QUOTE OF THE DAY

2 comments

Posted on 18th May 2014 by Administrator in Economy |Politics |Social Issues

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“Under the gold standard, a free banking system stands as the protector of an economy’s stability and balanced growth… 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”

Alan Greenspan – 1966

2 Comments
  1. Hollow man says:

    Oh my gosh, you mean he knew what he was doing? Lol. At least he had a life full of money and things. Down deep Americans know something is wrong, if not what it is. So they live with reckless abandon to get what they can while they can. Just like the leadership. FUBAR

    18th May 2014 at 8:13 am

  2. Rick Caird says:

    When Greenspan got paid to change his mind, he changed his mind.

    18th May 2014 at 11:56 am

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