The Abandonment Of The Gold Standard Made It Possible For The Welfare Statists To Use The Banking System As A Means To An Unlimited Expansion Of Credit. 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. Deficit Spending Is Simply A Scheme For The Hidden Confiscation Of Wealth. Gold Stands In The Way Of This Insidious Process. It Stands As A Protector Of Property Rights. If One Grasps This, One Has No Difficulty In Understanding The Statists' Antagonism Toward The Gold Standard.

-Alan Greenspan

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The Abandonment Of The Gold Standard Made

Alan Greenspan

The Abandonment Of The Gold Standard Made It Possible For The Welfare Statists To Use The Banking System As A Means To An Unlimited Expansion Of Credit. 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. Deficit Spending Is Simply A Scheme For The Hidden Confiscation Of Wealth. Gold Stands In The Way Of This Insidious Process. It Stands As A Protector Of Property Rights. If One Grasps This, One Has No Difficulty In Understanding The Statists' Antagonism Toward The Gold Standard.

Topic

Mean

Rights

Understanding

While Local Economies May Experience Significant Price Imbalances, A National Severe Price Distortion Seems Most Unlikely In The United States, Given Its Size And Diversity.

Diversity

Imbalance

Size