Tuesday, March 3, 2009

Ironic quote of the day

"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. This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process."

-- Alan Greenspan in 1966

1 comment:

Philip said...

What an amazing quote. How did he turn into such an idiot later in life?

Somebody the other day said that Obama is about to pull off the biggest transfer of wealth in the history of the world without the use of force.