"In the absence of the gold standard, there is no way to protectsavings from confiscation through inflation. ... This is the shabbysecret of the welfare statists' tirades against gold. Deficit spendingis simply a scheme for the confiscation of wealth. Gold stands in theway of this insidious process. It stands as a protector of propertyrights. If one grasps this, one has no difficulty in understanding thestatists' antagonism toward the gold standard."
Quote by: Alan Greenspan(1926- ) Chairman of the Federal Reserve Board of Governors (1987-2006)
Source: from page 101 of the book "Capitalism, the Unknown Ideal" by Ayn Rand with additional articles by Alan Greenspan - 1966
*********** Liberty Notes******
If Greenspan was channeling Ayn Rand and he espoused this thought process, why did he not act upon this as Chairman of the Federal Reserve. He had years to fix it and did nothing.
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