Rick Santelli rips Geithner on monetizing

WAR of WORDS:

GEITHNER: There's no risk of that in the United States because, again, we have a strong independent central bank whose obligation under the law is not just to achieve maximum sustainable growth but to keep inflation low and stable over time. And I know the chairman is completely committed to that.

SANTELLI: Are we monetizing? And his answer was no, we have a strong independent central bank. Now, the latter may be true, but it certainly isn't an answer to the question. And I'd like feedback everybody, that quantitative easing can't exist without the monetization process. We issue debt, we print the money to buy it. That is monetizing. I can't believe that was his answer. It's pretty disingenuous. If that's the Treasury Secretary in charge of all this activity and that was his answer, it makes me nervous. Blatantly saying they're not monetizing when the March statement for the first time ever expressed quantitative easing and put it on the map, I just think that that's the wrong answer. He's not telling the truth!


IN THE NEWS:
RealClearPolitics: Santelli: Geithner Is "Lying To The American Public"
RushLimbaugh: Santelli: Little Timmy is a big liar