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No Chance of Default, US Can Print Money: Greenspan
CNBC ^
| Sunday, 7 Aug 2011 | 3:15 PM ET
| Patrick Allen
Posted on 08/08/2011 8:21:00 AM PDT by Tulsa Ramjet
Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating.
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press
(Excerpt) Read more at cnbc.com ...
TOPICS: Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: economy; greenspan; obama
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This man is crazy, and is a part of why we are in trouble. Someone needs to draw him with a WWII wheelbarrel filled with deutshmarks.
To: Tulsa Ramjet
Print me a 10 million could ya? C’mon Alan...
2
posted on
08/08/2011 8:22:41 AM PDT
by
listenhillary
(Look your representatives in the eye and ask if they intend to pay off the debt. They will look away)
To: Tulsa Ramjet
We know the evil Greenspawn is a complete asshat. He dated Baba Wawa.
3
posted on
08/08/2011 8:23:41 AM PDT
by
IbJensen
(God made idiots. That was for practice. Then he made politicians.)
To: Tulsa Ramjet
To: Tulsa Ramjet
Invest in wheelbarrows.
5
posted on
08/08/2011 8:25:24 AM PDT
by
mnehring
To: Tulsa Ramjet
I could make better decisions than this guy, and all I have to go on is common sense and an understanding of supply and demand.
To: Tulsa Ramjet
7
posted on
08/08/2011 8:26:43 AM PDT
by
expatguy
(The Expat Needs Beer Money - Cough Up!)
To: Tulsa Ramjet
Greenspawn KNOWS that currency is NOT MONEY..
Yet he said this anyway... i.e.. propaganda..
Agitprop for the rubes.. Are you a RUBE?..
8
posted on
08/08/2011 8:27:16 AM PDT
by
hosepipe
(This propaganda has been edited to include some fully orbed hyperbole...)
To: Tulsa Ramjet
his libertarianism gave way to andrea mitchell’s statism.
9
posted on
08/08/2011 8:27:45 AM PDT
by
ken21
(ruling class dem + rino progressives -- destroying america for 150 years.)
To: Berlin_Freeper
“Obama to deliver statement at 1 p.m. EDT - NBC News”
Oh NO,,, everytime he opens his mouth the market crashes again.
10
posted on
08/08/2011 8:27:59 AM PDT
by
DesertRhino
(I was standing with a rifle, waiting for soviet paratroopers, but communists just ran for office)
To: Tulsa Ramjet
He’s right. And the BBA is a very BAD idea. Going back to gold or gold-silver or gold-metals-basket would be a great thing.
But to get there we first may need to blow the greenback to Kingdom Come.
11
posted on
08/08/2011 8:30:01 AM PDT
by
bvw
To: Tulsa Ramjet
Just print up one of these and we can pay off the debt and have a lot saved up for future Social Security and Medicare bills.
Hey, Alan, inflation is slow motion default with every extra uptick in the CPI. What every happened to the Alan Greenspan who followed Ayn Rand?
12
posted on
08/08/2011 8:30:21 AM PDT
by
KarlInOhio
(The Repubs and Dems are arguing whether to pour 9 or 10 buckets of gasoline on a burning house.)
To: Tulsa Ramjet
Ticker Guy has a great way to describe this sort of remark: technically correct, but factually lying. Nuff said.
13
posted on
08/08/2011 8:31:00 AM PDT
by
sayuncledave
(A cruce salus)
To: Berlin_Freeper
Shoot, I bet 11 AM in the FR pool yesterday.
14
posted on
08/08/2011 8:31:22 AM PDT
by
bvw
To: Tulsa Ramjet
Well, technically he IS correct. We could simply print $14 Trillion and pay off the debt. Of course what he failed to mention is that inflation would be running in the triple digits and a loaf of bread would cost $500 dollars.
15
posted on
08/08/2011 8:32:13 AM PDT
by
apillar
To: Berlin_Freeper
16
posted on
08/08/2011 8:32:33 AM PDT
by
Jim from C-Town
(The government is rarely benevolent, often malevolent and never benign!)
To: All
Greenspan went nuts as soon as he married Andrea Mitchell.
To: Tulsa Ramjet
When the war broke out on July 31, 1914, the Reichsbank (German Central Bank) suspended redeemability of its notes in gold. After that there was no legal limit as to how many notes it could print. The government did not want to upset people with heavy taxes. Instead it borrowed huge amounts of money which were to be paid by the enemy after Germany had won the war, Much of the borrowing was discounted and monetized by the Reichsbank, this amounted to issuing straight printing press money.
Perhaps the most well known example of hyperinflation occurred in Germany from 1922-1923 where the average price for all goods and services increased 20 Billion times. Prices doubled every 28 hours for 20 months! Some Germans were seen carrying cash in wheelbarrows to buy a loaf of bread.
18
posted on
08/08/2011 8:37:37 AM PDT
by
Tulsa Ramjet
("If not now, when?" "Because it's judgment that defeats us.")
To: Tulsa Ramjet
Inflation? What inflation?
Using Greenspan's reasoning, the Fed should just print up $300 Trillion and distribute it to the people and make us all wealthy. We can all be millionaire's!!!
Every man a king,
Every man a king,
For you can be a millionaire.
If there's something belonging to others,
There's enough for all people to share.
When it's sunny June and December too,
Or in the winter time or spring.
There'll be peace without end,
Ev'ry neighbor a friend,
And ev'ry man a king.
What a sell out putz. Just remember that he was the genius who held interest rates too high for too long back in 2000 and delivered us the "Bush recession," which actually began under Clinton.
19
posted on
08/08/2011 8:38:00 AM PDT
by
Sudetenland
(There can be no freedom without God--What man gives, man can take away.)
To: Tulsa Ramjet
Seriously? He said this?
Tell me this is from the Onion. Somebody. Please.
20
posted on
08/08/2011 8:39:35 AM PDT
by
Mrs. Don-o
(Dry understatements free of charge, one per customer until supplies are exhausted.)
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