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Greenspan: US Will Never Default Because We Can Just Print Money

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By Doug Powers  •  August 8, 2011 03:10 PM

**Written by Doug Powers

Try the “I printed the money” approach in any high school accounting class to explain how you fixed ugly discrepancies on your balance sheet and you’ll fail the course. Do the same thing as a former Fed Chairman you’re an economic guru.

Real Clear Politics:

David Gregory, moderator of “Meet The Press” on NBC: “Are U.S. treasury bonds still safe to invest in?”

Alan Greenspan, Former Chairman of the Federal Reserve: “Very much so. This is not an issue of credit rating, the United States can pay any debt it has because we can always print money to do that. So, there is zero probability of default.”

It’s amazing America is solvent at all.

Click the pic to roll tape:

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*****

Warren Buffet agrees.

“You mean the Warren Buffet who just got downgraded too?”

Yeah, that one.

**Written by Doug Powers

Twitter @ThePowersThatBe

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