...irony that someone with such a philosophy would one day head an organization like the Federal Reserve - the world's leading CAUSE of inflation (through their unlimited printing of money).
If Greenspan really believed in those words he wrote (which were absolutely correct), then it makes you wonder how he could have ever accepted his position as head of the Federal Reserve.
I sometimes think those who dictate FED monetary policy actually believe they can control inflation by just playing with the money supply.
They continue to tell us that inflation is low at around 2 or 3 percent.
But while their argument can SEEM to work, if it really did, they never would have changed the way they measure inflation (as they did several years ago).
Why did they take FOOD and ENERGY out of their measurement of inflation???
Food and energy are the very commodities humans cannot live without, so they are the BEST measure of inflation - yet the FED's economists took them OUT of the index.
This proves that inflation is much higher than they tell us it is.
If they hadn't changed the way they measure inflation, there would probably be a public revolt and the FED would be in trouble for their counterfeiting mischief.
"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."
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