Greenspan's Slip: We Can Always Print Money

[AgeOfEnlightenmentSCP]

Former Federal Reserve Chairman confirmed what some people only say half- jokingly. The guy must be getting old:

www.realclearpolitics.com/video/2011/08/07/greenspan_us_can_pay_any_debt_it_has_because_we_can_always_print_money.html

Of course, printing money is a giant hidden tax the likes of which Americans have been paying every day as food and fuel prices skyrocket due to the falling value of the Dollar. The inflation tax has been raised to 40% to 100% on every purchase of food and fuel Americans have made over the last several years, to say nothing of the massive tax on their savings and investments. And some people call the www.fairtax.org regressive...

I had hoped the US would have the integrity to default, but we won't. We'll monetize the debt. And speaking of which- since we're charging Barry Bonds with perjury for lying to Congress-- how about we bring Bernanke up on the same charge because after all, he did promise in sworn testimony that the US would not monetize the debt.

[jarhead1976]

Then move onto congress and the president.

[BeenThere...DoneThat...]

...oh, this thread definitely needs some

[Deleted]

how about we bring Bernanke up on the same charge because after all, he did promise in sworn testimony that the US would not monetize the debt.

Paul haven't you learned yet that when someone in the government says something, make that anything....They cross their fingers?

The only tried & true method for telling if a government representative is lying is if you hear a sound coming from them.
(just so as to show that I'm not prejudice I'm sure that officials using sign language are lying too).

[AgeOfEnlightenmentSCP]

Paul haven't you learned yet that when someone in the government says something, make that anything....They cross their fingers?

LOL! I'll have to remember that if I ever end up on the stand.

[Trongersoll]

Maybe we should just arrest the S&P execs on charges of Treason.

[floridayankee]

Buffet hinted at the same thing in your other article. I thought Buffet was an idiot for even hinting at something like this. Greenspan is a flaming idiot for coming out and saying it. That's sure to put a lot of confidence back in the strength of the dollar. Can anybody say stagflation?

[fairlycrazy23]

I think Greenspan and Buffet are trying "downgrade" the effect of S&P, but I really don't think they want more and more people to understand fiat currency, I think there is a real chance the west could see a collapse of all of its currencies if we reach a critical point where too many people just decide that sovereign currency is worthless. It may not be a high risk but if people really understood that the FED has created out of nothing trillions of dollars just recently I think they might just start to worry that maybe if you can just print more of it then it isn't worth anything.

[AgeOfEnlightenmentSCP]

I don't think it's "decide" fiat currencies are worthless, I think it's more like "acknowledge the fact".

[handyman2]

Greenspan has made this comment before as a joke at the time. But now it is not a joke we are in effect doing just that.