Tuesday, June 7, 2011

The Bernank: We Couldn't Have a Currency Without Selling Treasuries

Its only Tuesday morning, but man it feels like a Friday already.  Time to lighten the mood with some classic Bernank.
The Bernank- "We couldn't have a currency outstanding if we didn't have treasury securities to back it up"
Senator Kirk-"Although I would say we had a currency for many parts of our history without any debt"
The Bernank- "uhhhm........................when was that?"

Classsssic!