by Bill Holter, Miles Franklin:
In part one, I recounted Alan Greenspan’s one on one interview with Gary Alexander. Later in the day Saturday, Alan Greenspan was part of a round table with Porter Stansberry and Dr. Marc Faber, moderated by Mr. Alexander. While both Stansberry and Faber had a couple of good “zingers” for Mr. Greenspan early on and they both had good points and additions to the discussion, I want to concentrate on what Alan Greenspan had to say. Before getting to part 2, I do want to make one correction to yesterday’s piece. I heard Mr. Greenspan’s reply to the question “where will interest rates and gold be five years from now?” as “higher…considerably.” I have been corrected several times, his exact word was “measurably,” I apologize for the misquote.
If you remember, in part one Alan Greenspan told several white lies. One regarding the leasing of gold by central banks, the Fed never speaks with the Treasury regarding debt/deficit levels, while another was diverting the blame for the housing crisis to Fannie and Freddie amongst other factors…but not the Fed. The key from GATA and the gold community’s point of view was Greenspan’s denial of gold leasing and the question “do you recall testifying before Congress where you stated central banks stand ready to lease gold in increasing quantities should the price of gold rise?”
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