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Wednesday, July 17, 2013

White man (Bernanke) speaks with forked tongue, but he’s Jewish and Mike Wallace said Jews aren’t white

Morgan Freeman interviewed by Mike Wallace

What did he say? This is from the WSJ:

Bernanke Admits To Congress: We Are Printing Money, Just 'Not Literally'

WASHINGTON, DC - JULY 17:  Senate Banking, Hou...

Bernanke and Congress: face to face - Image credit: Getty Images via @daylife

In his semi-annual testimony before the House Committee on Financial Services, Fed Chairman Ben Bernanke was very clear about how the central bank engages in quantitative easing.  We are printing money, just not literally, the Chairman told policymakers, while contradicting himself regarding recent record highs in stock markets, first attributing them both to the strength of the economy and the impacts of monetary policy.  The market didn’t seem to care, rallying tepidly upon the release of the prepared remarks and remaining range-bound through most of the session.

“Where does the Fed get the money to buy [assets],” Congressman Keith Rothfus asked the Chairman.  “Do you create the reserves,” he queried in a follow up, receiving a simple “yes” from Bernanke.  And finally, the money shot: are you printing money? “Not literally,” the Fed Chairman surprisingly responded.

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