Greenspan implies we don't need central bank

[rocksteady]

A very interesting interview in which Greenspan praises the gold standard, says that artificially low interest rates can cause the business cycle, and suggests that we could do without a central bank provided we also get rid of fiat money. Hey, this guy should be Fed chairman! (For the good stuff, go to 6 mins into the vid.)

hopefully this lends some extra credibility to Ron Pauls ideas on fiscal policy...

forgot to add the video:
To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.

[Umbrex]

hopefully this lends some extra credibility to Ron Pauls ideas on fiscal policy...

forgot to add the video:
To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.

i dont know how to say this nicely..

but u americans are idiots.. its your constitutional right to coin money, but in 1913 u gave that away to international bankers..

ur income tax now goes solely to pay the interest on it.

greenspan implies it, while everyone should know!

[thod]

but u americans are idiots.. its your constitutional right to coin money, but in 1913 u gave that away to international bankers..


But they do coin money in the US. They print it by the truckload. Another ship full of chinese training shoes docks, hold on, we are just going to go print some more dollars to pay you. Not suprising they dont want any more dollars. Everyones got enough, give us something of some value. At least with the gold standard if you havent got the gold you cant have the goods. The US consumers go without training shoes and the chinese workers lose their jobs so they both want to keep it going.

It is all artificial off course. The big losers are cash savers they see their assets decline year on year. If they buy assets instead they see the dollar value of them go up. So if they bought a ounce of gold for $20 and can now sell it for $100 the government says you made $80 profit, give me some tax. Of course you didnt, you still have an ounce of gold. All that is happened is money has declined in value.

[Tsuru]

i dont know how to say this nicely..

but u americans are idiots.. its your constitutional right to coin money, but in 1913 u gave that away to international bankers..

ur income tax now goes solely to pay the interest on it.

greenspan implies it, while everyone should know!

It's not exactly the most reasonable of opinions to classify an entire citizenry stupid due to the actions of politicians in 1913, the 30's, and 70's respectively. Nobody voted for it except the politicians involved, and it's something of an obvious con job since none of them ever explained to voters before hand that it was part of their election platform.

Even coming from an embittered elitist like myself, you can't really expect the average person to be well read on monetary policy. It's all gone largely under the radar. A handful of politicians progressively and relatively secretively decided to plunder the savings of US citizens and ravage the future economic security of the US for the expediency of the moment, with no national dialog or real debate. Which is what makes it so insidious. It's going to be very tragic when the US dollar crashes at some point all due to the short-sightedness of some nasty politicians that wanted quick fixes to their inability to actually produce any value themselves.