Sipsey Street Irregulars: Greenspan's Stunning Admission: "Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It"

Sunday, November 9, 2014

Greenspan's Stunning Admission: "Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It"

For some reason, the Council of Foreign Relations, where ex-Fed-Chief Alan Greenspan spoke last week, decided the following discussion should be left out of the official transcript. We can perhaps understand why... as Gillian Tett concludes, "comments like that will be turning you into a rock star amongst the gold bug community."

5 comments:

Anonymous said...: Silver too...; November 9, 2014 at 9:01 PM
Anonymous said...: Can't eat gold ... can't even buy a tin of peaches with gold - unless there is one tin to spare.

Ammo - and the means to deliver it - is the only currency which will pry that last tin of peaches away from the former possessor!

III; November 10, 2014 at 1:16 AM
Anonymous said...: Best investment in an economic crisis is not gold or silver. It is edible commodities. That's what you would use the gold to buy, so just buy the commodities instead. If you are a little short on ammo, then buy some more ammo. You can never have too much ammo or food.

- Old Greybeard; November 10, 2014 at 8:00 AM
Anonymous said...: The PM's are not for use during "the troubles", but for after. The current money is worthless except for the US-Mil forcing overseas use and oil purchases. Users of gold and silver (and copper/nickel/platinim/palladium etc) have no need to trust a 3rd party (official issuer) to "back" a currency. No counterparty risk. The metal IS the money, upgraded into a convenient guaranteed weight in coin mostly by pretty-trustworthy national mints.

Agree completely about having personal stocks of water-food-tools-clothes-fuel-tribe-garden-ammo-training-etc. during bad times without supply/trade.

pdxr13; November 11, 2014 at 1:08 AM
KBCraig said...: I see Greenspan has come full circle.

In 1963, he wrote in favor of gold and lambasted the Federal Reserve. His essay was included in Ayn Rand’s “Capitalism: The Unknown Ideal”.; November 11, 2014 at 11:39 AM

"Progress made under the shadow of the policeman's club is false progress."

I believe that liberty is the only genuinely valuable thing that men have invented, at least in the field of government, in a thousand years. I believe that it is better to be free than to be not free, even when the former is dangerous and the latter safe. I believe that the finest qualities of man can flourish only in free air – that progress made under the shadow of the policeman's club is false progress, and of no permanent value. I believe that any man who takes the liberty of another into his keeping is bound to become a tyrant, and that any man who yields up his liberty, in however slight the measure, is bound to become a slave. -- H.L. Mencken

"The Fate of Unborn Millions. . ."

"The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves; whether they are to have any property they can call their own; whether their Houses, and Farms, are to be pillaged and destroyed, and they consigned to a State of Wretchedness from which no human efforts will probably deliver them. The fate of unborn Millions will now depend, under God, on the Courage and Conduct of this army-Our cruel and unrelenting Enemy leaves us no choice but a brave resistance, or the most abject submission; that is all we can expect-We have therefore to resolve to conquer or die." -- George Washington to his troops before the Battle of Long Island.

"We will not go gently . . ."

This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can't be done? And if we do not try, it most certainly won't be done. The Founders' Republic, and the larger war for western civilization, will be lost.

But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.

And when we are gone, the scattered, free survivors hiding in the ruins of our once-great republic will sing of our deeds in forbidden songs, tending the flickering flame of individual liberty until it bursts forth again, as it must, generations later. We will live forever, like the Spartans at Thermopylae, in sacred memory.

-- Mike Vanderboegh, The Lessons of Mumbai:Death Cults, the "Socialism of Imbeciles" and Refusing to Submit, 1 December 2008

"A common language of resistance . . ."

"Colonial rebellions throughout the modern world have been acts of shared political imagination. Unless unhappy people develop the capacity to trust other unhappy people, protest remains a local affair easily silenced by traditional authority. Usually, however, a moment arrives when large numbers of men and women realize for the first time that they enjoy the support of strangers, ordinary people much like themselves who happen to live in distant places and whom under normal circumstances they would never meet. It is an intoxicating discovery. A common language of resistance suddenly opens to those who are most vulnerable to painful retribution the possibility of creating a new community. As the conviction of solidarity grows, parochial issues and aspirations merge imperceptibly with a compelling national agenda which only a short time before may have been the dream of only a few. For many Americans colonists this moment occurred late in the spring of 1774." -- T.H. Breen, The Marketplace of Revolution: How Consumer Politics Shaped American Independence, Oxford University Press, 2004, p.1.

Sipsey Street Irregulars

Sunday, November 9, 2014

Greenspan's Stunning Admission: "Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It"

5 comments:

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