Alan Greenspan-isms

These quotes by former Fed Chairman Greenspan have been mentioned on this blog before, but since they are so relevant, I felt compelled to include them again:

Rising prices of precious metals and other commodities are an indication of a very early stage of an endeavor to move away from paper currencies...What is fascinating is the extent to which gold still holds reign over the financial system as the ultimate source of payment.

-Alan Greenspan, 9 Sep 2009

The other quote:

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.

From "Gold and Economic Freedom" a 1966 Essay by Alan Greenspan