Alan Greenspan on Gold Standard

Yeah, NOW, now that he's retired and not doing that job. Show me some examples of him pushing the gold standard while in office? As far as I'm concered he's the lowest of the low, for he KNEW the damage he was doing and this vid just proves he never did change his views on that, he just went ahead and did it anyway, the slime.

"but by jimininy you can't pretend to claim someone working for the Fed was supporting free markets and the gold standard!"

Ummm, he slashed interest rates to rock bottom. He didn't object to the fundamental bank deregulation of the 90s. And we're not "pretending" that he supports the gold standard...he's saying it right on this very video.

Oh behave, he loved the gold standard before working for the Fed, has since repeated it AFTER working for the Fed - but by jimininy you can't pretend to claim someone working for the Fed was supporting free markets and the gold standard!

And who's policies got us into this crash again? The same guy who said de-regulating banks, slashing interest rates to rock bottom?

Yea, he thinks a gold standard is a great idea too. I'd love to see this "failure in my view of how the world works" also.

Unless you get a housing crash, like the one happening right now perhaps? Doh.

Dirt-pokers are useful, hardworking, dedicated and so on - but no-one said they were smart...

please I am too dumb to understand your convoluted answer so make it simple in your opinion should we or should we not abolish the Fed Mr.Greespan?

"under a gold standard prices are merely how much an item is worth in terms of gold, purchasing power is what matters and that will remain flat if supply equals demand"

Tell that to the high Plains farmers in the late 1800s, when we were on a bi-metal silver/gold standard. The value of gold kept rising(no new reserves discovered,) so the price of goods fell. Farmers had to burn their own crops to artificially inflate to keep from losing profits.

mr perez you misunderstand the difference between price and purchasing power...while prices generally fall under a gold standard this is because of great productivity...if we take out the supply and demand equation, real prices will remain flat...nominal prices will rise when gold falls and fall when gold rises...under a gold standard prices are merely how much an item is worth in terms of gold, purchasing power is what matters and that will remain flat if supply equals demand

robbing our wealth...... gas prices go up right?

Look at the price of gold to oil it does not change

the price of gold to dollars is mind blowing

anyways the dollar goes down you get paid the same... thanks

are you crazy?

gold does work, they are destroying the dollar

"30 House wouldlose value because youre mixing it with inflation and money not comparative comodity like gold!"

??? What difference does it make if you buy property with dollars or gold??? At the end of the deal, you still have just property. And that property's value WILL gain value in the long term, irrelevant of what the other markets are doing or what monetary system you use.

Gold isn't the only commodity that gains value over time. Owning a home is a good stable investment too

30 House wouldlose value because youre mixing it with inflation and money not comparative comodity like gold!
Gold makes stability and longterm planing and credit and many profitable credits that were taken in 90s are now exaclty becoming BAD and losing money or their investors because of inflation. But then INFLATION makes wars possible so thats why they keep it and its much closer tied with foreign policy (agressive one) then people think.and many expanding superpowers have creashed that way

"The house worth 100 dolars - 100 unces of gold ,in 100 years gets worth 10 dollars but still 100 unces of gold!"

it's 'ounces' first off. Funny how spelling is a first grade skill also(since when has economics been first grade?)

Secondly, property gains value over time!! You're completely in denial if you don't accept that. You're telling me homes bought 30 years ago(when we completely cut the gold for good) are worth LESS today then back then?

3 words: Real-Estate Appraisal.

typo- paycheck 5 dolars but still 50 unces of gold.