Greenspan: Gold is a Currency, Euro “Breaking Down”

[Plastic]

I remember someone posting an old essay from the 60's by Greenspan where he says gold is the only thing that can prevent savings from being stolen by inflation which he turned away from after becoming the fed chairman.

Well get a load of this, personally I am shocked.

“Gold, unlike all other commodities, is a currency,” he told attendees at a conference in Washington D.C. on August 23, saying he did not think the precious metal was in a bubble despite recently reaching a new record above $1900. And a flight to safety amid inflation fears is what’s causing soaring gold prices.

Much more at link.

http://thenewamerican.com/economy/markets-mainmenu-45/8742-greenspan-gold-is-a-currency-euro-breaking-down

Hope this was'nt already posted.

[sirgonzo420]

Greenspan was a goldbug who turned to the dark side.

He's still on the dark side, but he knows the goldbugs' arguments are correct.

He's just your average, run-of-the-mill sellout.

[mamboni]

I remember someone posting an old essay from the 60's by Greenspan where he says gold is the only thing that can prevent savings from being stolen by inflation which he turned away from after becoming the fed chairman.

Well get a load of this, personally I am shocked.

“Gold, unlike all other commodities, is a currency,” he told attendees at a conference in Washington D.C. on August 23, saying he did not think the precious metal was in a bubble despite recently reaching a new record above $1900. And a flight to safety amid inflation fears is what’s causing soaring gold prices.

Much more at link.

http://thenewamerican.com/economy/markets-mainmenu-45/8742-greenspan-gold-is-a-currency-euro-breaking-down

Hope this was'nt already posted.

Some people believe that Reagan installed Greenspan as FED Chairman to furtively torpedo the fiat money system. They believe that Greenspan never abandoned gold; he pretended to champion the dollar over gold while his low-interest rate policies and easy credit will ultimately lead to the implosion of the dollar. Rumor has it that Greenspan demanded physical gold in payment for speaking engagements after leaving the FED.

[Ash_Williams]

Sometimes you get hired to work within a paradigm. It's no different than being an athlete and being restricted by the rules of the sport - play by the rules or get the boot. You do the best you can. Greenspan did his job which was to keep the "American way" of life going on for as long as he could, just like Bernake will. I have no doubt Greenspan knew the probable consequences. He's not stupid, he's never pretended that the way he did things was the right way. He's even said the Fed doesn't need to exist.