Alan Greenspan in 1966 about gold

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Bjorn
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Joined: Sun Nov 16, 2014 7:36 pm

Alan Greenspan in 1966 about gold

Post by Bjorn » Tue Nov 18, 2014 10:24 pm

From “Gold and economic freedom” (“Ayn Rand Letter”) written by Alan Greenspan:

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. . . .

The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth."

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