Douche

Douche

By

Mitchell Gray

Alan Greenspan is a douche. A Douche with a capital ‘D’. A recent AP article has Greenspan saying “A critical pillar to market competition and free markets did break down. I still do not fully understand why it happened.” You want to know what happened Mr. Greenspan?

WE HAVEN’T HAD A FREE MARKET FINANCIAL INDUSTRY FOR 95 YEARS!!

In 1913 the Federal Reserve was born and by 1929 they had destroyed the economy to grab more control of the financial sector. Every couple of decades or so the Fed will create a lot of cheap credit which fuels malinvestment and sends the economy into a tailspin towards collapse to grab just a little more power. This new bout with bad credit isn’t new, it’s just bigger. During the 18 or so years Greenspan ruled over the economy he doubled the amount of dollars in circulation. His policies created artificially low interest rates which fueled a credit expansion that has been unrivaled in history. Anyone remember the tech boom and bust? That was caused by the cheap credit Mr. Greenspan pumped into the market. It was the Feds socialist policies that created the housing bubble in the first place. Their easy credit schemes attracted a large number of people who couldn’t have afforded a home with market established rates. Combine this with the Feds insistence that banks loan this new cheap credit to those who had less than great credit scores created the housing boom and now the bust that must follow.

Most people don’t realize this but one of the ten planks of the Marxist socialist system is the establishment of a central bank which can take control over the nations financial industry. We talk about the socialization of the financial markets today but that happened in 1913 when the Federal Reserve Bank was established helped by the creation of the Federal Deposit Insurance Corporation and Fannie Mae in 1933 and 1938, respectively. It wasn’t the free market that failed, Mr. Greenspan, it was socialism.

If we had a TRUE free market in the banking and financial industries our money wouldn’t be counterfeit unbacked fiat paper but would be gold and silver. If we had a TRUE free market there wouldn’t be a central bank, there wouldn’t be an FDIC, there wouldn’t be the government mortgage monopolies of Fannie Mae and Freddie Mac. If we had a TRUE free market in banking then banks wouldn’t be bailed out by the government because they failed to act responsibly with their investors money. They would fall, their good assets sold and the bad written off. If we had a TRUE free market in banking banks wouldn’t lend out more money than they had in reserve (known as fractional reserve lending) but would instead operate as 100% reserve institutions.

No sir, it wasn’t the free market that failed. It was the nearly 100 years of socialist monkeying with the market that finally failed. If you think the Great Depression was bad get ready for Great Depress II. The more money the Fed pumps into the system, the more control they exercise over the banking and financial markets, the more they attempt to bail out businesses and homeowners that should go under the harder the inevitable crash is going to be. The next Great Depression will be VERY bad indeed.

I said it before and I’ll say it again: Alan Greenspan is a DOUCHE!!!