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Non-Tech : The Woodshed
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To: SwampDogg who wrote (30768)7/22/2005 8:31:34 PM
From: SwampDogg  Read Replies (2) of 60907
 
Don't know if this has been brought up but does anybody know if and where there is a complete transcription of the Q&A between Greenspan and the Senate this week?
There was an absolutely amazing exchange when the question of the return to the gold standard. Greenie's answer was absolutely stunning.
The general point of his answer was that we did not need to have a return to the gold standard because since the early 1980s central banks have been behaving so prudently that is as if we were really on the gold standard.
Did anybody else catch this? This was probably the most amazing thing that I have heard him say. I gets to the real meat of the whole issue. He can not actually believe that.
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