Ron Paul Asks Tim Geithner: 'Why Doesn't The Fed Eliminate The Middleman And Just Buy Debt Directly From The Treasury?"
Ron Paul v. Tim Geithner - House Testimony - July 25
Ron Paul's point is that the Fed has been and continues to monetize the national debt, despite Bernanke's ridiculous denial on 60 Minutes, and so why not drop pretense and have the Fed buy directly from the Treasury, eliminating profit for the broker dealers.
Geithner, the bank protector, does not like the idea.
Start watching at the 2:25 mark. Runs about 3 minutes from there.
More from Geithner's testimony:
- VIDEO - Geithner Gets Blasted By Congress: "How Can A Number That You Know Has Been Manipulated Possibly Be The Best Choice For Bailouts?"
- Tim Geithner Admits Banks (And AIG) Were Bailed Out At Rigged Libor Rates, Costing Taxpayers Billions