It's ogre, Sup Forums. Chief Jew banker of the Fed and central banking guru (((Greenspan))) explicitly admits Austrian economist and former congressman Ron Paul was right about everything.
>zerohedge.com/news/2017-02-20/alan-greenspan-ron-paul-was-right-about-gold-standard >“Today, going back on to the gold standard would be perceived as an act of desperation. But if the gold standard were in place today, we would not have reached the situation in which we now find ourselves,” he said.“[T]here is a widespread view that the 19th Century gold standard didn’t work. I think that’s like wearing the wrong size shoes and saying the shoes are uncomfortable! It wasn’t the gold standard that failed; it was politics.” >And the punchline: “We would never have reached this position of extreme indebtedness were we on the gold standard, because the gold standard is a way of ensuring that fiscal policy never gets out of line.”
Link of the interview of Greenspan/ >www.gold.org/download/file/5497/Gold_Investor_February_2017.pdf
Guess I forgot to mention niggers or cute anime girls in the OP to bring attention to the thread. Shameless self bump using my Paul folder.
Wyatt Clark
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Ryder Perry
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Ian Jenkins
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Anthony Long
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Samuel Morris
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Carson Barnes
Where does he mention Ron Paul?
Still, this is a pretty big deal. Can't imagine even the biggest proponents of fiat believe their own horseshit.
Samuel Howard
One chance every month to Paulposting.
Ryder Russell
In one of the answers, >When I was Chair of the Federal Reserve I used to testify before US Congressman Ron Paul, who was a very strong advocate of gold. We had some interesting discussions. I told him that US monetary policy tried to follow signals that a gold standard would have created. That is sound monetary policy even with a fiat currency. In that regard, I told him that even if we had gone back to the gold standard, policy would not have changed all that much. Further on, he says that it was bullshit.
Christopher Ramirez
(((Greenspan))) admitting the gold standard was superior?
What kind of a timeline am in, anyways?
John Hill
That's called backtracking.
I do that too, when I say some truth that I shouldn't.
Jose Evans
I like Trump but I fear his dominance has overshadowed Paulposting a bit too much.
Best timeline.
Landon Carter
We need to go on the loli/ rare pepe standard.
Robert Peterson
Irrelevant. Central banking won't stop.
Jose Sanchez
>tfw grandpa paul has always been right
William Long
Perhaps Trump will be enough of an absolute madman to at least launch a public audit. He has already pissed off all the people he would piss off doing it. I think a large section of the public is ripe for the number one red pill. It's just not a thrilling subject for normies so it's will need careful exposition but once you hit a critical mass I don't see the current status quo remaining for more than a few years.
Matthew Sullivan
The meme stealing it's been rutless.
But we will always know the truth.
Aiden Wright
The truth is there.
Evan Long
FIAT currency faggots Blown The Fuck Out
Isaiah Flores
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Asher Nguyen
No shit, you can't obtain this kind of debt on the gold standard but it's a trade off for more growth
Jacob Cruz
No political subject is thrilling for normies but if you time it right you can redpill broke people about the jews and (((central banks)))
Kevin Sanchez
Momentary gains.
What you have already lost you will never take it back.
Carson Mitchell
Greenspan has been advocating the gold standard since the 1950s.
Brayden Anderson
Perhaps but talking about the Wall will give more passion to most people, whether or not they are cucks. Monetary policy is a comparatively technical, esoteric subject.
It's really not. Giving fake incentives backed by force to either spend or invest contrary to actual wants can sometimes make a balance sheet look better for a few years but we both know that's not really "more growth".
He had an interesting "pause" in his advocacy which corresponded exactly to his work at the federal reserve. You'll have a hard time saying that his actions at the Fed weren't the opposite of what a gold bug would have done.
Evan Long
Funny, because him and Friedman took us out of it during the Pinochet years.
Ethan Hernandez
I spent 10 hours making this OC
Luke Diaz
>ron paul was right again no fucking shit the guys pretty much the most intelligent person i've heard of when it comes to anything government really.
Ethan White
This is the best news I've heard in a while. Ron Paul has a special place in my heart, not only because I think he's one of the greatest Americans to ever live, but because my grandfather loved him.
My grandpa was the man who brought my attention to Ron Paul, after stating he liked him in the 2008 election.
Ever since then, I've always known Ron Paul was right.
My grandpa died right after Obama's election in 2008. His funeral was held on the day Obama was inaugurated. That day was arguably the turning point of my life.
Good God, do I miss him. If only he were alive right now to see how right he was about Ron Paul.
Hunter Miller
It's because of Austrian Autism Once you master it you can predict anything
Angel Butler
Fuck I miss these memes. Good times.
Ethan Martinez
F
Charles Anderson
Greenspan didn't put the US back to the gold standard for a simple reason. In order to do so seamlessly, US monetary policy would need to fulfill certain criteria. If it did so, it would already have the benefits of the gold standard, and implementing the standard would serve no purpose except to limit future flexibility. It was deemed better to manage monetary policy outright rather than work to remove a tool.
>controlled fiscal policy >as distinct from economic entropy
you cannot make money from nothing form that, gormless goy
Aaron Brown
I think user is talking about chile
Isaiah Moore
Yeah, I remember that lame excuse.
Like the fact that they were advocationg for the dollarization of economies every where else, and the influence of the petro-dollar didn't have a role on it.
Thomas Sanchez
Sure, I just wanted to add some context about the US. Greenspan made a decision not to push the US back to it early in his policy career.
Hudson Lopez
Thanks bro. I miss him a lot. I wish he didn't have to die knowing Obama was about to become president. At least without knowing that Trump was going to be President after.
Elijah Hernandez
>Ron Paul was right No shit. When was he ever wrong?
Justin Cook
"Tool" is a kind euphemism for monetary policy. It's basically price control on by far the most important prices in the world. And handed over to bankers. And not subject to political takeover at all.
Oy vey indeed.
Ayden Hill
minus the absurdity that youre putting evaluations on a resource that can be manufactured by jews to the point of deflation
oh goyim
Luke Baker
>you will never follow under Ron Paul's standard in last stand of Christendom and the West
Chase Wilson
>resource that can be manufactured Gold can't be manufactured. You can painfully mine some of it in quantities infinitesimal compared to the money creation of the last QE.
Brody Gomez
gold is a terrible idea because it ties currency to speculation and trade. very volatile, difficult to make mp based upon. we just need stricter rules on fiat so we can't print 20 trillion in debt
Julian Diaz
Really im surprised this isnt common knowledge. Money turned to paper. You wonder why the market can be manipulated so much. Gold and silver coins should have never changed to paper.
Benjamin Kelly
You can speculate on and trade fiat currencies. Trading actual commodities instead of fiat (not necessarily gold here) destroys the political "technocratic" takeover of the entire financial system.
Jason Thompson
greenspan is a goldbug from way back
notice he never pushed it when he could have
gold standard is a scam
Ian Rogers
Sup Forums's attention span is too short to care about Ron Paul.
Leo Gonzalez
Gold is a meme. If you don't understand why, you don't understand econ. The problem is the private control of money creation, not fiat.
if this doesn't make goldbugs wake up to the bullshit they're being sidetracked with, I don't know what will
Henry Collins
>If you don't understand why, you don't understand econ. At least that eliminates Greenspan now. >The problem is the private control of money creation, not fiat. Yeah, I'm sure government would do a much better job as it always does. Oh wait, a leaf.
Guess what year Switzerland got rid of the gold standard.
Juan Walker
This is really, really sad.
After 20 trillion of debt and unlimited quantitative easing the experts reveal they don't know what to do now.
>you can't just peg all value to a shiny rock! Well look what the alternative got us.
Asher Thompson
>Yeah, I'm sure government would do a much better job as it always does. Question: do you have any idea how a gold standard ever worked?
Caleb Brown
I think the large majority of them know. They don't know how to get out of this mess, but every time they made a decision, they had a rather clear goal in mind.
Isaac Wood
The gold standard being recognized in courts has little to do with giving monetary policy powers to the government.
Austin Ward
Janet Yellen's term is up next year and Trump gets to appoint her replacement
Let's hope he's holding back Ron or Rand for that
Lucas Thomas
>volutary socialism what in the actual fuck is he talking about people are greedy pigs who horde their wealth
Joshua Powell
He has been talking about Rand to Audit
Jacob Sullivan
You didn't read the whole thing did you?
Dominic Edwards
Sauce? I'd see him do it but it went under my radar.
Jayden Anderson
>tfw no nigger anime girl gf
Wyatt Stewart
I think it's like, public healthcare, whoever wants it will have to pay extra taxes for it but at the same time will be allowed its' services, on the other whoever doesn't want it won't pay extra taxes but won't be allowed its' services
Nathan Lewis
>Died and went to heaven. >Same day Obama became president Feels good man
Josiah Adams
Problem is his motivation for the audit. I remember he said that his reason for it was because he thought Yellen kept interest rates low to get business going and make Obama look good (unsurprisingly, she proposed to raise them recently)
Nicholas Ortiz
Ron Paul was too good for us. He could have been one of the great leaders in history, but we were too stupid and we deserve the retarded meme candidate we have.
Jaxon Brooks
WTF? Does Trump not know that keeping Jews in the Federal Reserve Chairman position is a time-honored tradition for the US for many decades now? How will this go over with our greatest ally Israel?
Brandon Collins
we'll probably adopt a "diamond standard" and replace with a "gold standard" when he have fusion reactors running.
Diamonds can be synthesized but not printed as fast as paper. Creating diamonds also requires more energy.
If my idea gets adopted call me the Man in the Sphere.
Sphere Diamond Standard.
Diamond wafers, diamond crystals of a certain size.
Nicholas Cook
>basing your currency on worthless rocks that are more common in Africa than bugs are on earth
retard
Grayson Brown
The diamond standard can work like bitcoin.
The more energy and resources your produce, the more you can "waste or use" making diamond gems of a certain size.
Julian Butler
Why do we need a standard? Why can't we just have a law that keeps the money supply constant?
Jackson Sanchez
In the end, the audit happening is the main thing. Trump comes from a background on the side of the business borrowers. I don't think he'd go full Ron Paul on their asses except if he decides to go full frontal war against the deep state. By the mere audit is enough to red pill tens of millions of people about the fed. Imagine the MSM having to cover the actions of Bernanke. I can already see the failing New York Times headlines.
Sebastian Brown
Greenspan has always been a hardline libertarian. And monetarist economists like friedman etc are almost always open to private banking and in some degree even gold standard.
Christian Hughes
gold is also useless.
reject diamonds can be used like gold flecks... to make saw blades or jewelry.
Lucas Scott
Oh naive one, you sound a lot like Nixon.
Xavier Richardson
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Brayden Bennett
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Jace Diaz
>gold is useless
Gold is an extremely valuable conductor used in circuit boards and electronics. Reply to me when you aren't a rural or suburban retard anymore.
Adam Barnes
I thought we don't have gold anymore?
Blake Miller
thats a horrible idea because velocity of money is not constant, whch would cause fluctuations in price levels. the 2nd reason is that there are many defenitions of money supply, and keeping anything but the narrowest idea of money constant is impossible because of fractional reserve banking.
Landon Russell
The diamond.
The scarcity similar to gold but reproducable like paper money or metal coins.
If we had fusion reactors and could be gold out of hydrogen then gold could be used like fiat money.
Ayden Johnson
yes but that is not the reason gold is priced at 37million per ton.
Ryan Gutierrez
thanks for posting OP
Aaron Stewart
Saying diamonds are useless is like saying gold is useless.
Diamonds had industrial applications, like gold. You didn't get that...
Michael Stewart
Please stop shitting up this thread with your lack of basic understanding of science or economics, thanks.
Jason Rogers
Do you think Greenspan had a big ole hard-on for Ron Paul while he was speaking to him during this inquisition? youtube.com/watch?v=9-JWBBHuX_c
Leo Cox
Oh I guess I see sort of. If you back every dollar with a certain amount of gold it becomes impossible for banks to legally create more money if there isn't more gold, either that or some money has to be destroyed.
Wyatt Butler
gold is used very little in modern electronics
Daniel Reed
I never said they were useless, I said they were worthless because they're almost as common as iron in Africa - literally no real monetary value and an infinite natural supply. China could collapse a diamond standard in 5 years tops with their new empire on the dark continent.
Caleb Sanchez
It's useful. t. working in photonics
With the gold standard we may meme India to superpoower by 2020.
Cheers.
Hudson Russell
There was a time that the Spanish were extracting so much silver, they devalued it to the point that the marker for the stuff crashed.
If we had fusion reactors, we could hypothetically make so much gold that it becomes as worthless as paper. A gold coin would only have the value printed on it and not the value of its composition.
Luke Garcia
Paulposting will always be quintessentially Sup Forums
Joshua Russell
1. silver is far more common than gold 2. we don't have useful fusion reactors and likely won't for a long time 3. creating gold from smaller atoms would waste so much energy that it couldn't ever plausibly be profitable.
Alexander Sanchez
If we had a perpetual electric generator, we could make free energy for everyone!
Samuel Diaz
yeah, gold standard without central banking or some government involvement would most probably much more volatile than the current system. doubt it. They are from much different schools of economic thought. Greenspan thinks gold is a useful tool to balance fiat currency while ron paul is more ideological proponent for gold who will always say that gold is the answer.
Julian Rogers
Somehow that devaluated market recovered themself once the britains got in control of the silver market.
