I’m speechless. I have to write about monetizing the debt, which is where the Fed buys US debt that the rest of the world doesn’t want, which would be inflationary.  Here’s what I’ve got.

Clip 1:  Fed Member Fisher’s entry into the WSJ: Don’t Montetize the debt, May 23, 2009

Clip 2: Washington Times.  Mr. Benjamin Bernanke adamantly denies that would happen. "The Federal Reserve will not monetize the debt,"he said. "Either cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation." June 4, 2009

Clip 3: (CNBC Transcript via Clusterstock) June 2, 2009

LIESMAN:  Treasury is issuing over time and not so much time trillions of dollars of debt.  The Fed is buying $300 billion of treasuries (UNINTEL).  Why is this not the dreaded concept of monetizing the debt which so many economists would warn against?

GEITHNER:  There’s no risk of that in the United States.  Because again, we have a strong industry central bank, who’s obligation under the law is not just to achieve maximum (UNINTEL) growth but to keep inflation low and stable over time.  And I know the Chairman is completely committed to that.  And– he is– has the ability to make sure that as recovery takes hold, the Fed unwinds, as we will unwind. These exceptional measures we’ve had to take to help address this crisis.

Clip 4: Debt Chart of US Borrowing. August 7, 2009

Clip 5:. Evidence of debt monetization.  August 6, 2009

Absolutely. Speechless.

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Picture Via Bespoke Investment Group.