Romney slams the Fed in the infamous secret tapeSubmitted by douglass on Thu, 09/20/2012 - 11:42
While everybody in the progressive media are having orgasms over the 47% comment, watch the whole tape. Don't let the media divert your attention. Here's what he says:
Romney: Yeah, it's 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 we're issuing—which they've been doing, the Fed's buying like three-quarters of the debt that America issues. He said, once that's over, he said we're going to have a failed Treasury auction, interest rates are going to have to go up. We're living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder who's loaning us the trillion? The Chinese aren't loaning us anymore. The Russians aren't loaning it to us anymore. So who's giving us the trillion? And the answer is we're just making it up. The Federal Reserve is just taking it and saying, "Here, we're giving it.' It's just made up money, and this does not augur well for our economic future.
Me personally, I still don't trust Romney. Just because he says one time, behind closed doors that he seems to recognize the threat that the federal reserve faces, who can trust it? Let him openly slam the fed, let him openly and routinely talk about the printing money and destroying the dollar. Not behind closed doors, not one single lone time, like a wimp.