Market Ticker commentator Karl Denninger provides evidence that what Ben Bernanke says to Congress and the American people, and what he does in practice, are two different things:
I don’t know how long it’s going to be before our Congress decides that those who come in front of it, make statements, and then turn around and do exactly the opposite will be held to account for what appears to this market commentator to be clear evidence of perjury.
I also don’t know how long the foreign and domestic buyers of our debt, which we must have in order to fund our operations, are going to put up with what is obvious false statements.
And finally, I don’t know how long people are going to have confidence in our dollar when the chairman of our Federal Reserve goes in front of Congress and says that he will not monetize the debt of the United States and then just a short time later buys a very significant part of debt that was issued to fund our deficit spending less than a week prior.
This sort of nonsense, ladies and gentlemen, must stop.
Watch Karl Denninger’s Market Commentary:
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