I am not an economist. I am an honest man! ― Paul McCracken Alan Greenspan was once both an economist and an honest man. He scornfully doubted the motives and methods of the Welfare State. He wrote eloquently of the virtues of honest, gold-backed money. In a 1966 essay he wrote, “…gold and economic freedom are inseparable….In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.…. 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.”
An Honest Economist
An Honest Economist
An Honest Economist
I am not an economist. I am an honest man! ― Paul McCracken Alan Greenspan was once both an economist and an honest man. He scornfully doubted the motives and methods of the Welfare State. He wrote eloquently of the virtues of honest, gold-backed money. In a 1966 essay he wrote, “…gold and economic freedom are inseparable….In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.…. 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.”