Alan Greenspan Admits To Big Ponzi Scheme

I remember watching Alan Greenspan testify to the Senate Banking Committee in 2005 and my mouth hit the floor when I heard it. I have been looking of this clip for years, and could never find it. A friend finally sent it to me and I posted it to my YouTube channel and below in this article. I was just starting my Awakening process in 2005 and this was one of those thunderbolts that really sped up my awareness.

Senator Reed asked the sitting Federal Reserve Chairman Alan Greenspan if he still believed that we should maintain the fundamental principles of Social Security?

“I believe that we should maintain the principles of Social Security, but I think the existing structure is not working. Until we construct a system that creates the savings that are required to build the REAL assets, so that the retirees have REAL goods and services. We don’t have a system that is working. We have one that basically moves cash around and we can guarantee cash benefits as far out and whatever size you like, but we cannot guarantee their purchasing power. Do we have the material goods and services that people will need to consume, not whether or not we pass some hurdle with respect to how legal financing occurs. Financing is a secondary issue and it is a means to create the REAL wealth, not an end into itself.” -Alan Greenspan 2005

This is as close as you are ever going to get a banker telling you the truth. In this brief clip Sir Alan Greenspan admits that we have a Ponzi Financial system that does not create REAL wealth. “We have one that basically moves cash around .” If the Social Security is fundamentally flawed, the entire US Economy is fundamentally flawed. This financing mechanism the Fed provides creates NO REAL WEALTH, it merely creates cash out of thin air. Social Security then takes that cash and sets up a generational Ponzi Scheme to take from those that are working, to those that are not. Please don’t tell me that you paid in and that you are just taking out. The money that you put in years ago, got paid out almost immediately to those that were taking from the system back then. Those of you that are collecting money, are directly from workers who are working right now. What is worse, now we are paying people now on money we have not even collected yet. With 80 million baby boomers coming to take from from the Ponzi scheme this will end as badly as it did for Bernie Madoff’s victims. (Read:The Shock of a New Paradigm.)

“The whole government is a Ponzi scheme.” Bernie Madoff

  • There is not lock box.
  • There are no savings.
  • There are no REAL assets.
  • There is only a filing cabinet full of IOU’s

Here is a picture of your Social Security Savings. I am not kidding, that is it. Isn’t it crazy to think that this filing cabinet has trillions of dollars of IOUs? Isn’t crazy that we have been duped into thinking this was going to end okay? Isn’t it crazy that a woman that wears white panty hose is protecting our Social Security? I would want a vault with some guys with guns at the very least, but hey there is nothing really there, so why bother…

The most telling part of Greenspan’s testimony was when he admits that the Fed, can guarantee cash benefits as far out and whatever size you like, but we cannot guarantee their purchasing power.” This means that hyperinflation is the end game. We have billion dollar trade deficits. We have trillion dollar budget deficits. We have $4 trillion that needs to be financed in the next two years with NO buyers. We have $140 trillion dollars of unfunded liabilities that are coming due. We also have the world’s reserve currency. Greenspan says, “sure promise whatever you like and my owners of the Privately and Foreign held Federal Reserve will make the money.” He does admit that he cannot guarantee that those trillions of dollars will buy any REAL goods or services.

Get your money out of all paper assets and into REAL goods before they make good on their promise to flood the world with worthless money. How many more times do you have to hear stuff like this to make your move?

“The last duty of a central banker is to tell the public the truth.” Alan Blinder, Vice Chairman of the Federal Reserve

18 comments to Alan Greenspan Admits To Big Ponzi Scheme

  • Jon

    There is no superman coming to save us. Why must Americans wait till the last moment to “Wake the Fuck Up!”

  • doug

    hehehe…”Isn’t it crazy that a women that is wearing white panty hose is protecting our social security?”Man you write some funny shit…yes it won’t end well when the baby boomers pull start pulling out their 401k out of a already propped up market,whether they buy silver or not.The end is closer than we think…as long as they give us hockey and football to watch,i guess.cheers

  • tim ryan

    gd!
    economists reprt u . s. pub pv debts to cover boomers $199t, two hundred
    trillion, gdp$14/t/y, of 13x gdp

  • Stephen Burgoyne Coulson

    It shouldn’t surprise anyone that social security would consist of just a few IOUs. Take a look at your bank account some time. It’s just a bunch of numbers in a computer somewhere. That’s an IOU that the bank owes to you. You can turn those IOUs into bank notes, but the bank notes are still just IOUs, but now you can use them to get what’s owed to you.

    All the food that’s going to be eaten by all those old retirees hasn’t been grown yet and all the nursing services they’ll need haven’t been performed for them yet and those are the real things they’ll be needing and you can’t put those things in a bank vault and keep them for decades.

    Dollars, cash, are just a way of keeping score. They don’t, of themselves, make wealth. They just allocate it. But when those old people eat the cash goes to the stores and farmers, when they get their diapers changed the cash goes to the carers. All of those people can now spend the money on whatever it is they want or need – but grandpa gets looked after.

    All the same real world resources would still have to be allocated to caring for grandpa if we chose to do it another way. The only way to save the real resources that would be used to care for grandpa would be if we all just decided that grandpa needs to be put down.

    The issue is not that social security is a bunch of IOUs, it’s that ALL PAPER is.

  • Dale M

    Americans have been in an entertainment induced stupor for much too long. The MSM is a propoganda tool for the powers that be and hasn’t done due diligence informing the public of the impending financial crisis. The MSM must think average Americans are too stupid to understand the truth and when you add liberal bias, you get a dumbed down population incapable of critical thinking. This must be what the elite want. Deceive the sheeple and they won’t know what’s happening until it’s too late.

  • Doug

    Dale,

    The MSM is right. The average American IS too stupid, so the MSM uses that to its advantage and feeds them BS socialist propaganda. Dumbed down sheeple drink the kool aid, and vote in their socialist leader believing the BS rhetoric that has no bearing on reality. Keynesian economics is a dismal failure!

  • TexasPatriot

    Researching, watching, trying to work my public servants but they ain’t listening, am aware and busy preparing going on 3 years now.
    The Missus and I ain’t got time fer games.
    We will celebrate when we win our freedoms back from the tyrants.
    Hey! Anyone here in the West Texas Permian Basin Area?

  • byron

    We can stop this ‘grip on our testes and oviducts’ only by educating as many as possible and have ‘them’ do the same! WE THE PEOPLE better get w/it NOW!

  • Lord Vader

    I’ve got bullets, I’ve got shotguns, who could ask for anything more.

  • twisted titan

    people are going to learn a horrible lesson when’s the chickens come home to roost…….. thank god I will not be 1 of them

  • panji

    unfortunately, this video is no longer available :(

  • hi!,I love your writing so much! proportion we communicate extra approximately your article on AOL? I need a specialist in this house to resolve my problem. Maybe that is you! Looking ahead to see you.

  • […] a Comment By Silver Shield, on May 23rd, 2011Dont-Tread-On-Me.comI remember watching Alan Greenspan testify to the Senate Banking Committee in 2005 and my mouth hit […]

  • […] a Comment Tweet Dont-tread-on.me By Silver Shield May 23rd, […]

  • […] http://dont-tread-on.me/alan-greenspan-admits-to-big-ponzi-scheme/ This entry was posted on Wednesday, May 25th, 2011 at 12:37 am and is filed under Crooked Politicians. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. […]

Support our fight with a one time donation.

colloidal-silver-hydrosol-banner-175x263

Over 300+ Videos