In ancient times the Romans held the gold,
not the Barbarian race.
Now the elites cry only Barbarians hold gold,
Run kid!
Fetch me my mace.
*********
"The Subprime Crisis will not affect the economy overall."- US Federal Reserve Chairman Ben Bernanke, June 20th, 2007
"Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned."- US Federal Reserve Chairman Ben Bernanke, June 9th, 2008.
"At this juncture . . . the impact [of the housing bubble bursting] on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained." – Ben Bernanke, March 28, 2007.
“I don’t fully understand movements in the gold price,” -- Ben Bernanke, June 2010.
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." - Alan Greenspan, 1966.
"Would there be any advantage, at this particular stage, in going back to the gold standard? And the answer is: I don't think so, because we're acting as though we were there." -- Alan Greenspan, 2005.
(translation: 'we're playing make-believe, which is just the same as reality').
not the Barbarian race.
Now the elites cry only Barbarians hold gold,
Run kid!
Fetch me my mace.
*********
"The Subprime Crisis will not affect the economy overall."- US Federal Reserve Chairman Ben Bernanke, June 20th, 2007
"Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned."- US Federal Reserve Chairman Ben Bernanke, June 9th, 2008.
"At this juncture . . . the impact [of the housing bubble bursting] on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained." – Ben Bernanke, March 28, 2007.
“I don’t fully understand movements in the gold price,” -- Ben Bernanke, June 2010.
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." - Alan Greenspan, 1966.
"Would there be any advantage, at this particular stage, in going back to the gold standard? And the answer is: I don't think so, because we're acting as though we were there." -- Alan Greenspan, 2005.
(translation: 'we're playing make-believe, which is just the same as reality').
“. . . . In reviewing the conflicts which have taken place between
different interests in the United States and the policy pursued since
the adoption of our present form of Government, we find nothing that has
produced such deep-seated evil as the course of legislation in relation
to the currency. The Constitution of the United States unquestionably
intended to secure to the people a circulating medium of gold and
silver. But the establishment of a national bank by Congress, with the
privilege of issuing paper money receivable in the payment of the public
dues, and the unfortunate course of legislation in the several States
upon the same subject, drove from general circulation the constitutional
currency and substituted one of paper in its place."
--Andrew Jackson, from his farewell address in 1837
--Andrew Jackson, from his farewell address in 1837
