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Old 06-30-2016, 12:33 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,141
Greenspan says; return to the gold standard

"Remember that the period 1870 to 1913 was one of the most aggressive periods economically that we've had in the United States, and that was a golden period of the gold standard. "
"But speaking of crises, Greenspan warned that fundamentally it is not so much an issue of immigration, or even economics, but unsustainable welfare spending, or as Greenspan puts it, "entitlements." No kidding,, what about all the money spent on immigrants who will never work?
"Greenspan then went on to bash the false "recovery" narrative, warning that "the fundamental issue is the fact that productivity growth has ground to a halt."
No kidding, maybe that is because the bankers took all of our money.
" We are running out of people. In other words, everyone is very pleased at the fact that the employment rate is rising. Well, statistics tell us that we need more and more people to produce less and less. " He doesn't mention that GOV people like him produce nothing.
"Of course, Greenspan ignores his own role in the creation of the boom-bust cycle which has doomed the world to series of ever more destructive bubbles and ultimately, hyperinflation which will likely be unlashed once the helicopter money inevitably arrives."
"If we went back on the gold standard and we adhered to the actual structure of the gold standard as it exited prior to 1913, we'd be fine. " Gee, maybe we shouldn't have let the FED and central bankers take us OFF the gold standard. 1913, we got the FED. In 1920, Chairman Benjamin Strong started selling discounted treasury bonds on the secondary market,,, quite illegal. Congress made it retroactively legal rather than slapping down Strong. Just 16 years later, the FED had inflated the credit supply until we crashed in the Great Depression 1.
How can anybody expect a parasitic banker to run the producing economy?
Greenspan Warns A Crisis Is Imminent, Urges A Return To The Gold Standard | Zero Hedge
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Last edited by Danny B; 06-30-2016 at 12:35 AM. Reason: forgot the link,,, mis smellign
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