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Gold Standard Needed Now More Than Ever?

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By Alan Greenspan
“It would be best not to be short-sighted when it comes to gold; at least that is what one former Fed chair says. ‘[T]he risk of inflation is beginning to rise…Significant increases in inflation will ultimately increase the price of gold,’ noted Alan Greenspan, Federal Reserve chairman from 1987 to 2006, in an interview published in the World Gold Council’s Gold Investor February issue. ‘Investment in gold now is insurance. It’s not for short-term gain, but for long-term protection….We would never have reached this position of extreme indebtedness were we on the gold standard, because the gold standard is a way of ensuring that fiscal policy never gets out of line.'”

In 2017, Mr. Greenspan appears to have arrived at the same conclusion he espoused a half century ago, prior to serving as Fed Chairman… “An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions….gold and economic freedom are inseparable.” -Alan Greenspan, 1966 White Paper-Speech

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