I want you to listen carefully to what Mitt Romney said is the biggest problem in our country.* A response to a question listen to what he says about the Federal Reserve.
Yeah, its interesting the former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that were issuingwhich theyve been doing, the Feds buying like three-quarters of the debt that America issues. He said, once thats over, he said were going to have a failed Treasury auction, interest rates are going to have to go up. Were living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder whos loaning us the trillion? The Chinese arent loaning us anymore. The Russians arent loaning it to us anymore. So whos giving us the trillion? And the answer is were just making it up. The Federal Reserve is just taking it and saying, Here, were giving it. Its just made up money, and this does not augur well for our economic future."
The section of Mitt Romney’s “gaffe” tape you haven’t heard – Glenn Beck
Yeah, its interesting the former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that were issuingwhich theyve been doing, the Feds buying like three-quarters of the debt that America issues. He said, once thats over, he said were going to have a failed Treasury auction, interest rates are going to have to go up. Were living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder whos loaning us the trillion? The Chinese arent loaning us anymore. The Russians arent loaning it to us anymore. So whos giving us the trillion? And the answer is were just making it up. The Federal Reserve is just taking it and saying, Here, were giving it. Its just made up money, and this does not augur well for our economic future."
The section of Mitt Romney’s “gaffe” tape you haven’t heard – Glenn Beck
