FakeBen says: "Obviously, Greenspan has not read much von Mises. There is a clear link between lower interest rates, the growth in the monetary base, and the growth in total credit in the U.S. He is either not looking at the numbers or he is playing games."

Alan Greenspan has hit back at critics who blame the Federal Reserve under his leadership for causing the US housing bubble by keeping interest rates too low for too long in the early 2000s, saying the evidence of any link between monetary policy and the bubble was "statistically very fragile"...

The former Fed chairman says the most likely cause of this global house price boom was a "dramatic fall in real long term interest rates" around the world, which he believes was caused by abundant global savings.

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