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Joe Parente's Comments

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Ben Bernanke: Gold Standard Results In 'The Reverse Of What A Central Bank Would Normally Do'

Ben Bernanke: Gold Standard Results In 'The Reverse Of What A Central Bank Would Normally Do'

Commented Mar 22, 2012 at 09:28:54 in Business

“Hey Ben, let's see what your predecessor said about gold before he was bought out by the bankers too:
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves." - Alan Greenspan - 1966”

gerald4 on Mar 22, 2012 at 12:30:29

“I like Alan Greenspan's statement.”
huffingtonpost entry

The Logic and Fairness of Greece's Program

Commented Mar 21, 2012 at 10:58:10 in Business

“"To get back to health, Greece needs two things. First, a lower debt burden. Second, improved economic competitiveness. The new program addresses both."

No it doesn't. To get back to economic health the WORLD needs stable currencies not created AS DEBT by institutions like the IMF, World Bank, BIS, The Bank of England and the Fed. Bankers creating money from debt is the PROBLEM, not the solution.

“The issue which has swept down the centuries and which will have to be fought sooner or later is The People vs. The Banks.” - Lord Acton, Historian, 1834 - 1902

It's about time the people started fighting back against the banks.”