Card V-9: ALAN GREENSPAN – 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.

Series V · Card 9 of 21 · THE MINE

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.

ALAN GREENSPAN · GOLD AND ECONOMIC FREEDOM · 1966

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Source

“Gold and Economic Freedom”, The Objectivist, July 1966, final paragraph

Open source · constitution.org ↗

About the author

American economist (b. 1926). Chair of the US Federal Reserve from 1987 to 2006. In 1966, long before taking office, he wrote a much-quoted defence of the gold standard.

The question on the back

How much do you distrust plans that feel good today and cost dearly tomorrow?