Bernanke Lies Under Oath re: Monetizing Debt

On June 3, 2009 Fed Chairman Ben Bernanke said the Fed would not monetize our debt. On November 3, 2010, the Fed announced the printing of $600-900 billion in new currency to purchase bonds/debt. You might be interested to know that the current world money supply of US dollars is $800 billion. The Fed just said it is going to double that. Printing money to buy debt is "monetizing the debt." America, we are screwed.

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[nottinmatterz2day]

WHO did he say that to? Where can I find the video where he says "will not monetize the debt"

[protocol66]

This was during The June 3, 2009 House Budget Committee Hearing. Can't post a link here, the video can be found at cspan . org, search for "Ben Bernanke" then scroll the results to find the June 3 video. There will be a link at the right that says "Video Playlist", click on the "from earlier, watch now link.

[ryanshaunkelly]

The same group of people

that find it so easy

to lie about 9/11.

[jalexander126]

Before this economic implosion is all said and done, Ben Bernanke's monetary policy will be responsible for more human deaths around the world, due to starvation, conflict and political unrest, than all of the murdering done by Stalin, Mao, and Hitler combined. Ben Bernanke is the Anti Christ, and no one forget it!

[danco35]

The Federal Reserve will amplify record accommodation tomorrow by announcing $45 billion in MONTHLY TREASURY BUYING that will push its balance sheet almost to $4 trillion at least through the first quarter of 2014.

We don't need China to buy our debt anymore, because the Fed is buying it with Monopoly money.

[ShefBill]

Yes....soon all the US Citizens will complete the transformation to become Global Comrades! We will crowd their CO2 emitting butts into the cities where we can totally control their movement, media, speech, etc. Once we bulldoze over their homes and they are successfully stacked and packed into cities, we will begin the re-education process. And they will march in order all in the name of controlling debt, safety and for the environment. Brooohahaha!

[CroatAndNettles]

I know no one beyond the beltway gets this, but monetizing the debt is what has made possible the enormous growth in the world economy since WWII, and will make possible even greater economic growth worldwide in the coming decades.

[razorac]

This is like listening to Bill Clinton's famous line "I did not have sexual relations with that woman, Ms Lewinsky." compulsive liars...

[unreallogic]

Its a QE2 no brainer

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