|
|
#21
11-10-2007, 12:38 AM
|
|||
|
|||
Re: Greenspan says we need a goldstandard.
[ QUOTE ]
Things not said in this interview: "We need a gold standard." Things said in this interview: Interviewer: "Why do we need the Fed?" AG: "With fiat money, you need a mechanism like a gold standard, a currency board, or some other mechanism to constrain the gov't's ability to print money." "I think we did well with the international gold standard around the turn of the century." [/ QUOTE ] yea this is hilarious. reading comprehension FTW! boro posted this in BFI and now OAFK posts it here. greenspand didn't say he supports the gold lstandard. he was answering a question about why we need the fed Barron 
|
|
#22
11-10-2007, 01:18 AM
|
|||
|
|||
|
Re: Greenspan says we need a goldstandard.
[ QUOTE ]
[ QUOTE ] Things not said in this interview: "We need a gold standard." Things said in this interview: Interviewer: "Why do we need the Fed?" AG: "With fiat money, you need a mechanism like a gold standard, a currency board, or some other mechanism to constrain the gov't's ability to print money." "I think we did well with the international gold standard around the turn of the century." [/ QUOTE ] yea this is hilarious. reading comprehension FTW! boro posted this in BFI and now OAFK posts it here. greenspand didn't say he supports the gold lstandard. he was answering a question about why we need the fed Barron [/ QUOTE ] Talk about reading comprehension problems. TOAFK posted here first. You know, like I said in the first sentence of the BFI post? Also note that TOAFK said that Greenspan said "We need a goldstandard," whereas all I said was that he was supportive of it, which he clearly was, at least to anyone who can comprehend what (when asked why you need a central bank) "You need a gold standard or a currency board or something of that nature to control government printing of fiat money, and people like me think we did very well under a gold standard" means.
|
|
#23
11-10-2007, 05:29 PM
|
|||
|
|||
|
Re: Greenspan says we need a goldstandard.
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Things not said in this interview: "We need a gold standard." Things said in this interview: Interviewer: "Why do we need the Fed?" AG: "With fiat money, you need a mechanism like a gold standard, a currency board, or some other mechanism to constrain the gov't's ability to print money." "I think we did well with the international gold standard around the turn of the century." [/ QUOTE ] yea this is hilarious. reading comprehension FTW! boro posted this in BFI and now OAFK posts it here. greenspand didn't say he supports the gold lstandard. he was answering a question about why we need the fed Barron [/ QUOTE ] Talk about reading comprehension problems. TOAFK posted here first. You know, like I said in the first sentence of the BFI post? Also note that TOAFK said that Greenspan said "We need a goldstandard," whereas all I said was that he was supportive of it, which he clearly was, at least to anyone who can comprehend what (when asked why you need a central bank) "You need a gold standard or a currency board or something of that nature to control government printing of fiat money, and people like me think we did very well under a gold standard" means. [/ QUOTE ] sure thing borodog. he was not supportive of it nor said we needed it (above and beyond a central bank). if the question was "do you think a gold standard would be better than the central bank?" and he answered "we need a gold standard" then yea i'd say he was supportive of it. but obviously this was not asked. he listed things that could be done to prevent govt from just printing fiat money. and he said we did well during a period of time in which we had a fairly good gold standard (not much fiddling) in place. so yea reading comprehension FTW! oh, and interpretation FTL! Barron
|
|
#24
11-10-2007, 05:40 PM
|
|||
|
|||
|
Re: Greenspan says we need a goldstandard.
His reasoning for a central bank with governing officials is ridiculous. If the only thing is the prevention of inflation then why not have a fixed computer run the money supply?
Also he's clearly alluding throughout his discussion of democracy that he thinks gold is a better standard system but he has compromised his position because he respects that everyone else wants fiat money.
|
 |
|
|
Linear Mode
