Book Review
by Antal Fekete
June 22, 2001

A Blurb For a New Book
What Does Mr. Greenspan Really Think?
by Larry Parks*

* The Book itself is published by FAME (Foundation for the Advancement of Monetary Education)

Box 625, FDR Sta.,
NY NY 10150-0625
Email: lparks@fame.org

Larry Parks is the shadow public prosecutor who has succeeded in putting Alan Greenspan on the witness stand. The charge is that his Federal Reserve System is not now, nor has it ever been, run in the interest of labor, seniors, or other citizens and taxpayers. On the contrary, it has been run in order to plunder them as a result of a conspiracy involving Big Banks and Big Government.

This unholy alliance has been milking labor and seniors (not to mention widows and orphans) out of their substance for over four scores of years, and their blatant pilfering from savers and taxpayers has pushed our entire economy to the abyss or, in the scholarly words of the witness, "has exposed the global financial environment to the dangers of a systemic breakdown".

The most amazing thing in all this is the cooperating stance of Dr. Parks' witness. For example, Mr. Greenspan freely admits that "the central bank [has been given] unlimited power to create money..." (p 38). This is tantamount to admitting that, in the United States, the Federal Reserve banks are unconstitutional. That country happens to have a Constitution stating in no uncertain terms that it is the charter of a government of limited and enumerated powers. Not only is the (delegation of) power to create unlimited amounts of money not enumerated, but the Constitution explicitly bars the government from letting its bills of credit be organized into currency. Dr. Parks is wondering about the cooperating tone of his witness, too, as the title of his book suggests.

While Mr. Greenspan is not testifying under oath, his incentive to speak the truth may be motivated by more powerful considerations.

It is the desire to establish a solid public record of eloquent admonitions, in order to cover up his being an accomplice in bringing about a systemic breakdown which, as he might well judge, is by now inevitable. Be that as it may, it would appear incumbent on the suave Mr. Greenspan to initiate a constitutional debate on the monetary provisions of the U.S. Constitution which neither he nor his predecessors have ever mustered the decency or the moral courage to recommend for repealing.

If he fails to do that, the conclusion remains inescapable that he would rather live with the stigma of violating the Constitution every time he puts his signature on an official paper, just because labor and seniors appear to be too dumb to understand what's going on. In the meantime, as every discriminating reader of this book will agree, when the time comes to put Mr. Greenspan and his accomplices squarely in the dock, the best candidate to act as the real prosecutor should be none other than Dr. Parks.

Antal E. Fekete
Professor Emeritus
Memorial University of Newfoundland

Antal Fekete is Professor Emeritus, Memorial University of Newfoundland, formerly advisor to Congressman W. E. Dannemeyer of California on the gold standard bills he introduced to Congress, 1984-1990