Thursday, April 15, 2010

Who is really bailing out Greece?

Ron Paul asked Ben Bernake this question in the following video clip.  I worry that no one in a position of responsibility is willing to take responsibility for the consequences of any decision.  I'd like to make my own fiat money. 
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2 comments:

  1. Noah OesterleApril 15, 2010 at 6:29 PM

    Bernanke did not seem all that confident in that clip. Ron Paul makes an excellent point about monetizing debt. A couple of weeks ago in class I remember asking about how hyperinflation occurs today and someone responded that it happens gradually. You do not seem it coming. This is starting to look like a slippery slope. A large devaluation of the Dollar could be disastrous. The U. S. is the largest contributor to the IMF. How long can we actually afford to stay that heavily involved?

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  2. KelseyApril 15, 2010 at 8:51 PM

    I feel like the US would have to stand behind the IMF if they bail out Greece because we kind of set the standard of bailouts in my mind. We don't have the money to do it but we will continue to go into debt because like we discussed in class, it doesn't mean anything. Also I don't think the dollar will devaluize because so many countries would be hurt - the same reason China will never call in our debt.

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