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Thanks for the link tadair, after reading it it sort of confirms how I have felt about Greenspan, he understood the road that we were on with regards to the printing of money without any tangible asset to back it up. I usually made a point to listen to him when he spoke as the Chairman of the Federal Reserve and he was always warning about the bubbles that were being formed by creating excess money . It was interesting to read in the article about the idea that if one goes away from the gold standard then we would be free of economic slowdowns, so much for that idea.
The comments on the idea of welfare state is something that I have been thinking of lately, as more and more of the peoples money ends up in fewer hands it stands to reason that the governments will be called on to take up the slack, and this ends in a more socialist country, Every dollar that is printed by the federal reserve ends up costing someone interest and this drain has now reached the point that economies are collapsing because of it, I am sort of a liberal person but the creation of the federal reserve way back in 1913 seems like a socialist idea to me, it put the taxpayer on the hook for keeping the economy going and alll the while puttting a vast amount of money in to few hands .

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