Paul asks Bernanke about QE2, and monetizing the debt. Runs just 20 seconds.
Bernanke nods in agreement.
"I want talk about monetizing the debt. You mentioned in your statement that you bought MBS and agency debt. And that's over $1.3 trillion. Well, where did you get the money? You created the money. So you did monetize the debt."
Hmm, but we showed yesterday that Bernanke testified under oath that he wasn't monetizing.
