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

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posted on Aug, 8 2011 @ 12:25 AM
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And this whole time I thought that the U.S. Government didn't have the power to print paper money, that they had to print bonds and trade those to the Federal Reserve (a private company) for printed money, while incurring debt through intrest.
Hmmm apparently the cake really is a lie... who knew.



One of the funniest threads EVER




posted on Aug, 8 2011 @ 12:26 AM
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Print me some!



posted on Aug, 8 2011 @ 01:03 AM
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What make this very scary is that Greenspan raised his arms said it with such confidence. So, I assume the presses will roll Monday to restore consumer confidence. This is just as bad as the statement the Treasury sec, made. " it's 2 billion dollar accounting error."

edit on 8-8-2011 by SJE98 because: (no reason given)



posted on Aug, 8 2011 @ 01:06 AM
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He said it with a straight face....deadpan humor or complete dementia?

Reminds me of a little 6 yr old kid wanting his Mom to buy him a toy; Mom says "not right now we don't have the money."

The kid says "You can't be out of money, you still have checks!"



posted on Aug, 8 2011 @ 01:15 AM
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The greatest thing about this video is the fact that Ron Paul has educated an entire generation on money printing, inflation and the devaluation of currency. An explanation is no longer required, two words at the end of the video say it all: Ron Paul...



posted on Aug, 8 2011 @ 01:25 AM
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reply to post by Chrysalis
 


Yes, there is a special privileged at play here. The privilege of the "tribe".The 12 Tribes to be exact.



posted on Aug, 8 2011 @ 01:28 AM
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Originally posted by 1SawSomeThings
He said it with a straight face....deadpan humor or complete dementia?

Reminds me of a little 6 yr old kid wanting his Mom to buy him a toy; Mom says "not right now we don't have the money."

The kid says "You can't be out of money, you still have checks!"


Indeed. Superb and concise illustration.. And simple enough for Allen to understand. But he is 2, so give him 4 more years.



posted on Aug, 8 2011 @ 01:40 AM
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Here's Ron referring to money printing.

The news babe either has no idea what he's saying or is trying to connect Ron with what he apposes for whatever gain she perceives.



posted on Aug, 8 2011 @ 01:46 AM
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Now that China has made an unexpected move, the delay to crash the economy was severely shortened for the actual planned date. Now, we have Greenspeen, with the most ridiculous, yet most simplest solution there is to tackle the issue.

Something ain't right, for sure. I smell a conspiracy, and it none other then the puppet masters pulling them strings.





posted on Aug, 8 2011 @ 01:51 AM
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reply to post by -W1LL
 


I love the younger guy sitting there like "I'm with stupid."



posted on Aug, 8 2011 @ 02:12 AM
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I'd like to see the interview in its entirety to be certain that this wasn't a joke taken out of context somehow. It is ludicrous to me that he would say that and actually be serious. That's an insane statement in my opinion. I mean, don't get me wrong. I wouldn't be shocked if he actually meant it. Our leaders may actually be this far gone. But I'd still like to see the interview in its entirety. Just to be certain. Because that's just crazy.



posted on Aug, 8 2011 @ 02:17 AM
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I guess I have to Look at Zeitgeist 1&2 Again The Federal Reserve Section
Zeitgeist - The Movie: Federal Reserve (Part 1 of 5)


and Threads On ATS about the Federal Reserve ( The Conspiracy!! )

Well I guess from this Video its not a Conspiracy anymore right from the Mouth of Greenspan !


Conspirators Win! Yeah

BUT!!!!!!

Federal Reserve Admits: We Have No Gold !

From the main youtuber

The following exchange between Congressman Ron Paul (R-TX) and the Fed's attorney Scott Alvarez proves, without a shadow of a doubt, that The Federal Reserve has no gold backing the US dollar. Most in the alternative news sphere suspected it - now it's fact.



posted on Aug, 8 2011 @ 02:17 AM
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Originally posted by AceWombat04
I'd like to see the interview in its entirety to be certain that this wasn't a joke taken out of context somehow.
It's not a joke. See the video Kords21 posted and the video I posted.



posted on Aug, 8 2011 @ 02:18 AM
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Originally posted by auraelium
His problem is that up until recently he could say this and the ignorant masses would believe him... but the world is changing and liars like him cant get away wiith spouting these lies any more.
edit on 7-8-2011 by auraelium because: (no reason given)


problem being that he's not lying, he's being brutally honest. Let's just hope indeed the ignorant masses aren't that ignorant anymore.



posted on Aug, 8 2011 @ 02:20 AM
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reply to post by Romekje
 


So how come I can't print a million for me and my buddies? I am a very worthy cause and I have debts too. How much more can we print before the whole thing collapses?



posted on Aug, 8 2011 @ 02:20 AM
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reply to post by gentledissident
 


Okay, I watched them. Thanks for the links! Interesting, but I'd still like to see the actual interview in its entirety. While as I said it wouldn't surprise me to find he was serious - at all, really - it never hurts to be 100% certain. Does anyone know what show it was and the date?
edit on 8/8/2011 by AceWombat04 because: (no reason given)



posted on Aug, 8 2011 @ 02:29 AM
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I'm really confused. Can someone help out those less knowledgeable about how the economy works?

Ok, even ignoring the devalueing of the dollar this would cause and all that, I really don't understand how what he said is even possible. I don't understand how this all works, but I thought the US govt can't print its own money and instead has to borrow it from the federal reserve which is a private entity. So, how can the us govt pay off its debt by having the fed print money if they have to incur debt to do so? Wouldn't that just be replacing debt with debt, where now instead of owing money to whatever foreign country or whatever else the US owes money to a bunch of banks that make up the federal reserve? How would replacing debt with debt help at all, even if you ignore the extra money causing inflation and all that? Wouldn't we still be in the same exact debt, just changing who its owed to? Am I missing something or wrong?

Wouldn't what hes suggesting just effectively make the federal reserve richer, while leaving the US in the same exact debt hole? Is that his agenda? Someone more knowledgeable please explain.
edit on 8-8-2011 by darkest4 because: (no reason given)



posted on Aug, 8 2011 @ 02:37 AM
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he can say whatever he wants, he don't got much to lose - with all due respect, he only got a few years left - if that, brute honesty is legit isn't it?



posted on Aug, 8 2011 @ 03:11 AM
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One of my friends is actually hoping for this because it means he would be able to very easily pay off all of his crushing college and credit card debts (for the record, his credit card debts were not of his own doing, but came from a family member who perpetrated identity theft and spent huge amounts in his name).

Another thing, if the value of cash starts to drop, you will see all of the companies and banks finally unloading all of the cash they've been hoarding because it suddenly isn't worth as much, that would start to stabilize things as well, as all of that money has to go somewhere, and it would be injected right back into the economy. I think it would ultimately be a blip, not a problem like Germany or Zimbabwe. The money is out there, it's just sitting in coffers not being used right now.



posted on Aug, 8 2011 @ 03:12 AM
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Originally posted by -W1LL
Economy, not debt rating, will send markets lower


here is another good confusing article on what is going on its worth a read it only makes me believe things may be worse than they are implying.


EXACTLY! This is what has been bugging me all weekend. The ratings downgrade was a nothing. In good times, such an actions would be rightfully viewed as a horrible blow. We're nowhere near "good times" right now... hell, JJ "Dynomite" Walker has left the building entirely, we're so far from good times. The ratings move was an agreed upon strategic action intended to mask the systemic and chain reacting failures in the global economy. We are in a depression. The world did not recover from the 2008 panic, they merely treaded water, cluelessly hoping things would improve. They didn't, and we're seeing that truth right now.

Meanwhile, it became highly advantageous to the sitting administration to allow a slight credit downgrade of the US to serve two purposes.
1. It masks the real problem. The real problem is the economy is in tatters and nothing they or any of the global governments have tried has helped or will help. This is a fever and the only chance at cure will be to sweat it out, not mask over it and pretend you're OK.
2. It grants both main parties a chance to scapegoat the developing legitimate 3rd option in the US: the TEA Party. Boehner and the GOP begrudgingly dealt with these candidates during the debt debacle, but when he realized they weren't "good little soldier GOPers" and actually stuck to their guns on issues that got them elected, he realized they had to go. Similarly, the Democrats see the TEA movement as a huge threat because they represent a magnet to the centrist voters that the Dems absorbed during the Bush years.

As for Greenspan, I don't really understand the shock in this thread. He basically regurgitated current Fed chairman Hurricane Ben's "We have a magical device known as a printing press" stance... nothing new, heard it before, and wayched it in action during QE 1 & 2 while Ben was busy destroying the value of the dollar.




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