Greenspan comes clean and endorses the 'Zimbabwe-Weimar Solution'by Bill Anderson, LRC Blog
Aug. 07, 2011
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Hey, those idiots at S&P don't know anything about money and U.S. debt! Says who? The Great Alan Greenspan, that's who! Default? Fuhgeddaboutit! Here is the latest:
Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating.Granted, because I am in the Austrian camp, I don't know anything about economics and money, but I still think my question should be asked: Is not the very act of paying a debt using newly-printed money in itself an act of default? Or, maybe I should be asking a more pertinent question: What has Greenspan been smoking?