Greenspan: There is NO Free Market

[ghiisga]

This is stupid. It's like saying "America isn't free" because we have laws. Of course we have a free market economy. We live in a free society.

[thefreedomartist]

...and some people call it a sling blade, i call it a kaiser blade...

either way...carl chopped their heads clean off with it...

[m2austin]

Despite what I believe the poster of this video is implying, what Mr Greenspan is saying is that the Federal Reserve as a controller of the money supply is an obstacle for a fully free-market. Justin Martin shows in his biography of Greenspan is just how sceptical Greenspan was of the government, including the Fed to the point that he turned down over a half-dozen jobs for Richard Nixon before he accepted an arms-length position in the Council of Economic Advisors.

[vinnie1369]

Of course it's not a FREE market. There is no such thing as total freedom. That's why we have laws you baffoons!!! LOL LOL Free is a relative term.

America is not Free. If it was completely free we would have no laws.

Murder would be legal.

Pedophelia would be legal.

Freedom is a relative term my friends. Try to use some semblance of common sense please.

[thefreedomartist]

@vinnie1369 ...you are mistaking true freedom for those who use their liberty for a cloak of maliciousness...1 Peter 2:16...

...there are 2 kinds of freedom: one is legitimate, the other counterfeit and licentious, (lacking legal and moral constraint)...

...only when a person is operating illegally and immorally does law come into play...

...if people were operating with true freedom, no laws would be needed...

...and no, murder, etc. would not be legal...

[vinnie1369]

@thefreedomartist OK, so you are agreeing with me or not? Maybe I'm sleepy but you've got me a bit confused here.

TIP: click REPLY next to my comment so that yours attaches to mine. So I don't have to search all over creation to connect comments.

[thefreedomartist]

@vinnie1369 ...hey there, i guess i am both agreeing and disagreeing with, (pretty slippery of me huh?), nah, seriously though, i don't think "true" freedom is the same as "counterfeit" freedom,

one operates from a morally upright compass and is not forced/coerced, while the other is merely lawlessness that requires big brother to hold the various threats of punishment over us to keep us in line...

[vinnie1369]

@thefreedomartist The issue to keep in mind is OPINION. We all have our own ideas of what is right and what is wrong. And there in lies the problem. No one agrees. Yet we always try to impose our ideas of right and wrong on others.

[thefreedomartist]

@vinnie1369 ...yep, therein lies the rub, as they say...but i do think most of us are not raving lunatics, hell-bent upon the destruction of others, just average joes tryin to get by...the fed though, and the big shots who determine the very field upon which we play, make that endeavor very rough indeed...

[groam6666]

Haha, Greenspan shot himself in the foot.

[TheMango121]

No freemarket... NO SHIT.

[drusha1]

wow. that's an honest admission. how refreshing

[thefreedomartist]

@drusha1 ...yeah, just about as refreshing as some poisoned koolaid...

[EddieAteDynomite]

Our media is legally allowed to lie and distort information on their broadcasts. Think about that the next time you hear a sheeple repeating what he/she heard on the "news"! Most people dont have time to do the necessary research to see thru the BS. The big money knows this fact and has become very good at scaring the crap out of some ignorant people! Greed Kills!

Move To Amend . org before its too late!!

[chileunidoful]

0:05 ILLUMINATI EYE!

[thedaaawg12]

Greenspan is a total traitor to the policy of deregulation, his decision to leave interest rates too low for too long was a huge cause of this crisis. Also if our political leaders would stick to their guns and followed through on deregulation, i.e. refused to bailout troubled lenders, then we would have had a few tough years but the situation would right itself eventually they deserve as much blame as Wall Street. Deregulation is not the problem weak willed, cowardly Government is.

[jjenson2006]

This is about the only thing I heard Greenspan say that is actually true.

[followthefleet1]

To Greenspan, it's not a free market not because of what banks do, but because of what the Central Bank does. Greenspan was, and is, a libertarian who fought against ANY regulation of the banks...the same few banks who used every waking moment to destroy competition...and to self regulate the 55 trillion derivatives "market"....which then exploded in a orgy of greed. The issue (and the problem) is not the existence of the Central Bank, it's what Greenspan did...and didn't do...while he led it.

[TeaTweety]

where i can see all interview? 

[jrvillela]

@TeaTweety Good question! Here: tinyurl(dot)com/GreenspanDaily­Show

[TeaTweety]

@jrvillela thx

[RonanG]

Alan Greenspan believed in a ideology peddled by Ayn Rand a Russian lady who wrote a book in the 50s called 'Atlas Shrugged' which championed selfishness as a positive means of doing business, and look where that got the world! Greenspan should be sharing a cell with Bernie Madoff!

[Riellysdad]

@RonanG ....Sorry buddy but Greenspan didn't follow Rand and went his own way...he was only an acquaintance of Rands. ...and that's why he got the US in the shit. Rand was a subscriber to the Austrian school of economics...Greenspan wasn't...he was more Keynesian.

[RonanG]

@Riellysdad Actually you are incorrect. Not alone did Greenspan follow Rand slavishly, he spent months and months of his time in her apartment fawning at her feet like a love struck puppy dog. Greenspan was so taken by her and her lunatic philosophy that she had to throw him out in the end. Have a look at the BBC Documentary 'All Watched Over By Graceful Machines' this might help you to understand why the world has been fucked over by greedy rich people who just never seem to have enough wealth.

[Riellysdad]

@RonanG .....Wrong. according to Rands two close friends Barbara and Nathaniel Branden, Greenspan was only a fringe associate of Rands and not a close friend of member of her circle. he did contribute some writings to her book "Capitalism: the unknown ideal"....but that as far as it went.

[THAWK3]

How many other people have had this same argument -stating that there is no real free market and that regulation doesn't = freedom,only to be vindicated when you hear one of the top statist planners like Mr. Greenspan here say it.

[Autojones]

About the comment by Americaisgreat123, Central banks are NOT a socialist monetary system, They ARE private banks masquerading as a govt institution.

It's how banks fool the gullible into thinking the govt is working against them, when in fact it's the banks, you know, calling themselves the FED etc. The FED is private Banks, Wake up!!! there is no free market!! It's rigged and it's the way big capitol likes it!!! they hate the free market. Same with big Biz...

[RonanG]

@Autojones At last! Someone who understands basic economics!

[m2austin]

@Autojones I agree with your anger towards corporatism and influence-buying in Congress. This is a serious dilemma in a free-market most notably in Russia and new democracies. Promoters of the free-market, along with civil libertarians, generally are in agreement with such protests which are manifesting themselves in the Occupy movement. Interesting how we all agree on how wrong it is, but differ in how we see how the U.S. should turn out.

[PepsiPope]

So he just admitted that the federal reserve controls our economy and so we don't have a free market. Maybe we need to send this video to weasel.

[NOTAdemocracy]

Yup. Corporatism doing all the stunts and Capitalism getting all the blame...

[GnomesAmok]

@NOTAdemocracy

Its not Corporatism that the Fed implements monetary policy, your a goddamn idiot

[Americaisgreat123]

Honestly, I'm a little surprised someone like Jon Stewart had the intellectual capacity to invite Alan Greenspan on his show. I agree with the former Chairman of the Federal Reserve, Alan Greenspan. The Federal Reserve prevents us from being a free market economy. A central bank is a socialist monetary system. I give this video 5 stars on the grounds that everything said it it was correct.

[MrMP81]

Some people call it regulation, others call it Fascism you bastard...

[Redfingers]

@MrMP81

"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini.

[Manx123]

So... is he just horribly inconsistent or a hypocrite, considering he said the priceless the opposite things about a year before.