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« Watch Bernanke Lie To Congress: Monetizing The Debt | Main | Meet Dave Spence: The Missouri Candidate For Governor Who Won't Pay Back His Bank's $40 Million TARP Bailout »

Ron Paul Gets Bernanke To Admit To Monetizing The Debt

Paul asks Bernanke about QE2, and monetizing the debt.  Runs 20 seconds.

Bernanke nods in agreement.

"I want talk about monetizing the debt.  You mentioned in your statement that you bought MBS and agency debt.  And that's over $1.3 trillion.  Well, where did you get the money?  You created the money.  So you did monetize the debt."

Hmm, yesterday we showed Bernanke testifying under oath that he was NOT monetizing.

Watch: Bernanke Lies To Congress On Monetizing The Debt



The full exchange from 4-14-2010:

On debt monetization, the Greece bailout, and who's funding the IMF.


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Reader Comments (5)

HELL FREEZES OVER - Romney Tweets His Support For Ron Paul And 'Audit The Fed'

Sep 15, 2012 at 12:02 PM | Registered CommenterDailyBail
BTW, whenever I access the site, I get an error message related to this: "Script: http://ct5.addthis.com/static/r07/core036.js:2"

That's on two different computers -- one's a Mac and the other is a PC. It makes it really hard to load the page and I'd hate to think it's keeping readers away.
Sep 15, 2012 at 1:39 PM | Unregistered CommenterPitchfork

Let's run a check.

Log out from the site. Close all windows. Clear your cache. Then try dailybail.com again. Let me know if you still have a problem. I just removed all the AddThis code except for the stuff on the left side of the page. If you still have the issue I will keep removing parts until we figure it out.

Is anyone else experiencing any difficulty with the site?

And do you like the new floating share buttons on the left, or not like them?

Sep 15, 2012 at 2:30 PM | Registered CommenterDailyBail
Ron Paul: 'The Fed is saying that we have lost control'

“Short of getting rid of the Fed, which is not going to come and I wouldn’t do that overnight anyway, I would say that Congress has the authority to say, do not buy debt. Do not buy any debt. The Congress can yell and scream and pander to the people. They can say the deficits are terrible and terrible. But nobody wants to cut overseas spending or food stamps for the poor. They say, ‘we cannot do it without the Fed. The Fed has to buy this debt.’ That is a moral hazard for the politician,” Rep. Paul said.

“If the Fed couldn’t buy the debt, and interest rates would rise all of the sudden the burden would be on the Congress to get their house in order to restore confidence. Even that would panic a lot of people because live within your means? We do not like that. We like this idea that we can give people anything they want for free, so we can get reelected. Well, all of this is coming to an end.”

Sep 15, 2012 at 4:20 PM | Registered CommenterDailyBail
4/22 Philly End the Fed march: Market Street

Sep 15, 2012 at 5:59 PM | Registered CommenterDailyBail

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