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