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OfflineBleaK
paradox
Registered: 06/24/02
Posts: 1,583
Last seen: 3 years, 7 months
Money monopoly...
    #2786735 - 06/12/04 01:35 AM (13 years, 1 month ago)

does the CEO of the federal reserve get free money?


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"You cannot trust in law, unless you can trust in people. If you can trust in people, you don't need law." -J. Mumma


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OfflineAncalagon
AgnosticLibertarian

Registered: 07/30/02
Posts: 1,364
Last seen: 8 years, 5 months
Re: Money monopoly... [Re: BleaK]
    #2787230 - 06/12/04 09:33 AM (13 years, 1 month ago)

Alan Greenspan wrote this article in 1966. It is beyond me who has threatened him or what has struck him multiple times in the head since then. He happens to be right on the money in this:
http://www.321gold.com/fed/greenspan/1966.html

An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense - perhaps more clearly and subtly than many consistent defenders of laissez-faire - that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.


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?When Alexander the Great visted the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: 'Yes, stand a little less between me and the sun.' It is what every citizen is entitled to ask of his government.?
-Henry Hazlitt in 'Economics in One Lesson'


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OfflineBleaK
paradox
Registered: 06/24/02
Posts: 1,583
Last seen: 3 years, 7 months
Re: Money monopoly... [Re: Ancalagon]
    #2787935 - 06/12/04 04:14 PM (13 years, 1 month ago)

this was my favorite part....

"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."


--------------------
"You cannot trust in law, unless you can trust in people. If you can trust in people, you don't need law." -J. Mumma


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General Interest >> Political Discussion

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