"It is very, very important for Congress and administration to come to some kind of program, some kind of plan that will credibly show how the United States government is going to bring itself back to a sustainable position." - B. Bernanke
In the article, Bernanke says that the Federal Reserve is not going to "monetize the debt"
That is all the banking system does - monetize debt.
What a joke.
Monetizing the debt = making debt the money.
Every time a loan is made - that is debt and that is money in the system.
Debt IS what we use for money.
How stupid is that?
What are you doing about it?