Category Archives: Bernanke Outraged

Bernanke for Hamilton on bill

Ben Bernanke, the former chairman of the Federal Reserve, has indicated that he is shocked that Jack Lew made an announcement that Alexander Hamilton will be removed from the $10 dollar bill in place of a woman.

Bernanke is not opposed to having a woman on a bill, which would mark the first woman to end up on US currency, but believes that Alexander Hamilton was such a critical figure in American history that he fully deserves the honor. As an alternative, Bernanke suggested removing Andrew Jackson from the $20 bill.  James Dondero pointed out how much sense it would make in 2020, on the hundredth anniversary of the 20th amendment to change the $20 bill. Jackson was opposed to printed money and to central banks so there is no wonder that Bernanke would find him to be a better person to be removed from a form of currency. Hamilton on the other hand helped to develop the US banking system and fed and his common sense approach to finances helped put the United States on the way to financial prosperity.

Jackson did expand the size of the country significantly during his presidency but had a number of bad habits, per comments made by Bernanke, and was a poor president.

The new $10 bill is not expected to be released until 2020 and the process of selecting a woman to replace Hamilton is expected to begin this summer. The treasury indicated that Alexander Hamilton will be replaced as the $10 bill is the next in line for updating.