"Monetization would involve a permanent increase in the money supply to basically pay the government's bills through money creation. What we're doing here is a temporary measure which will be reversed so that at the end of this process the money supply will be normalized, the amount of the Fed's balance sheet will be normalized and there will be no permanent increase either in, ah, money outstanding in the Fed's balance sheet or in inflation."
See for yourself:
Now this begs the questions -
HAS ANY GOVERNMENT OR DIRTY PSEUDO/FAKE-GOVERNMENT AGENCY EVER MONETIZED DEBT WITH THE GOAL OF IT BEING A PERMANENT MEASURE?
BECAUSE HE SAYS IT'S TEMPORARY DOES THAT MEAN IT'S NOT MONETIZATION?
Here are a few websites with the definition of debt monetizing. I don't see the word permanent referenced anywhere:
Paying off government debt by printing more money. Leads to inflation
(1) To convert government debt from interest-bearing securities into money. Although both the securities and the money are considered government debt, the latter can be used to purchase goods and services. Thus, monetizing the debt is considered an inflationary process and, although it may temporarily depress interest rates, it is likely to result in higher interest rates and lower bond prices in the long run.
(2) In government, to print money in order to repay the national debt. For example, suppose a government is $1 trillion in debt. Theoretically, the government can simply expand the money supply by $1 trillion and reduce the national debt to zero. It is not uncommon for governments monetize their debts, but because it increases the amount of money in circulation, it is considered highly inflationary.
expansion of bank deposits through purchases of government securities by commercial banks
The scary thing is that first they change the definition of is, then they change the definition of debt monitization so don't be surprised at all when they change the definitions of 'freedom', 'liberty' and 'democracy'. Because what you're witnessing is the destruction of all three.