taking lessons.
President: Good. Can you keep a straight face while talking in riddles?
Bernanke: I've always been able to do that.
President: Fine. Now, one more thing: Some people think that the government's monopoly of the money supply is pernicious. They suggest that the people should be allowed to choose which of competing currencies are the most convenient and which best hold their value. They believe that the Federal Reserve Bank should cease to exist. When these suggestions are made, are you prepared to fight like a cornered lion?
Quietly unsheathing his claws, Bernanke touched the President's arm.
President: Ouch! That will do, Mr. Bernanke. You've got the job.
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