Greenspan on the Federal Reserve - Video

[steph3n]

This is a VERY telling video, Greenspan seems to like the idea of being without a Federal Reserve on the gold Standard so long as ti has a currency board to control printing of money.

http://www.youtube.com/watch?v=ZjMQG3qUFKo

maybe already posted, but search is disabled and google not showing this.

 

[CurtisLow]

To go right to it: 6:35 on the video player.

 

[plopolp]

"I strongly believe that we did very well in the 1870 to 1914 period with an international gold standard (without the Federal Reserve)"
- Alan Greenspan 2007

Wow!
He might endorse Ron Paul any time now!
That would create lots of confidence in RP among lots of people who today might think that gold money is some pre-historic mumbo jumbo.

 

[kylejack]

Gold and Economic Freedom. My suspicion is that he considered himself a mole trying to run it as well as possible, for what it was.

 

[plopolp]

He had said that he "emulated a gold standard". I don't think so!
But now retired he obviously wants to honor his old belief in the gold standard, and possibly contribute to its revival!

Who knows, he might wants to become Ron Paul's secretary of treasury...

 

[0zzy]

Dang, going back to his roots!

He should endorse Ron Paul!

 

[Gimme Some Truth]

Alan Greenspan :

" Well, the question is a very interesting one. We have, at this particular stage, a Fiat money which is essentially money printed by a government ,and its usually the Central Bank which is authorized to do so.
Some mechanism has got to be in place that restricts the amount of money which is produced , either a gold standard or currency board or something of that nature , because unless you do that ,all of history suggests that, inflation will take hold with very deleterious effects on the economy"


I think that is about as much of an endorsement for Ron Paul as you are likely to see.

I was waiting for the host to say "oh thats funny, what do you think of presidential candidate Ron Paul?" ...alas it never happened.


This video needs to get spread around ..and fast.

 

[kylejack]

Gah

 

[Delivered4000]

Alan Greenspan :

" Well, the question is a very interesting one. We have, at this particular stage, a Fiat money which is essentially money printed by a government ,and its usually the Central Bank which is authorized to do so.
Some mechanism has got to be in place that restricts the amount of money which is produced , either a gold standard or currency board or something of that nature , because unless you do that ,all of history suggests that, inflation will take hold with very dilutess effects on the economy"


Other than wondering whether "dilutess" is even a word , i think that is about as much of an endorsement for Ron Paul as you are likely to see.

I was waiting for the host to say "oh thats funny, what do you think of presidential candidate Ron Paul?" ...alas it never happened.


This video needs to get spread around ..and fast.

The word is deleterious

 

[Zydeco]

MEGA-BUMP -- somehow I missed this when it first came out a couple of weeks ago.

This is huge -- Ron Paul's effect is being felt all over the political spectrum! Greenspan backing a return to the gold standard and hinting strongly that he thinks we could do better without the Fed.

Folks -- next time someone in an online debate mocks going back to the gold standard, just cite this video and tell them Alan Greenspan agrees.

Amazing.