Jon Stewart catches Ben Bernanke in a lie about "printing money" video tape here

Discussion in 'Economics' started by retaildaytrader, Dec 9, 2010.

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  2. J.P.


    Very good. Thanks, retail, for posting that.
  3. S2007S


    Too Funny, Stewart even admits its to prop up the economy just as I have been mentioning since they started doing it. Thats why I continue to say that the economic growth the economy is experiencing is nothing but an illusion.

    How come no one else understands the problems that Bubble ben bernanke is causing, he is lying to the public, just like he did 2 years ago when he said the sub prime mortgage crisis was contained. This whole economy now is being pumped up with worthless dollars and lies.
  4. the1


    Absolutely he is lying. Just like Greenspan lied when he said he was "shocked" that a bank would risk its own equity by lending to unqualified borrowers.

    The media and those educated professionals of the general public saw this crisis coming but the Chairman of the Fed, who taught himself Calculus, scored a 1590 on the SATs, graduated from Harvard University, summa cum laude, and taught at Stanford, NYU, and Princeton, did not see this coming?

  5. olias


    Bernanke said 'In effect, we are printing money'. So technically it is not printing money. Therefore it's not a 'lie'.

    Still, pretty funny stuff there by Stewart
  6. Pekelo


    The point was that he contradicted himself 21 months later. Either then or now he had to lie.
  7. Bernanke is correct and he's not lying. Printing money describes a situation where the government or central bank holds a fixed amount of reserves (ie gold) and the bank note that's printed represents a part of this reserve. Under a fiat system money does not represent a fixed quantity of reserves and what the Fed is doing is increasing the reserves and not increasing the tokens which represent the reserves (ie bank notes).
  8. Daal


    Bernanke didn't lie, he 'effectively' lied
  9. Bernanke didn't lie at all. There's just a lot of misconceptions about the monetary system. One of those misconceptions is that increasing reserves is the same as printing money.
    #10     Dec 9, 2010