Congressman: "Are You Printing Money?" Bernanke: "Not Literally"

[randomname]

The following brief exchange between a congressman and Ben Bernanke pretty much wins today's Humphrey Hawkins farce.

Q: Are You Printing Money?
Bernanke: Not Literally

Everyone can go home now.

http://www.zerohedge.com/news/2013-07-17/q-are-you-printing-money-not-literally

[tsai3904]

After Bernanke's answer, the Congressman didn't even follow up to make a point.

[FindLiberty]

"...we just click the mouse a couple times and hit the ENTER key"

[Occam's Banana]

Q: Is your head up your ass?
Teh Bernank: Not literally.

(h/t Ray1968 @ Zero Hedge)

[TaftFan]

To be fair that is a pretty stupid question.

[eduardo89]

The Federal Reserve does not print money. Federal Reserve Notes are printed by the Bureau of Engraving and Printing, which is an agency within the Treasury Department.

[ghengis86]

The Federal Reserve does not print money. Federal Reserve Notes are printed by the Bureau of Engraving and Printing, which is an agency within the Treasury Department.

And who instructs the BEP on how much money they can print?

[eduardo89]

And who instructs the BEP on how much money they can print?

http://static3.businessinsider.com/image/4cfe61dbcadcbbb458010000/16-questions-for-dr-bernanke.jpg

[heavenlyboy34]

The Federal Reserve does not print money. Federal Reserve Notes are printed by the Bureau of Engraving and Printing, which is an agency within the Treasury Department.
The BEP doesn't print money either. It prints FRNs.

[ghengis86]

The BEP doesn't print money either. It prints FRNs.

Well, don't they mint gold and silver coins as well? That's the only 'real', constitutional money

[ghengis86]

http://static3.businessinsider.com/image/4cfe61dbcadcbbb458010000/16-questions-for-dr-bernanke.jpg

That beard...so...mesmerizing...

[eduardo89]

Well, don't they mint gold and silver coins as well? That's the only 'real', constitutional money

No, all US coins are minted by the US Mint, not the BEP.

[ghengis86]

No, all US coins are minted by the US Mint, not the BEP.

True. It's under the Treasury as a deprecate entity. And it only mints legal tender coins for the Treasury's account.

http://en.m.wikipedia.org/wiki/United_States_Mint

[ghengis86]

"...we just click the mouse a couple times and hit the ENTER key"

Pretty much.

Credit treasury account $23 Billion --> execute

And that little Timmy, is how we turn 1's and 0's into FRNs!

[FindLiberty]

;->

[paulbot24]

That beard...so...mesmerizing...

"Worthless currency. I guarantee it!"

[FrankRep]

Q: Is your head up your ass?
Teh Bernank: Not literally.

(h/t Ray1968 @ Zero Hedge)

lol, indeed.