Martin Armstrong interview
derryb
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Armstrong discousses the euro, FED, banking and the US economy
"The vast majority of the members of Congress don't think they have any responsibility for the economy. They throw their hands up in the air and say "well, that's the Fed's job.""
" In theory, what are they trying to do with the gold standard? They are trying to say, if we put the gold standard in then you can't create money beyond what you have in gold, but they did that the last time. I don't see where that is some sort of magic bean that's going to stop them from doing it again. It gets to a stage where it doesn't matter if you use conch shells for money or gold. There is no fiscal responsibility in government. We have to eliminate the core problem and eliminate government borrowing except in time of war."
"The vast majority of the members of Congress don't think they have any responsibility for the economy. They throw their hands up in the air and say "well, that's the Fed's job.""
" In theory, what are they trying to do with the gold standard? They are trying to say, if we put the gold standard in then you can't create money beyond what you have in gold, but they did that the last time. I don't see where that is some sort of magic bean that's going to stop them from doing it again. It gets to a stage where it doesn't matter if you use conch shells for money or gold. There is no fiscal responsibility in government. We have to eliminate the core problem and eliminate government borrowing except in time of war."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Comments
That was a good interview . Martin seems to think its not the Feds fault , the Fed is just a convenient scapegoat for the politicians excess. I've never looked at it that way before but its interesting.
lol
I knew it would happen.
Thanks for posting it!
Here's a warning parable for coin collectors...
But its true that the real problem is not the gold standard or even the fiat...
(Congress, Feds, politicians, big business, wealth, etc., only do what we elect them to do, or what we let them do.
The full responsibility still resides equally with all 300 mill of us. We're not really saying stop.... )