To: orkrious who wrote (6452 ) 9/15/2002 4:04:53 PM From: SOROS Read Replies (2) | Respond to "What stands out in my mind was his 180 degree turn after his "irrational exuberance" speech in 1996. Up until the Mexican crisis in 1994-95, Mr. Greenspan had done a remarkably good job in reducing the growth in the U.S. money supply to levels consistent with the long term growth of real and honest money, namely gold. Indeed his tight money policy at the turn of the decade cost George Bush senior the election in 1992 which paved the way for a more interventionist Administration in Washington. Greenspan's reduction of the money supply was consistent with his views about fiat money and how it is used to enhance the dictatorial powers of the state and undermine a sound economy. But his excuse for not being true to his beliefs has always been that his views were in the minority at the Fed."rense.com
