Alan Greenspan has taken cover behind the Iraq War being first and foremost about oil. He has taken cover behind pointing at George W. Bush for reckless deficit spending. At the same time, he's been claiming that had the U.S. not gone into Iraq and overthrown Saddam Hussein, oil prices would be much higher right now than they are ($130 per barrel or even more compared with the current $80). It's a sideways justification for the war. The masses wouldn't have understood the Machiavellian decision that had to be taken to capture the prize for the sake of the living standard of the upper-middle class in America (more SUV's than drivers in the house and all the rest of the excess).
He is claiming that he was unaware until late 2005 of the effects that extremely low interest rates and shady lending practices would have in the longer term. Well, he was aware long before the whole subprime business started. He knows all about the boom-and-bust business cycle and how to make it happen with interest rates, as the insiders want so they won't be speculating but will rather always be out front of those who are unaware as outsiders. They use the cycle. They cause the cycle. They want a boom, so they ease credit. They then want to sweep up the money from the lower classes, so they cause a bust or (pop the bubble as it were). They are always aware ahead of the mass market. They are always positioned to buy low and sell high. If not, they are sure to have the government do a bailout with tax dollars from the lower and middle classes. That's part of the overall strategy. They just cut social-services and infrastructure spending even more and open those areas up to privatization. Remember, Greenspan is a laissez faire capitalist. He's a state libertarian, as Milton Friedman was a state libertarian. The only thing their state is for is to enforce with deadly violence this system of, by, and for the rich.
Those inside the Federal Reserve and their closest network of top private bankers know what is going to happen before the decisions are made public. They plan it. They position themselves using their private computer models to predict market reactions that are simultaneously manipulated through corporate media, marketing, advertising, public relations, propaganda, and the like, for effect.
The question isn't whether or not this goes on. Only the fine details are hidden from even the discerning but relatively irregular or infrequent observer. Think about what God and the watchers know.
They see how the banking houses/families in Europe hated the American scrip that they, those bankers, weren't able to control. The American colonies were able to grow without those bankers getting their first cut. Ever since that time, the process has been steadily unfolded where those families would take back control of the world's economy. They systematically ruined the American system that had come into being as a direct result of people escaping the old world to the new. Those families sent their agents here to infiltrate and change the direction of the American system. They ploughed money into the takeover, creating their central private bank (Federal Reserve) and creating the Federal Income Tax. They looted the gold of America, and now they are in the process of globalization or corporatization of the world. Remember, they own the most controlling corporations: The Central Banks. They privately control the currencies of the world. The U.S. dollar doesn't belong to the American people. The U.S. dollar belongs to the shareholders behind the Federal Reserve. Those shareholders are international financiers.
That's not racist, coded terminology for "Jews" by the way. Many Jews are adamantly opposed to the system of the world bankers. It is a fact though that the antichrist mentality is incarnate in these world bankers. If you're against their system, you may be for Jesus. If you're for that system though, you definitely aren't for Jesus. The Talmudists definitely aren't for Jesus, though some may be opposed to usury and for the right reason.
Don't let the Jewish Anti-Defamation League obfuscate behind sweeping pronouncements painting anti-banking as anti-Jacob and his blood descendants. It's a deception to change the subjects at hand, which are blood-sucking usury and private currency and the rest and regardless of who's behind it. It's inherently evil no matter what house is doing it, Jewish or otherwise.
Now therefore, the answer certainly isn't in higher interest rates or lower interest rates. The answer doesn't lie in lending or borrowing at any interest rate. Think about it. If there were no banks or lenders at interest, if there were no dollars required to eat and live under a roof, etc., and if all people had to do is be unselfish out of love for each other and the whole, all serving each and all, then all these manufactured economic crises and shocks would eventually vanish. That's the vision of the New Earth and New Heaven in the Gospel message.
The current move by the Fed cutting the discount rate 50 basis points is calculated to avert the call for dismantling the Federal Reserve System. It is for a wobbly so-called soft landing (really just more of the ruse; postponing and distracting) with the aim still being to move the center of world economic power out of the U.S. and into the hands of corporate globalizers less and less beholden to legislative oversight and more and more as described by David Rockefeller, the unaccountable rulers of the world. After all, there are still Americans who have the rebellious streak in them.
Remember, America was founded on rebellion and revolution, albeit not truly a populist revolution but rather for the sake of the budding American aristocracy.
The only way out is out. The only way is to plough earnings and savings into a debt-free Commons in which currency is not required to live, work, or make and grow things for each other, etc. That's the plan of the Real Liberal Christian Church. That's the Church's Christian Commons Project. Picture it. The people, members, would control under the conscience of righteousness who is God. It's what Jesus wants to see.
(See also: Aotearoa: a wider perspective)