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Greenspan: US Can Pay Any Debt It Has Because It Can Print Money To Pay It

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(sigh)

Even they're saying it out loud now. I wonder if the people out there will actually accept this as a solution???

The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.

- Calvin Coolidge

he must know with time printing money replaces savings with debt

And levers institutions top-down against each other as the larger economies of scale gobble up smaller economies, take their resources, and continue to move down the food chain of equity.

A true flower can not blossom without sunlight and a true man can not live without love.

The Coinage Act of 1792 carries the death penalty.

Greenspan should be first in line.

So Does The Thirteenth Article Of Amendment (TONA) By

Stripping anyone in the government who accepts Bank of England notes of their citizenship protections so the people can try them under the common law as traitors and hang them. This is called outlawry. Basically TONA says that if you accept a payoff, title or present from The British Crown or Bank of England anyone in America can capture you and make you their dog or dispose of you.

That's why the Crown has been trying to find and burn or hide all the copies of The Constitution prior to 1871 when they took over America again.
Go to TONA research to see the truth aboout the traitors fate if the American People would just wake up.

The Oracle

His assertion that default is impossible

because of the ability to print money is sort of correct, only wrong in the sense that choosing not to print the money and allowing default to happen is a possibility.

His assertion that a credit downgrade only reflects the chances of default is not correct. That the debtor can choose to and is becoming more likely to pay a loan back with a wheelbarrow full of inflated currency is a worthwhile reason for a credit downgrade.

Defend Liberty!

WTF

we need to bring back public hangings and string all these crooks up and teach people a lesson... people arent scared anymore and that would be one way to make sure people keep their shit straight.

"When the Power of Love overcomes the Love of Power the World will know Peace." ~Jimi Hendrix

.

O.O.O.O.O. O.M.G

Maddow edits this clip

Check out what Maddow does to this clip so she can use it in her daily diatribe. The funny thing is she herself was sitting right across the desk from Greenspan on MTP when he made these comments!

http://www.msnbc.msn.com/id/26315908/#44068040

skip ahead to 5:05

Inflation is more dangerous than all drugs

Grandpa Simpson is right, but that is no conciliation.

malo periculosam libertatem quam quietum servitium

I am an aristocrat. I love liberty; I hate equality. - John Randolph of Roanoke

Easy come easy go!

easy print easy spent!
Ron Paul know!
Say NO!
EAsy come easy go!
Ron Paul know!
Easy come easy go
easy print easy spent!
Say NO!

lol! who wants to scream!!

Kinda think its this video

Kinda think its this video that put gold at 1750$

who would have guessed! .. oww yea ...gulp

Official endorsement

from Alan Greenspan to Ron Paul, priceless! :)

Ron Paul Revolution is spreading around the world: Freedom and Prosperity TV: libertarian network of alternative media in Western Balkans

kinda funny how the

kinda funny how the "deflationists" don't touch this thread.

yup

i think deflationists fail to see the big picture. there are certain sectors that will experience "deflation" as they have been artificially stimulated through government decree above market levels. we have so many debt obligations as a nation, that the only way we can pay them is by inflating the currency... which makes debts cheaper. besides Ron Paul there might not even be a handful of politicians that have the nuts to seriously address the issues.

instead, they'll keep on spending and printing.

i think it would be a great

campaign commercial. leave vid exactly like it is. it's the perfect length and everything. maybe add something like "want sound money?' then the ron paul 2012

How about this slogan for the

How about this slogan for the revolution...

"Keynesian economics is alchemy... austrian economics is pure gold."

A-Frickin'-Mazing!

World's chief counterfeiter.

But the world is on to us which is why our credit rating was lowered in the first place.

Economic Law = Physical Law.

No difference between the two, but the Paul Krugmans and Greenspans of the world would have us believe different.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

"Funny Money"

Yeah, print FUNNY MONEY.

I think the world is getting sick of it. But then again, can't all central banks print money?

This "Ferengi" should be in the iron bar hotel

..

This video needs to go viral!

This video needs to go viral!

The Soviets

did that and it worked out fine for them.

Defend Liberty!

But Alan, what about the debt inherent in paper script?

The dollar is an IOU. It is a promise of redemption in something valuable to us. It is a note to guarantee the transfer of value of what was sold for the value of a future purchase. If hanging onto the note for a year causes it to lose value then what kind of guarantee is it?

You see, by printing the extra money to pay for its profligate spending the federal establishment erodes the promise, the guarantee of value of the notes held by all, and that is absolutely a default. It's as if I borrow a cup of sugar from you and then repay you with a cup of dirt.

I really think you need to go back and read what Ayn Rand had to say about money.

New Hampshire and Ecuador.

Begs the question

What's a dollar? Oops, it's an ever more numerous debt note printed on a worthless piece of cloth. But don't worry we'll pay you back with interest ;)

ECB

Is opening its doors for another round of bond buying.

http://news.xinhuanet.com/english2010/world/2011-08/08/c_131...

'For whom the bonds toll'

donvino

Counterfieters can pay their debts too...

They just print more money.

I don't see a difference between counterfeiters and the U.S. government.

____

"Take hold of the future or the future will take hold of you." -- Patrick Dixon

In a narrow, technical sense

In a narrow, technical sense that is right. But step back and look at what kind of motivation America has for paying back "any debt it has", and you will find that it is in order to keep investors confident enough to let it incur new debt in the future, should it need/want to. Does Greenspan really think that still holds true if all previous creditors were only paid back in newly printed money?

A default by debasement is just as detrimental to investor confidence as an explicit default. Making it in no way preferable. But in addition, the debasement solution does enormous damage to every institution in the dollar sphere, something an explicit default does not do.

I keep hearing Greenspan's quip from all kinds of people, because that is how their models are built: US sovereign debt is safer than any private dollar debt, because it has no default risk, only inflation risk, while other dollar debt has at least some default risk, on top of the same inflation risk as sovereign debt. It's basically an unquestioned assumption underlying all that these guys have been doing their whole careers.

Now, if they only bothered looking a bit deeper, they would find that that assumption is in no way an immutable law of economics, but rather an arrangement that can be revoked by Congress any time it should feel like it, which it will as soon as enough members recognize it is no longer an arrangement that serves their electorates (or, more likely themselves) any longer.

Hayek: Printing money is

Hayek: Printing money is defaulting.

Keynes: We will never default because we can print money.

Winner by knock out and still undisputed champion of the Woooooooorld....Friedrich August Hayek!!!

I think it's also very

I think it's also very important to understand these points.
http://www.newfamilyeconomics.com/featured/why-hyperinflatio...

government of the people, by the people, for the people
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