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Old 11-08-2007, 04:11 PM
CrushinFelt CrushinFelt is offline
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Join Date: Aug 2006
Posts: 2,071
Default Re: X-Post: Greenspan supports Gold Standard on Fox Business

You're definitely not understanding his quote and it's actually hilarious that you seem to be trying really hard to do so.

Let me simplify:

(1)

Q: Why do you play poker

A: To make money

Now, let's simplify it a little less with another example:

(2)

Q: Why do you play poker?

A: In order for one to make money he must either get paid to do a job, be a salesman, or play poker (the unspoken ending to this is "I chose to play poker").

DUCY? Gold Standard and currency board are just options of things necessary to control the inflation issues inherent to a system where the government prints money.

Now, substituting:

(1)

Q: Why do we need a central bank?

A: Because the gov't prints the money which leads to blah blah blah

(2)

Q: Why do we need central bank?

A: To control the inherent blah blah of a system where the gov't prints money we need something like a currency board or a gold standard (the unspoken end of this sentence is "we chose a central bank")

Now, I must be really bored at work to have typed all this out. I think it's also because I found it funny.
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