Content By: The Coming Depression Editorial Staff (dates cited below)
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Fed Chairman Ben Bernanke admitted the central bank created $1.3 trillion out of thin air to buy mortgage backed securities. This shocking admission came from the Joint Economic Committee hearing on Capital Hill last week. I was dumbfounded when I saw Bernanke shake his head in the affirmative as Representative Ron Paul said, “Well, where did you get the money? You created this money. So you did monetize debt, and that went into the banking system.” I was amazed he admitted this. I looked up the original hearing on C-Span to make sure the clip was not edited. It was not.

This entry was posted on Tuesday, May 25th, 2010 at 3:48 pm and is filed under All Posts, Video. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. May 26, 2010 @ 6:48 am

    It’s ok,paper money is a lie perpetrated by every government in the world.Now get to work for those pieces of paper.

    Posted by Down Syndrome Fetish

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