Former Federal Reserve Chairman Alan Greenspan was on NBC’s Meet the Press this morning (Sunday, August 7, 2011), and said “The United States can pay any debt it has because we can always print money to do that. There is zero probability of default.”
Ron Paul has continuously warned about this and has a response to this on his campaign website…
“We already know that current Fed Chairman Ben Bernanke agrees with Greenspan that “quantitative easing” is a reasonable fiscal remedy.
History tells us that unsustainable debt is a recipe for financial ruin. Common sense tells us that simply printing money out of thin air is the surest way to wreck an economy.
This nation’s economic “experts” continue to prove they are completely ignorant of the most basic and pertinent monetary lessons—and the greatest danger to the American economy continues to be those who fancy themselves in charge of it.”