GREENSPAN Touts GOLD Standard: FRIEDMAN Fails FED: RON PAUL CLASSIC

Alan Greenspan comments on Ayn Rand and advocates the Gold Standard, while touting its historical success in America.

Classic Ron Paul encounter with Alan Greenspan, noting the similarity of the Federal Reserve System with Enron.

Milton Friedman argues against big government and warns of the urge to print money, saying straight out, "abolish the federal reserve."

Alan Greenspan admits the Fed is above the law and outside the regulation of congress, and thus confirms is unconstitutional by its very existence.

We Are Change asks the questions the main stream media refuses to ask.

Greenspan speaks of fraud in the failed system...imagine what we would find if his Federal Reserve System was subjected to an audit?

END THE FED

For more information, see THE CREATURE FROM JEKYLL ISLAND by G Edward Griffin. Related talk by author here: http://www.youtube.com/watch?v=_2jLdTL9k_E

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[jsmythib]

I wish everyone in the world understood this video.

[Tina196712]

Very interesting video, if you get it.

[ceovp]

buy gold and silver the dollar will collapse and we will have to have paper currency backed by gold and silver

[needtoalwayslearn]

Greenspan when talking about inflation completely jumps the discussion about the credit channels and mechanisms through which money is created and distributed.

People need to get their heads around the fact that the correct definition of inflation is "an increase in the money supply" NOT "an increase in the price level".

Increasing the money supply helps hold prices in sectors(eg housing) where it should FALL. This affects all prices (by mispricing all assets and labour) throughout an economy.

[arta612]

brittney spears' video "till the world ends" has 80 million views. This video essentially shows that the guy that ran US and in many ways global fiscal policy, "hopes" ron paul is wrong and that the policies he implemented are in essence a "learning process" got 1,400 views. WTF. Is it me or is this situation ripe for a global explosion?

[ACDC7369]

@cupocity303 we won't be able to use gold as money because the Federal Reserve Note will be legal tender. Of course it will be worthless, so Congress will decide to have a replacement currency...perhaps the IMF Special Drawing Rights currency will be made legal tender in most of the world. It will effectively become a world currency. when you have an institution like the IMF controlling issuance of the world's currency, and there is no escape to other currencies, you have a world government

[cupocity303]

Aren't we going to get a Gold Standard by default anyway? When all the fiat currencies collapse, the countries with the most gold will be doing better then those with little.

Until then, i guess the theme is to keep going until you no longer can't.

[MrBigEnchilada]

@mcufre congress approves the appointment of the fed chairman, the president chooses him.

Therefore, the fed chairman is somewhat controlled, of course, after he is appointed, he can pretty much do what he wants. But he will usually help the president and congress by promoting inflation, when the president is up for reelection, the chairman then has the power over the president and can refuse to help him with monetary policy.

[mcufre]

Nice to allow an institution which doesnt give a fuck about congress control all of your currency printing. Very good idea.

[publicanimal]

Alan Greenspan: "I hope that that analogy is innapropriate."

Ron Paul: "Well keep hoping."