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Greenspan Wants To Get Rid Of Central Banks


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Fox News: "So then why do we need a central bank?"

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 it's 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 economic activity."

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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 economic activity.[/i]"

How about a head FED banker with a shred of honesty when he is actually in his post?

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  • 4 weeks later...
There's a theory that Greenspan is the ultimate gold bug, and has deliberately condemned the fiat system to death in order to ensure the use of a gold standard in the near future!

All makes sense if you think that oil is running out - so go from the petro dollar to the gold backed Amero.

Ahhh - thats better - the yanks are still in control.

HAL

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  • 1 month later...

http://www.reuters.com/article/businessNew...NAS648820080115

Alan Greenspan to join hedge fund

BOSTON (Reuters) - Hedge fund manager John Paulson, who earned billions of dollars last year by betting against the housing market, said on Tuesday that former Federal Reserve board chairman Alan Greenspan will advise his firm.

Greenspan, whose words can still move financial markets, will advise Paulson on the global economy for an undisclosed amount of money, the hedge fund said in a statement.

By joining the New York-based fund, Greenspan becomes the latest former Washington insider to work in the fast growing $2 trillion hedge fund industry. Former Treasury Secretaries Lawrence Summers and John Snow provide advice to D.E. Shaw and Cerberus.

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Greenspan has said that he prefers gold standard over fiat, I think he even said gold is real money or something to that effect. Heres an interesting link and I'll also post it in full on the "gold" thread, its from 1966 and Greenspan explains his view of gold and the economy....its long but worth a read

The Original: http://www.constitution.org/mon/greenspan_gold.txt

The post on HPC: http://www.housepricecrash.co.uk/forum/ind...st&p=927590

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This is probably not far from the truth. It's either that or he is unimaginably stupid.

Al invited me recently for a wee dram of smoky Caol Ila, and as we drink we start talking about bullion. After an hour or so during which he shared his financial wisdom with me, he showed me a 'tiny' stash (his words) he always carries with him (his chauffeur, to be precise). I was quite impressed.

The rest, he said, was all safely stored in Switzerland and Venezuela, where he has a finca not so many of his fellow Americans know about.

OK, OK, just kidding. :lol: :lol:

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Al invited me recently for a wee dram of smoky Caol Ila, and as we drink we start talking about bullion. After an hour or so during which he shared his financial wisdom with me, he showed me a 'tiny' stash (his words) he always carries with him (his chauffeur, to be precise). I was quite impressed.

The rest, he said, was all safely stored in Switzerland and Venezuela, where he has a finca not so many of his fellow Americans know about.

OK, OK, just kidding. :lol: :lol:

You should have offered him some of this :lol:;)

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