Jon Stewart interviews Greenspan about purpose of the Fed
From The Daily Show a few days ago, no mention of RP but definitely sounds like Jon Stewart is picking up on what he's been saying:
http://www.comedycentral.com/motherl...&is_large=true
If the direct link doesn't work, it's the 9/18 show and should be under Daily Show Interviews.
He was confronted the other day, this is a great video http://www.youtube.com/watch?v=S5wfNnV6vTU
So basically Greenspan's argument against the gold standard is that while it is a true market, it can "stifle the economy." And he is of the opinion that it is better to control the money supply, tax the non-investing working class with inflation, and increase the economy growth rate at the risk of completely screwing up and a resulting depression.
He admits, that even though he is obviously a very intelligent man, that he doesn't know everything, and people, including the Fed are bound to eventually make a mistake. My question is, to me it seems like a good idea to, everyone once in a while take a breather, and return to a gold standard. For instance, say I'm a very good gambler, I've been a the casino for 4 hours making money. It is rational at the point to just get up from the table. You know eventually that you'll get too cocky and make a mistake and end up losing everything. However, if you quit while you are ahead, cash in your chips, and take a break, I feel it is a much smarter way to play.
Then, once we are back on the gold standard, and people following the markets get a better grasp as to how people are really feeling, they could always reinstate the Fed and go gambling again, though personally I'm of the opinion that gambling is wrong.
Plus, I think Paul's position is the best. Allow competing currencies to exist with the Fed bank notes on the market. I am pretty sure the monitoring of such a market will be a better metric to judge people's true perceptions than the current Fed system.
Just some thoughts I had.
Truth forever on the scaffold, Wrong forever on the throne,--
Yet that scaffold sways the future, and, behind the dim unknown,
Standeth God within the shadow, keeping watch above his own.
Greenspan inadvertently makes the case why we shouldn't have a Fed. With all the monitoring of the economy that he did as Fed Chairman, he still isn't able to predict people's confidence in it.
A good viewing of the "Money Masters" will tell you that the problem with the Gold Standard was that the bankers, who's agenda was to re-institute the central bank, were monkeying around with it, creating booms and busts. The bankers fought like hell to prevent the silver to be used as backing, too.
I think its time to let privately-owned commodity vendors to compete with one another and let the market do its thing.
If you want less oppressive government, quit trying to expand it.
We have to get Ron Paul on the Daily Show and Colbert Report again. When the viewers see him for a second time they'll know he's serious.
Checkout Ron Paul's legislation, write your representatives and spread the word!
http://en.wikipedia.org/wiki/Legisla...ed_by_Ron_Paul
Lord of the Rings and Liberty: http://www.lewrockwell.com/carson/carson10.html
Not only that, but the hosts - Jon Stewart especially - are WAY more tuned in to the Ron Paul message and can facilitate a MUCH better show than the first one.Originally Posted by Richandler
Stephen Colbert, much as he wants to keep in character, accidentally gets real from time to time like he did last night with Naomi Wolf.
The old fart seems like a nice guy. Maybe he's just looking after our best interests. Like Bush.
Great video! I don't agree with Bernie Sanders on a lot of things, but his "question" for Greenspan was perfect...
I was just watching Greenspan getting interviewed on CSPAN2 BookTV and the interviewer tried to classify him as a right wing libertarian. Greenspan interjected and emphatically denied being right wing, he said he was libertarian.
Thought it was interesting. The interview is still on if anyone wants to watch.
Also thought this was funny:
Last edited by axiomata; 09-22-2007 at 06:17 PM.
Truth forever on the scaffold, Wrong forever on the throne,--
Yet that scaffold sways the future, and, behind the dim unknown,
Standeth God within the shadow, keeping watch above his own.
Posting Permissions
Reply With Quote