In the absence of the gold standard there is no way to protect the savings from the confiscation through inflation. There is no safe store of value without gold. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process that stands as a protector of property rights.Alan Greenspan, as quoted by Ron Paul in the Financial Services Committee Congressional Record on July 17, 2002 from Greenspan's Gold and Economic Freedom
Friday, May 8, 2009
Quote - Alan Greenspan
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3 comments:
"Welfare statists"? Doesn't he mean capitalist welfarists and big capitalists? Oh yeah, he was drinking the stupid from Ayn Rand.
Yes, his comment would include that which he became in the future.
Ron Paul was using the quote to lecture Greenspan during a hearing.
Ron Paul drinks the stupid from Ayn Rand too..
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