Monday, August 8, 2011

Greenspan is Pro-Printing Press

Former Federal Reserve Chairman, Alan Greenspan, appeared on MSNBC's meet the Press where he made a shockingly blatant statement that is sure to make its way around the 'Net at lightning speed.

What makes this ironic, is that many free-market and Austrian economists believe Greenspan's policy of taking interest rates to historic lows at the Fed were responsible for the subprime mortgage and credit crises and the bubble in the real estate and stock markets which culminated in the 2008 market meltdown and real estate crash. In fact, Time Magazine placed him 3rd on a list of 25 people to blame for the financial crisis, and this is probably so.

While Greenspan has spent much of his time since the crisis attempting to rewrite history and his participation in the worst economic downturn since the Great Depression, mainstream media appearances such as this one will not liekly do much to help his efforts.

In this MSNBC interview, Greenspan was asked, "Are US Treasury bonds still safe to invest in?" You have to listen to his answer to believe it. Greenspan sits there and utters a single sentence that basically says what no dollar-debt holder wants to hear: We will devalue your debt into the ground by cranking up the printing presses.


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