Mish: Anti-Libertarian Nonsense on the Fed
In How libertarian dogma led the Fed astray Henry Kaufman launches into tirade against the "Libertarian Fed" and the "prevailing economic libertarianism". I have a question for Kaufman:
Since When is Constant Meddling in the Markets a Sign of Libertarianism?
The idea that Greenspan or the Fed is Libertarian is absurd.
Greenspan never left the markets alone. At every crisis (real or imaginary) Greenspan slashed interest rates. Here are two prime examples: In 1999 the Fed threw money at non-existent problems such as the Y2K scare. That policy decision helped fuel the Dot-Com bubble. When the Dot-Com bubble burst Greenspan stepped on the gas in 2001-2002 to bail out banks at risk because of poor loans to both Latin America and the internet companies. That policy decision fueled a massive housing bubble not just in the US but worldwide.
Every step of the way, the Greenspan and Bernanke Fed micro-mismanaged interest rates as if they knew better than the free market where rates should be. The reality is the Fed does not know where interest rates should be only the free market knows.
This guy was
Director and Chairman of Finance & Risk....
at Lehman Brothers.....
LOL
What a douche!
Libertarian central bank is
Libertarian central bank is an oxy-moron. This man is on heroin.
What baffles me
is the stupidity of "respected" "mainstream" financial news, that they can continue to publish such patently fallacy-filled shit.
No wonder they are all failing.
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My liberty-minded home base of thought:
www.ponderthis.net
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Freedom - Peace - Prosperity
It's hard to keep track of
It's hard to keep track of all of the contradictions in this one, besides the fact that the whole premise of the article is a contradiction.
He's not confused
He knows exactly what he's doing. He's a bankster, I assume a member of the CFR, and his goal is to confuse the public and keep the fed in place.
a free market nostradamus!
http://en.wikipedia.org/wiki/Henry_Kaufman
"Before joining Salomon Brothers, Dr. Kaufman served as an economist at the Federal Reserve Bank of New York."
"He was well-known during the 1970s and early 1980s for the interest rate forecasts..."
The Keynesians are poised to co-opt our anti-Fed message.
The powers-that-be are positioning themselves for the audit/review/revamping of the Fed. This tactic runs parallel to the "capitalism failed" argument by proponents of more socialist intervention. They stand ready to inform the masses that the Fed has failed because it did not do enough or was not powerful enough.
We must make our free-market argument at every opportunity. Most people only ever hear the Keynesian nonsense.
Well said summjet and
Well said summjet and others
I was thinking we should get a half a million libertarians and just move to WY and take it over - seriously -- Start in WY and set an example of what could be with a true libertarian philosophy.
we are drowned out time and time again by garbage in the News.
Besides who does not like WY? :)
Patriot4Liberty1776
great idea
I was just thinking the other day it would be nice if we all moved to the same state. How is Wyoming? I was kinda thinking New Hampshire but only because on their license plates it says live free or die.
But no seriously I love this country and the freedoms we used to have.
George Carlin
I submit that an individual who breaks a law that conscience tells him is unjust, and who willingly accepts the penalty of imprisonment in order to arouse the conscience of the community over its injustice, is in reality expressing the highest respect for
Greenspan prefers that the Fed not exist.
Whenever asked in interviews whether he prefers a gold standard over a Fed, he always say that's his position. For example this interview on Fox: http://www.youtube.com/watch?v=z5MVsm2cpc0
He makes no secret about it. He's a free market libertarian. People never seem to ask him straight out if he thinks the Fed should be abolished, because they just assume that he's in favor of its existence because he worked there. But it's clear he opposes the existence of the Fed. He never changed his position on this, from all the way back to his Ayn Rand days.
Just because he got a job at the Fed doesn't mean he thinks there's not a better way to handle money. Whether he got a job at the Fed or not, it would continue to exist. He's not responsible for the creation of the Fed. Iwould rather have a free marketer heading the Fed than someone else. Apparently Reagan thought so too (Reagan was also for a gold standard).
Let's get the Greenspan on Freedom Watch!
"Bankers are putting poison in our food and water." - Psychotic dirtbag conspiracy theorist fake-libertarian, exploiter of Dr. Paul, Alex Jones
Sorry...
There is A LOT more to being a libertarian than saying you are for "free markets". How can a market be free when it is based on debt instead of capital and mercantilism instead of capitalism?? Remember, that pesky system known as mercantilism that caused the seccession from England and the king?
www.libertyrestorationproject.org
"We are the inheritors of the American Enlightenment, which tells us that Individual Liberty always trumps collectivism in all forms."
www.libertyrestorationproject.org
"We are the inheritors of the American Enlightenment, which tells us that Individual Liberty always trumps collectivism in all forms."
Kaufman
What a sad, confused little man.
as the libertarian
as the libertarian philosophy gains momentum they will do everythiong they can to discredit it.. this article is nothing more then a bold faced lie.
People are now starting to question the republican/democrat rule of our governmental system. More and more people are seeking a new way.. Libertarianism is the way people are going..
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Greenspan is a libertarian.
He's said several times that he prefers a gold standard instead of the Fed. Dr. Paul has questioned him on that, as well as interviewers in the news. The fact that he worked at the Fed doesn't mean he is in favor of it existing.
"Bankers are putting poison in our food and water." - Psychotic dirtbag conspiracy theorist fake-libertarian, exploiter of Dr. Paul, Alex Jones
greenspan is no
greenspan is no libertarian
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
No, He's Not
He wrote an article years ago on returning to the gold standard which he, publicly at least, has backpedaled on. Privately, he claimed to Dr. Paul that he still agreed with it.
What has he done that is consistent with libertarian principles?
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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
What ???
Sorry Charley, ACTIONS speaks louder than words. Once again, it is divide and conqueror. Greenspan is one of THEM!
There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan
"Invest only in things that you can stand in front of and pr
The link
In Letters Of Ayn Rand, Leonard Piekoff, she tells Greenspan, "You don't know what capitalism is!" It's pretty apparent that Ayn Rand was NOT a fan of Greenspan. What Greenspan and MSM did, knowing that Ayn Rand has always had a popular and educated underground, Greenspan, like Spector and Libby, Woldowitz, Faith, Perle, they joined the GOP, at Goldwaters reguest, which Ayn Rand scolded Goldwater in the book.. Greenspan talked very highly of Ayn Rand, so people ASSUMED he was an Ayn Rand fan and follewer, and the people who like Ayn Rand, backed the neocons... Ayn Rand also influenced me to join the Libertarian Party in 1976, not just NORML ads in Playboy Magazine.. but Libertarian Party is OBVIOUSLY controlled by the GOP (Bob Barr is GOP), anyways, Allot of people have been mislead, and if they were on a straight path, that wouldn't have happened, as Ron Paul shows us with his examples of reefering to the US Constitution.
WE ARE GOING TO WIN!
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Utter nonsense.
The very existence of the Fed is antithetical to liberty. Claiming that the Fed acted on libertarian ideas is a blatant lie.
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
It Is Orwellian Doublespeak
The purpose is to obliterate the meaning of language, making it easier to stifle any opposition to state coercion.
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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
I'm Afraid You're Right
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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
Hmm,
sounds like they are fishy for some group to pin this mess on.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
yep "When governments fear
yep
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐