You’ve probably heard the term quantitative easing. You might even have read news or blog articles about what it means. I’ve always thought all that blah-blah-blah about the Federal Reserve buying Treasury Bonds sounded a lot like printing money. How else do you explain a government essentially buying it’s own bonds? Think about it…
Don’t believe me? Well, let’s have Ben Bernanke explain it himself. Once while covering his butt, and once when it was okay to tell the truth. Via The Daily Show:
Hey, maybe it’ll turn out to be a good idea, but at least tell us the truth. Increasing the money supply is as you said Ben, “effectively” printing money.
By Jonathan Ping | Funny | 12/8/10, 3:04am