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Jeremy
09-29-2008, 08:23 AM
"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."

on Friedman's 90th

And Greenspan was (/is secretly) pro-gold-standard...

These people are smart... if only they were taught Austrian Economics... then again, if that was the case they'd never be Fed chairman

Truth Warrior
09-29-2008, 08:29 AM
"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."

on Friedman's 90th

And Greenspan was (/is secretly) pro-gold-standard...

These people are smart... if only they were taught Austrian Economics... then again, if that was the case they'd never be Fed chairman And Greenspan KNEW/KNOWS better too, but it sure didn't prevent his Fed SNAFUBARs. :p :rolleyes:

MsDoodahs
09-29-2008, 08:32 AM
Like most humans, Alan had a price...

Truth Warrior
09-29-2008, 08:34 AM
Like most humans, Alan had a price... Gotta pay the mortgage. :rolleyes:

Any "system" dependent on human reliability is inherently unreliable.