Thursday, October 2, 2014

Is it Alan Greenspan or Alan Goldspan?

By Chris Rossini

One day he's the king of debasing green pieces of paper, and the next he's talking about gold.

Peter Klein catches Alan Greenspan Goldspan uttering some truths:
The broader issue — a return to the gold standard in any form — is nowhere on anybody’s horizon. It has few supporters in today’s virtually universal embrace of fiat currencies and floating exchange rates. Yet gold has special properties that no other currency, with the possible exception of silver, can claim. For more than two millennia, gold has had virtually unquestioned acceptance as payment. It has never required the credit guarantee of a third party. No questions are raised when gold or direct claims to gold are offered in payment of an obligation...
Two quotes immediately popped into my mind when reading the first two sentences:

“The golden age only comes to men when they have forgotten gold.” - G.K. Chesterton


“I had conversations with all the powerful people of the world: with presidents, with prime ministers, chancellors and kings, too. None of them believed that there was any chance of us toppling communism before the year 2000. I didn’t meet a single person among those people who would believe that was possible. Not a single one in the whole world.” - Lech Walesa

The fact that "universal embrace" of a completely unsustainable lie has arrived, bodes well for the truth.

Get ahead of the curve.

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