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

Gold standard - Wikipedia, the free encyclopedia

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Cite Arrow reblogged from hilker
4 notes | | Nov 25, 2008
  1. jmdj reblogged this from mikehudack and added:
    Honestly, I’ve been saying this for more than a year (but in much more than a single sentence) It’s a shame...
  2. mikehudack reblogged this from hilker
  3. hilker reblogged this from codery
  4. codery posted this