Why Do We Need a Central Bank?

Alan Greenspan addresses the question, 'Why do we need a central bank?' in a FOX Business interview.

Category:

News & Politics

Tags:

• Greenspan
• central
• bank
• Federal
• Reserve
• Fox

[JonDavidson]

Was inserting the loud and distracting music in the background (or should I say the foreground, since it was louder than the dialogue) really necessary? It was very annoying, and didn't serve any purpose...

[gospelnous]

hmmm . . . the second comment posted to this thread by jinjin16 five months ago expressed the same sentiments.

Since this was the first video I'd ever produced, it was something of an experiment in my own learning. While I certainly didn't intend for my meager creative effort to annoy anyone . . . whether the music serves any purpose or not, is debatable. Except for Ron Paul's passing mention of it, I assumed the original clip would otherwise receive little attention from the public.

[Trentacus]

While I may not agree, gospelnous is the only one making sense. Everyone else is ranting one dimensionally sided single argument. Many people don't understand the need of one but can anyone give me reasons on why one is better? It's simple, no debt=no money

The Depression is part linked with a fall of new loans, since it's part of the monetary theory of creating more money. Before it was in play there was no limits. Please read -all- the facts before forming an opinion. I think it is fair.

[gospelnous]

Thanks, Trentacus. Whether you agree with my views or not, I appreciate the fact that you're thinking for yourself. I'd like to address a couple of misimpressions though.

First, 'debt' and 'money' are not synonymous (the same thing). 'Money' or 'currency' is a representation of 'value'. Contrastingly, responsible economics can effectively utilize 'debt' to facilitate production.

Richard C. Cook has posed alternatives to current improprieties in recent discussions of C.H. Douglas.

[dsvet]

I guess you could read Murray Rothbard's What has Govt done to our money. It's available free online in pdf.

[gospelnous]

Yes dsvet, that's a great suggestion for students interested in contrasting an 'alternative' background and view to 'traditional' Economics.

In fact, I'd strongly recommend taking the time to visit and familiarize one's self with the Mises Institute's online library. It represents a vast storehouse of material and resources on the subject.

[ENJOYOURMATRIXX]

at 2:00 Greenspan says: its the government that print the money!! NO its not! liar! its the central bank. He said so to make you believe that the central bank is OWN BY THE GOV. witch is not true! ITS A PRIVATE INSTITUTION. It makes is own rule and is has no oversight by anyone. Greenspan is such a crook new world order scum!

[evilzzzable]

I've never heard so much sh1t spouted from one individual.

[KyleSkullz]

@ENJOYOURMATRIXX

Semantics...

The central bank is a creation of government, it was brought into existence through an act of government, it's board members are appointed by the government, etc.

The Central Bank, like all government institutions, socializes losses and privatizes profits for politically connected interests.

You're right to say that it's technically private and serves private interests, but to be perfectly clear... the FED is a creation of government, not the market.

[KyleSkullz]

Ayn Rand would be ashamed of this monster, if she lived to see his reign as the Central Bank chairman.

A free-market Central Bank Chairman is the equivalent of an Atheist Pope. A total contradiction in terms.

[Deveran]

stupid distracting music!!!!

[stevencowley1980]

USA greed caused the problems, simple.

[NWOisherenow]

Why would anyone believe a word out of that reptiles mouth???? The music is too loud. Sorry.

[rogerlk53]

I like the loud and distracting music in tne background! Greenspan has nothing truthful to say anyway! Who is the artist playing the music?

[Demontechnology]

hmmm. Interesting.

[KritikalDimensions]

i think the music fit perfectly, and i could hear the dialogue fine.