Marc Faber & Greenspan Interviews
What a contrast to the screaming and hyping on CNBC. Excellent Interview covering every important topic
Was für ein Kontrast zu dem üblichen Hype der ansonsten spezeill auf Sendern wie CNBC läuft. Ein wirklich sehenswertes Interview das alle wichtigen Prolembereiche anspricht.
Was für ein Kontrast zu dem üblichen Hype der ansonsten spezeill auf Sendern wie CNBC läuft. Ein wirklich sehenswertes Interview das alle wichtigen Prolembereiche anspricht.
Thanks to iTulip here is the totally clueless "Easy Al" ...... This is a must see!
Dank iTulip gibt es hier als Kontrast den total ahnungslosen "Easy Al".... Unbedingt ansehen!
If you can stand more from Greenspan click here
Wenn Ihr noch mehr von Greenspan vertragen könnt klickt bitte hier.
posted by jmf at 12:20 AM
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5 Comments:
Quite awesome that a lot of other people (non-FED presidents...) paradoxically, got the message long before he did...
Moin Pancho,
i still cannot believe that he didn´t know exactly what was going on.....
Greenspan did know.
In the book Capitalism The Unknown Ideal by Ayn Rand, Greenspan writes an article, long before he became Fed Chairman, about easy money and bubbles. Here are some of his writings:
The 'Fed' succeeded: it stopped the gold loss, but it nearly destroyed the economies of the world, in the process. The excess credit which (it) pumped into the economy spilled over into the stock market -- triggering a speculative boom. Belatedly (it) attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929, the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence.
He also said this:
The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the ...statists' tirades against gold. Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the...antagonism toward the gold standard.
Trust me. He knows. I just don't know WHY he did it anyways.
TheFinancialNinja
Thanks Ben.
While I have been following this blog for some time now, I have never contributed to your posts. However, if I may add to these comments a phrase said by Joseph Stalin during WWII that I think sums it up very well, (in my opinion) of what really went through Greenspans head and the FED in order to save the US economy after Sep 11 & the Nasdaq bubble with their easy credit policies:
" The death of one man is a tragedy. The death of a million men is a statistic." -- Joseph Stalin
Greenspan's awareness and opinion of the mortgage fraud being practised was probably in the same context.
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