Alan Greenspan Admits Ron Paul Was Right About Gold

https://mises.org/blog/alan-greenspan-admits-ron-paul-was-right-about-gold

Alan Greenspan in Testimony with Ron Paul about Gold

Ron Paul: Gold essentially has been demonetized and it’s proceeding—even the Swiss now are talking about selling half of their gold. And if this is the case, would you advise that we should seriously think now about getting rid of our gold, getting rid of it out of the IMF, get rid of it out of our Treasury?  Why hold it if we demonetized it? Milton Friedman would agree with this, and he’s pretty good at monetary policy.

Alan Greenspan: I agree with virtually everything Milton Friedman usually says. This is one of the few times I don’t.

Ron Paul:Why do we need it?

Alan Greenspan: Well, it’s a very interesting issue. This issue, incidentally, was debated in the United States in 1976, and the conclusion was that we should hold our gold. And the reason is that gold still represents the ultimate form of payment in the world. It’s interesting that Germany in 1944 could buy materials during the war only with gold. Fiat money paper in extremis is accepted by nobody, and gold is always accepted and is the ultimate means of payment and is perceived to be an element of stability in the currency and in the ultimate value of the currency.
And that historically has always been the reason why governments hold gold.

Alan Greenspan: Ron Paul Was Right About The Gold Standard

http://www.zerohedge.com/news/2017-02-20/alan-greenspan-ron-paul-was-right-about-gold-standard

The Three Lives Of Alan Greenspan – And Why The Third Won’t Redeem The Second

http://dollarcollapse.com/monetary-policy-2/three-seasons-greenspan-cant-save-rep/

Gold Standard Needed Now More Than Ever? - Alan Greenspan Comments

http://www.kitco.com/news/2017-02-17/Gold-Standard-Needed-Now-More-Than-Ever-Alan-Greenspan-Comments.html

Alan Greenspan: "We're Running To A State Of Disaster"

http://www.zerohedge.com/news/2016-05-31/alan-greenspan-were-running-state-disaster

Insider Alan Greenspan Warns of Explosive Inflation: “Tinderbox Looking For a Spark”

http://www.shtfplan.com/headline-news/insider-alan-greenspan-warns-of-explosive-inflation-tinderbox-looking-for-a-spark_03082015

Alan Greenspan Warns Stocks Are "Without Doubt Extremely Overvalued"

So when will current Fed Chairwoman Janet Yellen put a gag order on former Fed Chairman Alan Greenspan for speaking the truth?

http://www.zerohedge.com/news/2015-03-06/alan-greenspan-warns-stocks-are-without-doubt-extremely-overvalued

Federal Reserve Insider Alan Greenspan Warns: There Will Be a “Significant Market Event… Something Big Is Going To Happen”

Former Fed Chairman Alan Greenspan is starting to sound like a lunatic fringe, conspiracy theorist doomsday blogger.  Only problem is he was one of the architects of this money-printing propaganda.

http://www.shtfplan.com/headline-news/federal-reserve-insider-alan-greenspan-warns-there-will-be-a-significant-market-event-something-big-is-going-to-happen_02222015

Why Is China Hoarding Gold? Alan Greenspan Explains

This is more evidence Greenspan believes gold is money, despite his official anti-gold quotes as the former Fed Chairman.

http://www.zerohedge.com/news/2014-09-30/why-china-hoarding-gold-alan-greenspan-explains

Gold and Economic Freedom

It is hard to believe former Fed Chairman Alan Greenspan wrote this, but that he did in 1966--BEFORE he was Fed Chairman.

http://constitution.org/mon/greenspan_gold.htm

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.

In order to understand the source of their antagonism, it is necessary first to understand the specific role of gold in a free society. 

Money is the common denominator of all economic transactions. It is that commodity which serves as a medium of exchange, is universally acceptable to all participants in an exchange economy as payment for their goods or services, and can, therefore, be used as a standard of market value and as a store of value, i.e., as a means of saving.

5 reasons why US States are keen to return to sound money

http://www.24hgold.com/english/news-gold-silver-5-reasons-why-us-states-are-keen-to-return-to-sound-money.aspx?article=4360113540G10020&redirect=false&contributor=Jan+Skoyles

As Eric Sprott so eloquently explained last year, ‘we are compelled to review the facts: Europe is currently experiencing severe bank runs, budgets in virtually every western country on the planet are out of control, the banking system is running excessive leverage and risk, the costs of servicing the ever-increasing amounts of government debt are rising rapidly, and the economies of Europe, Asia and the United States are slowing down or are in full contraction. There’s no sugar coating it and we have to stop listening to politicians and central planners who continue to downplay, obfuscate and flat out lie about the current economic reality… NOTHING the central bankers have done up to this point has WORKED.’

As Alan Greenspan wrote, “Gold and freedom are inseparable. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. Gold stands as the protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”

Elliott's Singer On Bernanke Destroying "The Value Of Money" And "Uprooting The Basic Stability Of Society"

http://www.zerohedge.com/news/2013-05-03/elliotts-singer-bernanke-destroying-value-money-and-uprooting-basic-stability-societ

Alan Greenspan: WE CAN ALWAYS PRINT MORE MONEY

http://youtu.be/q6vi528gseA

Gold and Economic Freedom, by Alan Greenspan

Yes, that Greenspan, only this paper was scribed in 1966, before he was appointed Fed Chairman. 

http://www.constitution.org/mon/greenspan_gold.htm

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 the "Greenspan Put" To The "Bernanke Guarantee"

http://www.zerohedge.com/news/greenspan-put-bernanke-guarantee

Former Fed Chairman Greenspan quote on gold

“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."

Greenspan Says Euro ‘Breaking Down’

I want every reader of my blog to read this.  Keep in mind these opinions are coming from a former Fed Chairman, in fact one the most visible and influential Fed Chairmen ever, if not THE most.  This opinion is not coming from  the blogosphere.  Having said that, us "lunatic fringe bloggers" have seen this coming a mile away.  Ignore Greenspan's warnings at your peril. 

http://www.bloomberg.com/news/2011-08-23/greenspan-says-the-euro-is-breaking-down-may-harm-stock-prices.html

No Gold Bubble

Greenspan also said that he did not think gold, which reached a record above $1,900 an ounce this week, was in a bubble.


“Gold, unlike all other commodities, is a currency,” he said. “And the major thrust in the demand for gold is not for jewelry. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.”

After leaving the Fed, Greenspan founded the consulting firm Greenspan Associates and has been a consultant or adviser to Deutsche Bank AG, Pacific Investment Management Co. and hedge fund Paulson & Co.

Again, put this into context.  As Fed Chairman, Greenspan was the master anti-gold evangelist.  He knew that confidence in the USDollar as the global reserve currency meant the price of gold had to be incessantly knocked down (i.e. price suppressed).  Even current Fed Chairman Ben Bernanke denied gold was money in a Congressional testimony.  When queried by Ron Paul why gold was stored in vaults as reserves on our nation's balance sheet, and why not diamonds, Bernanke lied and said it was due merely to "tradition", and that gold was NOT money.

Greenspan, Bernanke's predecessor, completely refutes Bernanke in this article.  It certainly appears central bankers only speak the truth when they are OUT of office, not while IN office.

Greenspan Says Stocks Will Decline Following S&P U.S. Rating Cut

Is it coincidence that former Fed Chairman Alan Greenspan has been brutally honest since leaving his post in 2006?

http://www.businessweek.com/news/2011-08-07/greenspan-says-stocks-will-decline-following-s-p-u-s-rating-cut.html

Fed's Massive Stimulus Had Little Impact: Greenspan

Now that Greenspan is no longer Fed Chairman, he speaks the truth. 

http://www.cnbc.com/id/43598606

The Federal Reserve's massive stimulus program had little impact on the U.S. economy besides weakening the dollar and helping U.S. exports, Federal Reserve Governor Alan Greenspan told CNBC Thursday.

In a blunt critique of his successor, Fed Chairman Ben Bernanke, Greenspan said the $2 trillion in quantative easing over the past two years had done little to loosen credit and boost the economy.

"There is no evidence that huge inflow of money into the system basically worked," Greenspan said in a live interview.

"It obviously had some effect on the exchange rate and the exchange rate was a critical issue in export expansion," he said. "Aside from that, I am ill-aware of anything that really worked. Not only QE2 but QE1."