The quote by Alan Greenspan on printing money was never ridiculed by the mainstream media, but now Trump says the same thing.
In August of 2011, on Meet the Press, the public got to hear former Federal Reserve Chairman Alan Greenspan on printing money.
Today, my social media feed is lit up with descriptions of what an idiot Donald Trump is and how dangerous he is to the American economy. Why? Because he agreed with Alan Greenspan!
According to CNN,
Donald Trump declared Monday the U.S. never has to default on debt “because you print the money,” while trying to clarify his strategy for managing the national debt.
Trump insisted that he never said the U.S. should default or attempt to renegotiate with creditors, as had been reported.
“People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government,” Trump told CNN’s Chris Cuomo on “New Day.” “First of all, you never have to default because you print the money, I hate to tell you, OK?”
When Alan Greenspan said it, his statement was called “really interesting stuff” at Business Insider, and treated as the key fact to attaining a better understanding of economics. Yet when Trump says the same thing, it is treated as ridiculous.
It is no surprise that Donald Trump is not an opponent of fiat money, but he’s the first Republican candidate in modern times to be criticized for it. This isn’t about intellectual analysis; it is about Trump not counting as part of the establishment so that economic fallacies that are whitewashed by the media for others are used against Trump when they are uttered by him.
No one ridicules Greenspan in the mainstream media. They treat him as an authority. Likewise, when the “experts” lashed out at Trump for saying he would pay off the debt at a discount, they never uttered a word of criticism for the Presidents and others who had borrowed all the money.
Whether or not Trump wins he will have exposed the establishment for the pretentious pseudo-intellectuals that they are