Ron Paul Asks Tim Geithner: 'Why Doesn't The Fed Eliminate The Middleman And Just Buy Debt Directly From The Treasury?"

Sep 15, 2012 at 7:40 PM
DailyBail in Debt & Deficit, Tim Geithner, congress, congressional hearings, congressional video, fed, federal reserve, federal reserve, ron paul, ron paul, tim geithner, video

Ron Paul v. Tim Geithner - House Testimony - July 25

Ron Paul's point is that the Fed has been and continues to monetize the national debt, despite Bernanke's ridiculous denial on 60 Minutes, and so why not drop pretense and have the Fed buy directly from the Treasury, eliminating profit for the broker dealers.

Geithner, the bank protector, does not like the idea.

Start watching at the 2:25 mark.  Runs about 3 minutes from there.

• Fed Buying 61 Percent of US Debt

• Watch Jon Stewart Expose Bernanke's Lies On 60 Minutes

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More from Geithner's testimony:

• VIDEO - Geithner Gets Blasted By Congress: "How Can A Number That You Know Has Been Manipulated Possibly Be The Best Choice For Bailouts?"

• Tim Geithner Admits Banks (And AIG) Were Bailed Out At Rigged Libor Rates, Costing Taxpayers Billions

 

 

Article originally appeared on The Daily Bail (http://dailybail.com/).