A Quote by 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.

Alan Greenspan

Quote Topics

Abandonment Absence Antagonism Banking Banking System Credit Deficit Deficit Spending Difficulty Expansion Gold Gold Standard Hidden Inflation Insidious Made Made It Means Possible Process Property Property Rights Protect Protector Rights Safe Savings Scheme Simply Spending Standard Stands Store System Through Toward Understanding Unlimited Use Value Way Wealth Welfare

Quote Author

Alan Greenspan
American - Economist
Born: March 6, 1926

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.

Alan Greenspan

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.

Alan Greenspan

An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.

Alan Greenspan

My treasure chest is filled with gold. Gold . . . gold . . . gold . . . Vagabond's gold and drifter's gold . . . Worthless, priceless, dreamer's gold . . . Gold of the sunset . . . gold of the dawn . . .Gold of the showertrees on my lawn . . . Poet's gold and artist's gold . . . Gold that can not be bought or sold - Gold.

Don Blanding

You could own coins but you couldn't have bars of gold. We were on the gold standard. I think it was Nixon who took us off the gold standard.

Carl Andre

A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.

James Rickards

The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.

Ludwig von Mises

The problem right now is that central banks have not normalized their balance sheet since 2009. They're trying, but it's not even close. If we had another crisis tomorrow, and you had to do QE4 and QE5, how could you do that when you're already at $4 trillion? They might have to turn to the IMF or SDR or to Gold. Then, if you go back to the gold standard, you have to get the price right. People say there's not enough gold to support a gold standard. That's nonsense. There's always enough gold, it's just a question of price.

James Rickards

Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government.

Ludwig von Mises

The gold standard makes the money's purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.

Ludwig von Mises

Monetary reform, if it is to be genuine and successful, must sever money and banking from politics. That's why a modern gold standard must have: no central bank; no fixed rations between gold and silver; no bail-outs; no suspension of gold payments or other bank frauds; no monetization of debt; and no inflation of the money supply, all of which have proved so disastrous in the past.

Lawrence Reed

The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.

Henry Cabot Lodge

The superiority of the gold standard consists in the fact that the value of gold develops independent of political actions.

Ludwig von Mises

Violence is the gold standard, the reserve that guarantees order. In actuality, it is better than a gold standard, because violence has universal value. Violence transcends the quirks of philosophy, religion, technology, and culture. () It's time to quit worrying and learn to love the battle axe. History teaches us that if we don't, someone else will.

Jack Donovan

There's the gold standard, and then there's the purple-and-gold standard.

Jeanie Buss

I honestly believe that this is one of the greatest secrets to true peace of mind -- a decent sense of values. We could annihilate 50 percent of all our worries at once if we would develop a sort of private gold standard -- a gold standard of what things are worth to us in terms of our lives.

Dale Carnegie

A Quote by Alan Greenspan

Quote Topics

Quote Author

Related Quotes

Related Authors