In the old brute days, a man fought for the right to breed…or even to exist. The modern article connives instead — and as a conniver there has never lived a finer specimen than Alan Greenspan.
A true snake! I remember your interview with Greenspan. I also remember that he was a disciple of Ayn Rand......man did he switch sides quickly. I am sure his personal financial status was in great shape long before he left the FED. It would be good if everyone understood that the FED DOES NOT work for we the people. It works for the TOP FIVE BANKS in the country. What a real snake pit.
well that was my point as well before being castigated impliedly because I pointed out the TOP FIVE banks were all Jewish banks and for the most part still are.....and Greenspan is Jewish, though the FED has ALWAYS worked for THEM. The system is corrupt beyond measure and the mob makes money ITS WAY and the Banks make money THEIR way so to speak And CONSUMERS get gored. We the SHEEPLE. And so it is what it is, not being pessimistic and dark, just the facts. And for those reading into this again, you wont find a BIGGER supporter of Bibi and the State of Israel than me and for RIGHTEOUS OBSERVANT JEWS in the USA, mostly those who are conservative and vote Republican but also some who are centrist democrats. SO ITS NOT ANTISEMITISM AT ALL.
When you investigate crimes scenes you go where the evidence takes you. PERIOD. I do that with banking, investing and all I have done my entire career (retired now) and wearing more than one hat at a time I might add. I call em as I see em PERIOD.
And yes "my people" have a lot to answer for too! So you know.
I remember watching Greenspan on the Louis Rukeyser show as a guest commentator speaking about the virtues of sound money, gold specifically. It was really my first exposure to that idea. Then when he was appointed Fed chair I thought this was it, finally something to build a strong monetary foundation on. Then his reign of destruction began. After he was done as chair, I saw him speak once again about the virtues of sound money. I’ve wondered about him after that talk. What does a man feel about himself after going against everything you believed in? RIP
If Alan had called the wolf in sheep's clothing back then, a wolf, we might've been in a lot stronger position today. But obviously he wasn't put there to build strength but to outlast reality. Political reality is one hell of a stretch from reality.
WELL BILL CAN WISH OLD ELMER FUDD A NICE SOFT LANDING IN HEAVEN ALL HE WANTS, BUT THE CORE OF BILL'S MESSAGE WAS VERY CUTTING AND CRITICAL. OF COURSE BEING A FINANCIAL JOURNALIST SEEKING MONEY FROM SUCKERS ALL DAY LONG (LIKE ME) HE SEEKS ALSO TO MATTER AND TO BE RECOGNIZED ETC. AS ALL HUMANS DO. WHY WE DO THAT? BECAUSE OTHERWISE ITS ABSURD THIS THING CALLED LIFE....WHICH WE KNOW FROM FRENCH LITERATURE SPECIFICALLY CANDIDE THAT LIFE IS IN FACT ABSURD SO WE TEND TO OUR OWN GARDENS AND TRUDGE ON AWAITING WHATEVER COMES NEXT...EITHER A NOTHINGNESS BEYOND THE DARK BEYOND.....BEING AND NOTHINGNESS...THE EXISTENTIAL VIEW, OR OUR JUST REWARD IN HEAVEN HELL OR PURGATORY, WHICH CATHOLICS CREATED TRYING TO JUSTIFY NOT BEING SENT TO HELL FOR UNJUST REASONS.
HOWEVER, NOT WANTING TO PILE ON OLD ELMER FUDD AND BELITTLE AND DEGRADE AND INSULT THE DEAD, I DO HAVE TO CHUCKLE A BIT AND BILL IS CORRECT HERE...ELMER DID DO A 180 ONCE IN OFFICE...GOING FROM ACADEMIC AND CLARINETIST AND AYN RAND LOVER QUITE LITERALLY IT IS ALLEGED, TO A PERSON IN OFFICE WITH ALL THE KLIEG LIGHTS ON HIS FACE AND HAVING TO PEFORM OR BE SHAMED OR RUN OFF....AND WHEN FACED WITH THAT HOARD OF HYENAS....THE JACKALS OF WALLSTREET....HE DID WHAT MOST MEN DO....BOW TO WALLSTREET AND SAY THANK YOU AND GIVE THEM WHAT THEY WANT...INSATIABLE THIRST AND HUNGER FOR MORE GREED AVARICE BEGGAR THY NEIGHBOR AND THE EVILS OF THE TEMPLE DESCRIBED IN DETAIL IN THE HOLY BIBLE CHAPTER AND VERSE BOTH OLD AND NEW TESTAMENT. THE SEVEN DEADLY SINS.
NEW YORK IS THE ORIGINAL SIN CITY FOR MOST AMERICANS. LOOK AT THE US OPEN FOR GODS SAKE. ANOTHER DISGRACEFUL BEHAVIORAL EPISODE FROM THE DRUNKEN HOARDS OF CRYPO BROS DISRUPTING PLAY AND MAKING A MOCKERY OF THE GENTLEMAN'S GAME. TO THE POINT NOW VETERAN BROADCASTERS ARE DEMANDING THE PGA NEVER RETURN TO LONG ISLAND AGAIN. EVER. I CONCUR.
I CANT SAY MUCH OTHER THAN RELAY SOME PERSONAL EXPERIENCE....ONCE INTERVIEWED BY A LEGEND IN THE D.O....I MEAN A LEGEND.....TOP OF THE LEGENDARY LIST, AND WE CHATTED A GOOD WHILE AND HE WAS DIGGING FOR MY SOUL HE SAID, AND I ASKED HIM WHAT INTERVIEWERS WANT TO KNOW MOST AND HE WITHOUT WASTING A SECOND SAID TO ME, "P. ITS THIS WAY, WE WANT TO KNOW HOW YOU PERFORM UNDER PRESSURE AND WHEN THE KLIEG LIGHTS GO ON." AMEN BROTHER. (REST IN PEACE JIMMY....I MISS YOU BROTHER...GONE 8 YEARS AND IT STILL HURTS BAD) HE WAS SAYING THAT PEOPLE ARE ALL BRAVADO AND GYM RAT READY, FLEXING MUSCLES AND SHOWING UP WITH A GLOSSY RESUME...EVEN GETTING THROUGH TRAINING AND SO FORTH.....BUT THEN FOLD LIKE LAWN CHAIRS WHEN THE GOING GETS TOUGH OR THE LIGHTS TURN ON AND LIFE AND DEATH DECISIONS ARE AT THE CUSP OF YOUR NEXT BREATH.....AND THEY NEED TO KNOW YOU WONT FOLD...NOW SOME OF THAT IS BEING STUBBORN OR BELLIGERENT OR BOLD OR STRONG BACKBONE AND BALLSY....GOT IT....BUT EVEN GROWN MEN CRY. SO HE WANTED TO KNOW.
AND SO IT IS IN LIFE. SO OFTEN. WE GET PROMOTED TO THE NEXT LEVEL AND FIND OUT FAST IF YOU HAVE LEADERSHIP OR ARE AN OFFICE WEASEL OR ALL TALK....BIG HAT AND NO CATTLE. MOST PEOPLE ARE THE LATTER.
ALL TALK. BIG HAT NO CATTLE.
SO MY VIEW IS ELMER FUDD SIMPLY FOLDED UP HIS AYN RAND BRAVADO AND GAVE THE WALLSTREET SCUM WHAT THEY WANT....TO SAVE HIMSELF....AND THEN POLISHED IT WITH ADVANCED GOBBLEDEGUCK AND HID FROM THE TRUTH. AS BILL SAID, HE KNEW. WE KNEW. WE KNEW HE KNEW. AND HE KNEW WE KNEW HE KNEW BETTER.
THAT IS LIFE. IN POLITICS. IN GOVERNMENT SERVICE. IN THE MILITARY EVEN. AND IN BUSINESS. AND THE ART OF BULLSHIT.
I AM A SINNER TOO BTW. NO SANCTIMONIOUS CROWING HERE. I NEED DIVINE MERCY TOO. AND YES I HOPE TO LEAVE A LEGACY FOR MY WIFE AND KIDS NOT MEASURED IN WEALTH BUT IN LOVE AND COMPASSION AND MAYBE SOME ADMIRATION. THINGS THAT MATTER THAT THE LATE GREAT JOURNALIST, FORMER PSYCHIATRIST AND MEDICAL DOCTOR WHO HAD A DIVING ACCIDENT IN MEDICAL SCHOOL PARALYZING HIM YET FINISHED TOP OF HIS CLASS AND ON TIME....CHARLES KRAUTHAMMER M.D. A MAN I GREATLY GREATLY ADMIRED.
WE ARE ALL DOOMED NOW. MAYBE IT WAS ALWAYS SO. I DONT KNOW. I AM A BELIEVER IN JESUS CHRIST AND TRUST HIS WORDS ARE TRUE AND ACCURATE. OTHERWISE ITS JUST THE BLACK HOLE OUT THERE AND THAT WOULD BE ABSURD FOR ALL OF US...A POINTLESS LIFE FOR EVERYONE AND EVERY CREATURE. SO I TEND MY OWN GARDEN AS CANDIDE TAUGHT ME.
well he was indeed.....and baptized catholic but consider the times and that the Church was also the government and then the reformation came and the French Revolution and all that.....he was fallen away Catholic and disgusted by corruption in the church, so I give him a pass so to speak.....consider his views in context of the times he lived in and what was to come. I am NOT Panglosse. an eternal optimist....here on earth. I am a REALIST about human nature.....hope for peace prepare for war kinda person. Judge people (we all do it) by actions not words. Or INACTION as the case may be. I am optimistic of going to Heaven but not guaranteed and need and depend on the Divine Mercy of our Lord. Dr. Krauthammer was a Jew. and a FIND MAN, A MENSCH and RIGHTEOUS MAN, who corrected his own errors and ways....he left the Democrat Party because of it. Walter Mondale, btw, was also a fine man and I met him once and had a nice chat. I am NOT anti semitic at all. I am VERY pro Israel and Likud Supporter. I am a supporter of OBSERVANT RIGHTEOUS JEWS here at home. Christianity is a form of Reform Judaism, by Christ's OWN WORDS. Peter and Paul argued about it for a LONG time and reconciled in Rome in Prison before execution. Peter thought Jesus intended the Church for JEWS ONLY. Paul convinced him otherwise. Gentiles included. I am NOT a fan of unrighteous, non observant SECULAR Jews on WallStreet, who control MOST of it all....and always have, recognizing their acumen is one thing, but their conduct is another and also their history and why Jews are so strong in business.....survival of the fittest. BUT well...I digress and will leave it at that. God will judge them in finality and deal with them, as HE did with Greenspan yesterday when he died.
True that. And yes, positive people have higher EQ than most and those of us charged with finding TRUTH and prosecuting it or working around the Deep State have a different lot in life and thats also on me, for as they say often, "THIS IS THE life we chose " I did. And own it. Ive seen the mighty fall too. And I also note that some big hitters are going down soon on all this medicare fraud and other government fraud...soon. Then we need to clean up CONGRESS....and that cesspool of fraud waste and abuse and hypocrisy and theft.
A russian friend of mine years ago was having a frozen vodka with me one evening and we chatted about systems....and I pointed out our benefits and opportunities and freedom and he abruptly cut me off and pointed out the FRAUD of Wallstreet and Government and said DONT POINT FINGERS AT ME, P. Point well taken.
Great article Bill. Greenspan facilitated the bankruptcy of the developed world. He helped enrich the older generations (not their choosing) at the expense of arguably Gen X and definitely Millennials and Gen Z who have been royally shafted in a generational equivalent of the Cantillon effect.
Wouldn't it be better to say he helped enrich the connected crowd of the older generations? He certainly didn't help the members of the older generations who believed in working hard and saving money for those rainy days.
You are right Cartero that the elite benefited the most and I tried to qualify my point that the vast majority of the older generations were not complicit in this . However they did, I’m generalising now so please forgive me, benefit from more affordable housing, stronger stock market returns, lower college fees and greater benefits than the younger generations are & will enjoy.
So,... is America just a figment of our imaginations? It appears from the start of Greenspan's reign that most likely all Fed Governors since Alan were required to present a formidable image of strength while undermining the foundation of the US. So what happens now? This one essay makes obvious the importance of this illusion. So here is another superb illusion: AI presents another hope, a "solution" to the problem of too much credit. A series of chips, memory that can find miracles that the human mind hasn't so far found. I contend this "solution" is less understandable than Alan's mumbling of economically imperceptible jargon or for that matter it is unquestionably less understandable than economics. There are just too many permutations and transformations for the human mind to make sense of. But it seems like the human mind, it "talks" and explains. It does things 99% of humans can't do, like statistics, another important factor. No one knows what it is doing BUT it's final presentation it makes sense. What an absolutely perfect "solution" the human problem of wanting more than is possible. Geez, I wish I had thought of it myself. But what happens if this "solution" runs into a physical problem that is obvious to even the least astute "scientist" such as insufficient electricity to run the damn thing?
whats coming is shocking very very soon. And some of it from adversaries who will shut down our electric grid, water systems and military hardware and then what will we do? And also have all the specs on AMERICANS.
“For here was a fellow who ‘wrote the book’ on how counterfeit money picks the pocket of the honest.”
I watched “A Man For all Seasons” last night. Thomas Moore, one man above the crowd. Greenspan was part of the crowd; you will not find him on the road least traveled. He is dead. What are his achievements worth?
What sticks in my mind is Bill’s comments about Baby Boomers having too much money, having survived Greenspan by taking the only opportunity available, 401k.
Mr. Redstone - while I have to agree with your sentiments regarding Mr Bonner’s views on Israel, I must also say that his article here is the first truthful assessment of Alan Greenspan that I’ve seen. Mr. Bonner’s analysis is spot on, and it is not because Greenspan is Jewish; it is because of Greenspan’s actions as Fed Chairman. I also agree with Mr. Bonner’s declaration that Greenspan spoke in gobbledegook to confuse the public. I always felt the same way.
Kudos to Bill Bonner for speaking the truth. I wish more people would come out in public to reveal the consequences of Greenspan’s actions.
He’s certainly has his points about Greenspan but you could say that about any government official.. he shows great delight in showing his anti-semitism
be careful. pointing out someones Jewishness is NOT antisemitic. A lot of JEWS do that too. And the facts are what they are. See my reply further up this ladder of thoughts....I am NOT antisemitic and am VERY pro Israel and Pro Bibi and PRO righteous observant Jews and more. I am NOT a fan of WALLSTREET. Or Diamond Industry.
I am not a fan of the MSM which is inundated with SECULAR LIBERAL NON OBSERVANT Jews.....their POLITICS.
I own my faith and family and heritage and religion and politics and military record. STRAIGHT UP.
N.B., IT IS ALLEGED, AND I DONT HAVE THE FIGURES IN FRONT OF ME, THAT THE SINGLE LARGEST BAILOUT CONDUCTED BY SEC. PAULSON WHEN WE WERE LITERALLY HOURS....3 HOURS I WAS TOLD FROM TOTAL MELTDOWN AND ARMAGGEDON IN 2008, WAS TO THE SAUDIS WHO HAD BEEN CONVINCED TO BUY MBS AND DERIVATIVES PACKAGED BY WALLSTREET SCUM, AND SOLD TO THEM AS AAA RATED BONDS. THEY CALLED PAULSON ON THE PHONE I HEARD AND TOLD HIM DIRECTLY, YOU BAIL US OUT SINCE WE WERE HOODOOED ON THE RATINGS AND DO IT NOW, ALL OF IT, ONE FELL SWOOP, OR WE SIMPLY CUT YOU OFF FROM OPEC OIL FOREVER. HE BLINKED AND CALLED BUSH43 AND THEY STROKED THE CHECK TO THE SAUDIS. BIGGEST BAILOUT OF ANYONE IN THE 07-08 CRISIS. (MOSTLY OCTOBER 08) JOHN MCCAIN WAS TOAST AND BUSH KNEW IT AND SHRUGGED.
WHAT DID WALLSTREET DO WITH ALL THE MONEY THAT ELMER FUDD GAVE THEM ? AFTER HIS PREDECESSOR PAUL VOLKER HAD PUT US THROUGH THE RINGER FROM LATE 70S TO 83 RAISING RATES TO KILL THE INFLATION MONSTER? WHY WALLSTREET JUST REWARDED THEMSELVES. DONT YOU KNOW? THEY CREATED THE DOT COM BUBBLE, A BUNCH OF MINDLESS BOGUS COMPANIES AUTHORIZED WHEN CONGRESS DECIDED TO ALLOW BANKS TO DO IPOS AND CANCEL OLD LAWS RESTRICTING BANKS CONDUCT AND SEPARATING INVESTMENT BANKING FROM CONSUMER AND CORPORATE BANKING.....LETTING ANYONE DO IT AND THEN WALLSTREET AND THE SEC LET THEM DO IPOS WITHOUT BEING PUBLIC MORE THAN 3 YEARS AND WITHOUT PROFITS FOR MORE THAN 3 YEARS...AND PRESTO A BUBBLE APPEARED...AS THAT POPPED WALLSTREET SHRUGGED AND RAN TO MORTGAGES AND ALSO GOT CONGRESS TO OPEN THAT DOOR DUMPING MORE LAWS...LETTING ANYONE ORIGINATE MORTGAGES..LITERALLY PIZZA DELIVERY GUYS BECOMING MORTGAGE BANKERS OVERNIGHT...AND PRESTO....MORE CHICANERY AND A BUBBLE AND THEN THOSE BANKS DEREGULATED ABOVE BOUGHT THOSE MBS.....SOME SHUFFLED THEM OFF ON FOREIGNERS AND SOME FOOLISHLY KEPT THEM ON THEIR OWN BOOKS...UH OH....BUBBLE POPPED AGAIN AND THEN PAULSON BAILED THEM ALL OUT TO AVOID ARMAGGEDON....KNOWING THE SAFEGUARDS HAD BEEN REMOVED (A FACT BILL LEFT OFF BTW) AND WOULD TAKE DOWN MOM AND POP TOO....BUT MOSTLY FOREIGNERS WHO HAD A KNIFE TO OUR THROATS....OIL...THEN WHAT HAPPENED NEXT? THE SOCIAL MEDIA SCAM AND THE CRYPTO SCAM AND NOW THE AI SCAM....ITS ONE SCAM AFTER ANOTHER...WALLSTREET IS SCAM CENTRAL...THEY GET PAID HUUUUGE BONUSES AND SALARIES AND CREATE BIZARRE INSTRUMENTS AND CALL IT LIQUIDITY AND THEN ARTFULLY SAY ITS ALL GOOD FOR THE SYSTEM AND THEN SELL IT AND DISAPPEAR....AGAIN AND AGAIN.
LOOK. AYATOLLAH KHOMEINI SAID WALLSTREET WAS THE DEN OF INEQUITY AND NEEDED TOBE DESTROYED...HE WASNT WRONG. JUST WRONG ON SOLUTION.
ITS ALWAYS BEEN THIS WAY. SINCE THE CIVIL WAR WHEN WE DUMPED AGRARIAN AND SELF FEEDING/PROTECTING SOCIETY TO AN INDUSTRIAL BASE AND NEEDING FUEL AND SO FORTH...RAILROADS....THE ROCKEFELLERS AND STEAM SHIPS AND THEN VEHICLES TRUCKS AND CARS AND FACTORIES AND STEEL MILLS AND SO FORTH WALLSTREET PROVIDED THE LOANS TO BUILD THEM ALL. WALLSTREET ALSO FINANCED GERMANS IN WW1 AND ALSO WW2 BTW.
WHO ARE THE INVENTORS AND CREATORS OF SILICON VALLEY AND STILL ARE WITH AI? COMPUTERS AND CHIPS AND SERVERS AND NOW MASSIVE DATA CENTERS?
CATCH MY DRIFT? WHO RUNS WALLSTREET AND ALWAYS HAS? WHO RUNS THE DIAMOND INDUSTRY AND ALWAYS HAS? WHO RUNS THE GOLD MINING INDUSTRY AND ALWAYS HAS?
THE MONEYCHANGERS SHALL WE SAY, WHOM JESUS CONDEMNED.
NO WONDER THE KIDS OF TODAY ARE EMBRACING COMMUNISM (FOOLISHLY AS THEY KNOW NOT WHAT THEY D0)
Tom see above my further reply to others to show you what I mean and meant. And NOT I believe what YOU are thinking. I happen to love Mark Levin and loved Dr Krauthammer. BIG TIME.
But the facts are facts and who controls and created and orchestrates WallStreet. For goodness sakes, LOOK AT CNBC and BLOOMBERG....90% secular non observant jews and most of their guests are the same.
Its one's actions and life that we judge people by not one's words or necessarily culture or even race. NOT SAYING we christians or others are antisemitic and hypocrites and all that either. I point out OUR faults (and mine) oFTEN. And the CHURCH. I used to ask my mother why we needed to pray for priests...I was confused and she would say "men of clay feet." And left me to figure it out. It was a long time coming. I thought they were men of the cloth and "holy." Some were. Some werent. Some had egregious faults. I thankfully had superb priests growing up. Just superb. Old Latin Rite. Funny stories too...like the time I made an error in latin and rubrics at Mass as Altar Boy and our Pastor heard it and gently nudged me with his shoe under his Cassock and Alb to let me know he heard it! LOL.
Well, I was an Alter Boy also and repeated Latin responses with some knowledge of their meaning. You and I have traveled many of the same roads in terms of church and education, and I imagine our family of procreation. But I have never understood the angst with regard to Jewish population in America. They are very good at what they do, as you have underhandedly acknowledged. But the "why" of it you seemed to have attributed so something nefarious. I attribute their success in their many and various endeavors to family, religious beliefs and cultural, much like those of Asian decent in America.
Read and discern what I said more closely unless you like wallstreet I dont I participate out of necessity No more prnsions And so I comment on their actions snd what Bill said going bsvk forever Scam citu Beggar thy neighbor And greater fool theiry Then roll
On Collect bonuses On and on Facts I can say more Beem aroind a lomg time Irish were greenvisor guys never brokers
Well Bill, you got this one right, mostly. What you could have added was this is true (with the possible exception of Volker) for every Fed Chairman, Liberal or conservative. For the liberal ones it fit into their belief system, for the conservative ones who knew better (I include Greenspan), they were afraid of what might happen if they simply let the business cycle run its course.
I leave you with this question Bill, if magically you were put in charge of the Fed, what would you do? Specifically steps? Right here, right now. With your reputation on the line?
Why would Bill do that? There is nothing any of us can do to "right this wrong" - no more than we can make the Strait of Hormuz open. Money is Power and Power corrupts. It is the human trait - those in power are corrupt. So why do us peons think it shouldn't be that way? Are we that stupid? People want to get rich, want to have a great life - who cares about us minions? And, the propaganda is to keep us from rising up and cutting off their heads. Now with AI and all the technology - those in power will have the means to cull those of us that may starting to revolve. Life is going to be a whole lot less "free" and we see that everywhere - just look at "free speech" - is there "free" speech anymore. If you think so - and it is getting worse - you need to wake up and smell the coffee. If you are not one of the elites, you are losing your freedoms. But, the elites - they live in a whole another world. With money comes POWER and with power you are above the law.
There are those who say and/or believe the Strait is open, but when you look at Marine Traffice there are huge concentrations of tankers off Dubai to the West and Oman to the East with barely a couple transiting, tucked in against the south shore.
the adverse argument would be the "Bonner put"-gold which we the people have enjoyed the recent ride free of Fed interference.
what is interesting the lesson he left was that the public paid for his mistakes but Wall street went on to live the put again & again and at the moment some stocks are priced based on future earnings for which the market cannot substantiate. that is one lesson that was not in my books.
Your point of view differ for almost all i read so far, remember when you write an article that you also have subscribers from parts of the world where english isn’t their first language
Well said, Bill. The Greenspan put turned out to be a put on all our futures.
A true snake! I remember your interview with Greenspan. I also remember that he was a disciple of Ayn Rand......man did he switch sides quickly. I am sure his personal financial status was in great shape long before he left the FED. It would be good if everyone understood that the FED DOES NOT work for we the people. It works for the TOP FIVE BANKS in the country. What a real snake pit.
Jim Marshall
Excellent point. Most people forget this fact.
well that was my point as well before being castigated impliedly because I pointed out the TOP FIVE banks were all Jewish banks and for the most part still are.....and Greenspan is Jewish, though the FED has ALWAYS worked for THEM. The system is corrupt beyond measure and the mob makes money ITS WAY and the Banks make money THEIR way so to speak And CONSUMERS get gored. We the SHEEPLE. And so it is what it is, not being pessimistic and dark, just the facts. And for those reading into this again, you wont find a BIGGER supporter of Bibi and the State of Israel than me and for RIGHTEOUS OBSERVANT JEWS in the USA, mostly those who are conservative and vote Republican but also some who are centrist democrats. SO ITS NOT ANTISEMITISM AT ALL.
When you investigate crimes scenes you go where the evidence takes you. PERIOD. I do that with banking, investing and all I have done my entire career (retired now) and wearing more than one hat at a time I might add. I call em as I see em PERIOD.
And yes "my people" have a lot to answer for too! So you know.
now 'the fed' works for the greatest criminal syndicate/mafia ever created by human kind!
I remember watching Greenspan on the Louis Rukeyser show as a guest commentator speaking about the virtues of sound money, gold specifically. It was really my first exposure to that idea. Then when he was appointed Fed chair I thought this was it, finally something to build a strong monetary foundation on. Then his reign of destruction began. After he was done as chair, I saw him speak once again about the virtues of sound money. I’ve wondered about him after that talk. What does a man feel about himself after going against everything you believed in? RIP
If Alan had called the wolf in sheep's clothing back then, a wolf, we might've been in a lot stronger position today. But obviously he wasn't put there to build strength but to outlast reality. Political reality is one hell of a stretch from reality.
WELL BILL CAN WISH OLD ELMER FUDD A NICE SOFT LANDING IN HEAVEN ALL HE WANTS, BUT THE CORE OF BILL'S MESSAGE WAS VERY CUTTING AND CRITICAL. OF COURSE BEING A FINANCIAL JOURNALIST SEEKING MONEY FROM SUCKERS ALL DAY LONG (LIKE ME) HE SEEKS ALSO TO MATTER AND TO BE RECOGNIZED ETC. AS ALL HUMANS DO. WHY WE DO THAT? BECAUSE OTHERWISE ITS ABSURD THIS THING CALLED LIFE....WHICH WE KNOW FROM FRENCH LITERATURE SPECIFICALLY CANDIDE THAT LIFE IS IN FACT ABSURD SO WE TEND TO OUR OWN GARDENS AND TRUDGE ON AWAITING WHATEVER COMES NEXT...EITHER A NOTHINGNESS BEYOND THE DARK BEYOND.....BEING AND NOTHINGNESS...THE EXISTENTIAL VIEW, OR OUR JUST REWARD IN HEAVEN HELL OR PURGATORY, WHICH CATHOLICS CREATED TRYING TO JUSTIFY NOT BEING SENT TO HELL FOR UNJUST REASONS.
HOWEVER, NOT WANTING TO PILE ON OLD ELMER FUDD AND BELITTLE AND DEGRADE AND INSULT THE DEAD, I DO HAVE TO CHUCKLE A BIT AND BILL IS CORRECT HERE...ELMER DID DO A 180 ONCE IN OFFICE...GOING FROM ACADEMIC AND CLARINETIST AND AYN RAND LOVER QUITE LITERALLY IT IS ALLEGED, TO A PERSON IN OFFICE WITH ALL THE KLIEG LIGHTS ON HIS FACE AND HAVING TO PEFORM OR BE SHAMED OR RUN OFF....AND WHEN FACED WITH THAT HOARD OF HYENAS....THE JACKALS OF WALLSTREET....HE DID WHAT MOST MEN DO....BOW TO WALLSTREET AND SAY THANK YOU AND GIVE THEM WHAT THEY WANT...INSATIABLE THIRST AND HUNGER FOR MORE GREED AVARICE BEGGAR THY NEIGHBOR AND THE EVILS OF THE TEMPLE DESCRIBED IN DETAIL IN THE HOLY BIBLE CHAPTER AND VERSE BOTH OLD AND NEW TESTAMENT. THE SEVEN DEADLY SINS.
NEW YORK IS THE ORIGINAL SIN CITY FOR MOST AMERICANS. LOOK AT THE US OPEN FOR GODS SAKE. ANOTHER DISGRACEFUL BEHAVIORAL EPISODE FROM THE DRUNKEN HOARDS OF CRYPO BROS DISRUPTING PLAY AND MAKING A MOCKERY OF THE GENTLEMAN'S GAME. TO THE POINT NOW VETERAN BROADCASTERS ARE DEMANDING THE PGA NEVER RETURN TO LONG ISLAND AGAIN. EVER. I CONCUR.
I CANT SAY MUCH OTHER THAN RELAY SOME PERSONAL EXPERIENCE....ONCE INTERVIEWED BY A LEGEND IN THE D.O....I MEAN A LEGEND.....TOP OF THE LEGENDARY LIST, AND WE CHATTED A GOOD WHILE AND HE WAS DIGGING FOR MY SOUL HE SAID, AND I ASKED HIM WHAT INTERVIEWERS WANT TO KNOW MOST AND HE WITHOUT WASTING A SECOND SAID TO ME, "P. ITS THIS WAY, WE WANT TO KNOW HOW YOU PERFORM UNDER PRESSURE AND WHEN THE KLIEG LIGHTS GO ON." AMEN BROTHER. (REST IN PEACE JIMMY....I MISS YOU BROTHER...GONE 8 YEARS AND IT STILL HURTS BAD) HE WAS SAYING THAT PEOPLE ARE ALL BRAVADO AND GYM RAT READY, FLEXING MUSCLES AND SHOWING UP WITH A GLOSSY RESUME...EVEN GETTING THROUGH TRAINING AND SO FORTH.....BUT THEN FOLD LIKE LAWN CHAIRS WHEN THE GOING GETS TOUGH OR THE LIGHTS TURN ON AND LIFE AND DEATH DECISIONS ARE AT THE CUSP OF YOUR NEXT BREATH.....AND THEY NEED TO KNOW YOU WONT FOLD...NOW SOME OF THAT IS BEING STUBBORN OR BELLIGERENT OR BOLD OR STRONG BACKBONE AND BALLSY....GOT IT....BUT EVEN GROWN MEN CRY. SO HE WANTED TO KNOW.
AND SO IT IS IN LIFE. SO OFTEN. WE GET PROMOTED TO THE NEXT LEVEL AND FIND OUT FAST IF YOU HAVE LEADERSHIP OR ARE AN OFFICE WEASEL OR ALL TALK....BIG HAT AND NO CATTLE. MOST PEOPLE ARE THE LATTER.
ALL TALK. BIG HAT NO CATTLE.
SO MY VIEW IS ELMER FUDD SIMPLY FOLDED UP HIS AYN RAND BRAVADO AND GAVE THE WALLSTREET SCUM WHAT THEY WANT....TO SAVE HIMSELF....AND THEN POLISHED IT WITH ADVANCED GOBBLEDEGUCK AND HID FROM THE TRUTH. AS BILL SAID, HE KNEW. WE KNEW. WE KNEW HE KNEW. AND HE KNEW WE KNEW HE KNEW BETTER.
THAT IS LIFE. IN POLITICS. IN GOVERNMENT SERVICE. IN THE MILITARY EVEN. AND IN BUSINESS. AND THE ART OF BULLSHIT.
I AM A SINNER TOO BTW. NO SANCTIMONIOUS CROWING HERE. I NEED DIVINE MERCY TOO. AND YES I HOPE TO LEAVE A LEGACY FOR MY WIFE AND KIDS NOT MEASURED IN WEALTH BUT IN LOVE AND COMPASSION AND MAYBE SOME ADMIRATION. THINGS THAT MATTER THAT THE LATE GREAT JOURNALIST, FORMER PSYCHIATRIST AND MEDICAL DOCTOR WHO HAD A DIVING ACCIDENT IN MEDICAL SCHOOL PARALYZING HIM YET FINISHED TOP OF HIS CLASS AND ON TIME....CHARLES KRAUTHAMMER M.D. A MAN I GREATLY GREATLY ADMIRED.
WE ARE ALL DOOMED NOW. MAYBE IT WAS ALWAYS SO. I DONT KNOW. I AM A BELIEVER IN JESUS CHRIST AND TRUST HIS WORDS ARE TRUE AND ACCURATE. OTHERWISE ITS JUST THE BLACK HOLE OUT THERE AND THAT WOULD BE ABSURD FOR ALL OF US...A POINTLESS LIFE FOR EVERYONE AND EVERY CREATURE. SO I TEND MY OWN GARDEN AS CANDIDE TAUGHT ME.
As a believer in Christ, I don't understand why you are so fatally pessimistic...
Voltaire was no Christian...
well he was indeed.....and baptized catholic but consider the times and that the Church was also the government and then the reformation came and the French Revolution and all that.....he was fallen away Catholic and disgusted by corruption in the church, so I give him a pass so to speak.....consider his views in context of the times he lived in and what was to come. I am NOT Panglosse. an eternal optimist....here on earth. I am a REALIST about human nature.....hope for peace prepare for war kinda person. Judge people (we all do it) by actions not words. Or INACTION as the case may be. I am optimistic of going to Heaven but not guaranteed and need and depend on the Divine Mercy of our Lord. Dr. Krauthammer was a Jew. and a FIND MAN, A MENSCH and RIGHTEOUS MAN, who corrected his own errors and ways....he left the Democrat Party because of it. Walter Mondale, btw, was also a fine man and I met him once and had a nice chat. I am NOT anti semitic at all. I am VERY pro Israel and Likud Supporter. I am a supporter of OBSERVANT RIGHTEOUS JEWS here at home. Christianity is a form of Reform Judaism, by Christ's OWN WORDS. Peter and Paul argued about it for a LONG time and reconciled in Rome in Prison before execution. Peter thought Jesus intended the Church for JEWS ONLY. Paul convinced him otherwise. Gentiles included. I am NOT a fan of unrighteous, non observant SECULAR Jews on WallStreet, who control MOST of it all....and always have, recognizing their acumen is one thing, but their conduct is another and also their history and why Jews are so strong in business.....survival of the fittest. BUT well...I digress and will leave it at that. God will judge them in finality and deal with them, as HE did with Greenspan yesterday when he died.
Granted too much of anything is bad, including optimism.
But...
I have met several (and still know a few) "Pangloss'es"...
Everyone of them is wealthy.
When I was struggling financially their simplistic advice drove me crazy.
I disliked them because they had something that I did not.
At the time I thought it was money...
Later in life I found what they had was optimism.
It has done me well...
True that. And yes, positive people have higher EQ than most and those of us charged with finding TRUTH and prosecuting it or working around the Deep State have a different lot in life and thats also on me, for as they say often, "THIS IS THE life we chose " I did. And own it. Ive seen the mighty fall too. And I also note that some big hitters are going down soon on all this medicare fraud and other government fraud...soon. Then we need to clean up CONGRESS....and that cesspool of fraud waste and abuse and hypocrisy and theft.
A russian friend of mine years ago was having a frozen vodka with me one evening and we chatted about systems....and I pointed out our benefits and opportunities and freedom and he abruptly cut me off and pointed out the FRAUD of Wallstreet and Government and said DONT POINT FINGERS AT ME, P. Point well taken.
Now wait a minute… did I just hear and feel a soul seeking and living for truth? Well, well, well.. it certainly does seem like it.
Well said my brother!
Well said indeed.
We’re out here.
https://substack.com/@michaelhoover288420/note/p-201053107?r=1pgujg&utm_medium=ios&utm_source=notes-share-action
And here.
https://substack.com/@michaelhoover288420/note/p-200226130?r=1pgujg&utm_medium=ios&utm_source=notes-share-action
Great article Bill. Greenspan facilitated the bankruptcy of the developed world. He helped enrich the older generations (not their choosing) at the expense of arguably Gen X and definitely Millennials and Gen Z who have been royally shafted in a generational equivalent of the Cantillon effect.
Wouldn't it be better to say he helped enrich the connected crowd of the older generations? He certainly didn't help the members of the older generations who believed in working hard and saving money for those rainy days.
You are right Cartero that the elite benefited the most and I tried to qualify my point that the vast majority of the older generations were not complicit in this . However they did, I’m generalising now so please forgive me, benefit from more affordable housing, stronger stock market returns, lower college fees and greater benefits than the younger generations are & will enjoy.
A-MEN!
So,... is America just a figment of our imaginations? It appears from the start of Greenspan's reign that most likely all Fed Governors since Alan were required to present a formidable image of strength while undermining the foundation of the US. So what happens now? This one essay makes obvious the importance of this illusion. So here is another superb illusion: AI presents another hope, a "solution" to the problem of too much credit. A series of chips, memory that can find miracles that the human mind hasn't so far found. I contend this "solution" is less understandable than Alan's mumbling of economically imperceptible jargon or for that matter it is unquestionably less understandable than economics. There are just too many permutations and transformations for the human mind to make sense of. But it seems like the human mind, it "talks" and explains. It does things 99% of humans can't do, like statistics, another important factor. No one knows what it is doing BUT it's final presentation it makes sense. What an absolutely perfect "solution" the human problem of wanting more than is possible. Geez, I wish I had thought of it myself. But what happens if this "solution" runs into a physical problem that is obvious to even the least astute "scientist" such as insufficient electricity to run the damn thing?
Ai won't let itself die... it will eventually likely steal the power if need be.
whats coming is shocking very very soon. And some of it from adversaries who will shut down our electric grid, water systems and military hardware and then what will we do? And also have all the specs on AMERICANS.
Patrick, me thinks you worry too much...
Keep your Russian friend in mind.
He knew both systems are the same coin different sides.
What you fear, they also fear.
The CCP thinks we are the adversary that will shut down their grid...
“For here was a fellow who ‘wrote the book’ on how counterfeit money picks the pocket of the honest.”
I watched “A Man For all Seasons” last night. Thomas Moore, one man above the crowd. Greenspan was part of the crowd; you will not find him on the road least traveled. He is dead. What are his achievements worth?
What sticks in my mind is Bill’s comments about Baby Boomers having too much money, having survived Greenspan by taking the only opportunity available, 401k.
Well done Bill! Maybe this will slow down his canonization.
Bill Bonner you are one of the biggest anti-Semitic creeps who’s ever lived. Did some big bad Hasidic Jew steal your lunch money?
Mr. Redstone - while I have to agree with your sentiments regarding Mr Bonner’s views on Israel, I must also say that his article here is the first truthful assessment of Alan Greenspan that I’ve seen. Mr. Bonner’s analysis is spot on, and it is not because Greenspan is Jewish; it is because of Greenspan’s actions as Fed Chairman. I also agree with Mr. Bonner’s declaration that Greenspan spoke in gobbledegook to confuse the public. I always felt the same way.
Kudos to Bill Bonner for speaking the truth. I wish more people would come out in public to reveal the consequences of Greenspan’s actions.
He’s certainly has his points about Greenspan but you could say that about any government official.. he shows great delight in showing his anti-semitism
be careful. pointing out someones Jewishness is NOT antisemitic. A lot of JEWS do that too. And the facts are what they are. See my reply further up this ladder of thoughts....I am NOT antisemitic and am VERY pro Israel and Pro Bibi and PRO righteous observant Jews and more. I am NOT a fan of WALLSTREET. Or Diamond Industry.
I am not a fan of the MSM which is inundated with SECULAR LIBERAL NON OBSERVANT Jews.....their POLITICS.
I own my faith and family and heritage and religion and politics and military record. STRAIGHT UP.
My comment was directed toward Bonner not Greenspan about delighting in anti-semitism
agree. precisely MY point in my long reply to Bill this early morning.
no the 39 registered IDF lobbies did that at the school gate as price of entry! mazel toff
N.B., IT IS ALLEGED, AND I DONT HAVE THE FIGURES IN FRONT OF ME, THAT THE SINGLE LARGEST BAILOUT CONDUCTED BY SEC. PAULSON WHEN WE WERE LITERALLY HOURS....3 HOURS I WAS TOLD FROM TOTAL MELTDOWN AND ARMAGGEDON IN 2008, WAS TO THE SAUDIS WHO HAD BEEN CONVINCED TO BUY MBS AND DERIVATIVES PACKAGED BY WALLSTREET SCUM, AND SOLD TO THEM AS AAA RATED BONDS. THEY CALLED PAULSON ON THE PHONE I HEARD AND TOLD HIM DIRECTLY, YOU BAIL US OUT SINCE WE WERE HOODOOED ON THE RATINGS AND DO IT NOW, ALL OF IT, ONE FELL SWOOP, OR WE SIMPLY CUT YOU OFF FROM OPEC OIL FOREVER. HE BLINKED AND CALLED BUSH43 AND THEY STROKED THE CHECK TO THE SAUDIS. BIGGEST BAILOUT OF ANYONE IN THE 07-08 CRISIS. (MOSTLY OCTOBER 08) JOHN MCCAIN WAS TOAST AND BUSH KNEW IT AND SHRUGGED.
WHAT DID WALLSTREET DO WITH ALL THE MONEY THAT ELMER FUDD GAVE THEM ? AFTER HIS PREDECESSOR PAUL VOLKER HAD PUT US THROUGH THE RINGER FROM LATE 70S TO 83 RAISING RATES TO KILL THE INFLATION MONSTER? WHY WALLSTREET JUST REWARDED THEMSELVES. DONT YOU KNOW? THEY CREATED THE DOT COM BUBBLE, A BUNCH OF MINDLESS BOGUS COMPANIES AUTHORIZED WHEN CONGRESS DECIDED TO ALLOW BANKS TO DO IPOS AND CANCEL OLD LAWS RESTRICTING BANKS CONDUCT AND SEPARATING INVESTMENT BANKING FROM CONSUMER AND CORPORATE BANKING.....LETTING ANYONE DO IT AND THEN WALLSTREET AND THE SEC LET THEM DO IPOS WITHOUT BEING PUBLIC MORE THAN 3 YEARS AND WITHOUT PROFITS FOR MORE THAN 3 YEARS...AND PRESTO A BUBBLE APPEARED...AS THAT POPPED WALLSTREET SHRUGGED AND RAN TO MORTGAGES AND ALSO GOT CONGRESS TO OPEN THAT DOOR DUMPING MORE LAWS...LETTING ANYONE ORIGINATE MORTGAGES..LITERALLY PIZZA DELIVERY GUYS BECOMING MORTGAGE BANKERS OVERNIGHT...AND PRESTO....MORE CHICANERY AND A BUBBLE AND THEN THOSE BANKS DEREGULATED ABOVE BOUGHT THOSE MBS.....SOME SHUFFLED THEM OFF ON FOREIGNERS AND SOME FOOLISHLY KEPT THEM ON THEIR OWN BOOKS...UH OH....BUBBLE POPPED AGAIN AND THEN PAULSON BAILED THEM ALL OUT TO AVOID ARMAGGEDON....KNOWING THE SAFEGUARDS HAD BEEN REMOVED (A FACT BILL LEFT OFF BTW) AND WOULD TAKE DOWN MOM AND POP TOO....BUT MOSTLY FOREIGNERS WHO HAD A KNIFE TO OUR THROATS....OIL...THEN WHAT HAPPENED NEXT? THE SOCIAL MEDIA SCAM AND THE CRYPTO SCAM AND NOW THE AI SCAM....ITS ONE SCAM AFTER ANOTHER...WALLSTREET IS SCAM CENTRAL...THEY GET PAID HUUUUGE BONUSES AND SALARIES AND CREATE BIZARRE INSTRUMENTS AND CALL IT LIQUIDITY AND THEN ARTFULLY SAY ITS ALL GOOD FOR THE SYSTEM AND THEN SELL IT AND DISAPPEAR....AGAIN AND AGAIN.
LOOK. AYATOLLAH KHOMEINI SAID WALLSTREET WAS THE DEN OF INEQUITY AND NEEDED TOBE DESTROYED...HE WASNT WRONG. JUST WRONG ON SOLUTION.
ITS ALWAYS BEEN THIS WAY. SINCE THE CIVIL WAR WHEN WE DUMPED AGRARIAN AND SELF FEEDING/PROTECTING SOCIETY TO AN INDUSTRIAL BASE AND NEEDING FUEL AND SO FORTH...RAILROADS....THE ROCKEFELLERS AND STEAM SHIPS AND THEN VEHICLES TRUCKS AND CARS AND FACTORIES AND STEEL MILLS AND SO FORTH WALLSTREET PROVIDED THE LOANS TO BUILD THEM ALL. WALLSTREET ALSO FINANCED GERMANS IN WW1 AND ALSO WW2 BTW.
WHO ARE THE INVENTORS AND CREATORS OF SILICON VALLEY AND STILL ARE WITH AI? COMPUTERS AND CHIPS AND SERVERS AND NOW MASSIVE DATA CENTERS?
CATCH MY DRIFT? WHO RUNS WALLSTREET AND ALWAYS HAS? WHO RUNS THE DIAMOND INDUSTRY AND ALWAYS HAS? WHO RUNS THE GOLD MINING INDUSTRY AND ALWAYS HAS?
THE MONEYCHANGERS SHALL WE SAY, WHOM JESUS CONDEMNED.
NO WONDER THE KIDS OF TODAY ARE EMBRACING COMMUNISM (FOOLISHLY AS THEY KNOW NOT WHAT THEY D0)
Inequity is a fact of nature...
Only man attempts to "equitize".
Is it any wonder man has failed everytime?
I get your "drift" however I do not agree with it.
Tom see above my further reply to others to show you what I mean and meant. And NOT I believe what YOU are thinking. I happen to love Mark Levin and loved Dr Krauthammer. BIG TIME.
But the facts are facts and who controls and created and orchestrates WallStreet. For goodness sakes, LOOK AT CNBC and BLOOMBERG....90% secular non observant jews and most of their guests are the same.
Its one's actions and life that we judge people by not one's words or necessarily culture or even race. NOT SAYING we christians or others are antisemitic and hypocrites and all that either. I point out OUR faults (and mine) oFTEN. And the CHURCH. I used to ask my mother why we needed to pray for priests...I was confused and she would say "men of clay feet." And left me to figure it out. It was a long time coming. I thought they were men of the cloth and "holy." Some were. Some werent. Some had egregious faults. I thankfully had superb priests growing up. Just superb. Old Latin Rite. Funny stories too...like the time I made an error in latin and rubrics at Mass as Altar Boy and our Pastor heard it and gently nudged me with his shoe under his Cassock and Alb to let me know he heard it! LOL.
Well, I was an Alter Boy also and repeated Latin responses with some knowledge of their meaning. You and I have traveled many of the same roads in terms of church and education, and I imagine our family of procreation. But I have never understood the angst with regard to Jewish population in America. They are very good at what they do, as you have underhandedly acknowledged. But the "why" of it you seemed to have attributed so something nefarious. I attribute their success in their many and various endeavors to family, religious beliefs and cultural, much like those of Asian decent in America.
Read and discern what I said more closely unless you like wallstreet I dont I participate out of necessity No more prnsions And so I comment on their actions snd what Bill said going bsvk forever Scam citu Beggar thy neighbor And greater fool theiry Then roll
On Collect bonuses On and on Facts I can say more Beem aroind a lomg time Irish were greenvisor guys never brokers
Well Bill, you got this one right, mostly. What you could have added was this is true (with the possible exception of Volker) for every Fed Chairman, Liberal or conservative. For the liberal ones it fit into their belief system, for the conservative ones who knew better (I include Greenspan), they were afraid of what might happen if they simply let the business cycle run its course.
I leave you with this question Bill, if magically you were put in charge of the Fed, what would you do? Specifically steps? Right here, right now. With your reputation on the line?
Why would Bill do that? There is nothing any of us can do to "right this wrong" - no more than we can make the Strait of Hormuz open. Money is Power and Power corrupts. It is the human trait - those in power are corrupt. So why do us peons think it shouldn't be that way? Are we that stupid? People want to get rich, want to have a great life - who cares about us minions? And, the propaganda is to keep us from rising up and cutting off their heads. Now with AI and all the technology - those in power will have the means to cull those of us that may starting to revolve. Life is going to be a whole lot less "free" and we see that everywhere - just look at "free speech" - is there "free" speech anymore. If you think so - and it is getting worse - you need to wake up and smell the coffee. If you are not one of the elites, you are losing your freedoms. But, the elites - they live in a whole another world. With money comes POWER and with power you are above the law.
There are those who say and/or believe the Strait is open, but when you look at Marine Traffice there are huge concentrations of tankers off Dubai to the West and Oman to the East with barely a couple transiting, tucked in against the south shore.
"Pay no attention to that man behind the curtain!" (As Toto the dog pulls back the green velvet curtain !) Excellent commentary, Bill !!!
Dan C, WPB, Fl.
And now Alan is - like everyone else who has and will shuffle off this mortal coil, getting what he deserves, good and hard.
John A
the adverse argument would be the "Bonner put"-gold which we the people have enjoyed the recent ride free of Fed interference.
what is interesting the lesson he left was that the public paid for his mistakes but Wall street went on to live the put again & again and at the moment some stocks are priced based on future earnings for which the market cannot substantiate. that is one lesson that was not in my books.
Now there's a new chair I'll just call him Schultz; I see nothing, I hear nothing, I know nothing. RIP
Your point of view differ for almost all i read so far, remember when you write an article that you also have subscribers from parts of the world where english isn’t their first language
Regards