“Gold still represents the ultimate form of payment in the world . . . Germany in 1944 could buy materials during the war only with gold. Fiat money paper in extremis is accepted by nobody. Gold is always accepted.” - then-Fed Chairman Alan Greenspan, May 20, 1999.
He was responding to then-UK Finance Minister Gordon Brown's decision to sell the Bank of England's gold reserves when gold was priced near its lows, now referred to as "Brown's bottom."
Monday, October 10, 2011
Subscribe to:
Post Comments (Atom)
Posts
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uSzapzVb-1ej3EhV5xHOo639J2lvYk3C4m6c4d6-T92WRpb_5AvW8rD0I14tYUFq5WEZ004_9fcojzIsSkhwBcROR1Z-gAjAsxy6jeuIX1Oj1C_tldMSpzpQaGHLB95NRzuw=s0-d)
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uuoQs1qjEIXHkgO-5rL0Ls0ykJs-bH-LotxdnmSGTsLVC5Lnf2AuuI-me5ns1Vjiz_CQ__Yk_JhmxiczWEkGzEqFo2znz0VCI-c3LUm7N-RGgm28Ec1yr8t_my7QpENqAHK2IL=s0-d)
![[Most Recent USD from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vsHuAi-R5QBO7XjSCSjIEdAWFV2JLLyvovQQR6moZEKe_xFife4GUrZ7Ml_GOESC6R6udo5YR6yo-oW1Gcx4b_IjVsU-7ZEZag3ecA8FOy5KDA9wVLPdoV=s0-d)
No comments:
Post a Comment