“who smelled trouble two years ago”
Only a complete fool would not have smelled trouble two years ago. The question is what did they do about it?
Will Greenspan suddely rediscover that gold is money and money is gold? And fiat money is, well, not even paper today, for electronic money does not even have the value of a sheet of paper. Will he resume writing along the lines of his essay, Gold and Economic Freedom, in which he ends two paragraphs that say why fiat money is the enemy of liberty:
>>
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. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
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. 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.
<<
from:
Gold and Economic Freedom
by Alan Greenspan
www.usagold.com/gildedopinion/greenspan.html
Sheesh, all we had to do was look around our neighborhoods.
So the guy hired the man some hold responsible for the policies that made him billions. How convenient.
workers and savers and small investors are the real losers in this economy....
I guess we'll just have to sue people to get any money in this country..or sell drugs...
Everyone in the business minted money.
But, of course, every cause needs a poster boy.
*BUMP* !