Deficit spending is simply a scheme for the confiscation of wealth.

bubblesmoney

[SIZE=-1][SIZE=-1]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.[/SIZE]
[SIZE=-1]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.[/SIZE]
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Can guess who said this?

Now dont start telling me that it is Asheron!!!

Although i am sure Asheron would be proud to have written that essay. But who wrote this essay in reality?
:question:
:question:

:think:
:think:

:idea:

:eek: :eek: :eek:

It was Alan Greenspan!
:rotfl: . Sorry for the chaps who were betting at ladbrokes that it was Asheron. I literally fell off my sofa when i saw Alan Greenspans name at the end of the essay. How people change their spots with time. Read the rest of that essay on this link
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<H3>[SIZE=+2]Gold and Economic Freedom[/SIZE]

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[SIZE=-1]by Alan Greenspan[/SIZE]
[SIZE=-1][written in 1966][/SIZE]

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drc

So, in other words. We should buy gold :rolleyes: