Thursday, December 5, 2013

Greenspan, YOU are a DOUCHE!

Regarding BTC, Alan Greenspan recently said that "“It’s a bubble,” Greenspan, 87, said today in a Bloomberg Television interview from Washington. “It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”

Now that is a peculiar stance is it not? Why do I say? Well, it was back in 2010 that Greenspan said that economists can’t see bubbles until they burst. Oh really? So now the dementia ridden Greenspan can see clearly whereas when he was a much younger and capable(?) man he could not.

He also went on to say the following: "Because unless we come to grips with the fundamental issue, which is the fact that we have promised in the ways of benefits for Medicare and social security, physically more than we have the assets to deliver with. The economy can only grow so far. Right now, the claims on the real economy – forget finance –are getting larger and larger. Social security, I might add, is money. You can always print money." 

So what exactly is it about social security money that has value? More like a Ponzi scheme isn't it? And people have the audacity to say BTC is a Ponzi? Please.

Doesn't that make you feel comfortable? A future obligation that cannot be paid, as he clearly states, is money. What is money? DEBT!! But we don't have the assets to Which is SS? WTF is he talking about?

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