[Travis McGee]

Interesting article. Most folks do not understand that Greenspan was an ardent "gold bug" before going to the fed.

[Travis McGee]

In addition, here's what he said on December 19, 2002 when he spoke to the Economic Club of New York in New York City:

"In the two decades following the abandonment of the gold standard in 1933, the Consumer Price Index in the United States nearly doubled. And, in the four decades after that, prices quintupled. Monetary policy, unleashed from the constraint of domestic gold convertibility, had allowed a persistent over issuance of money. As recently as a decade ago, central bankers, having witnessed more than a half-century of chronic inflation, appeared to confirm that a fiat currency was inherently subject to excess."

What was it you said about drunken fools who talk about fiat currency, and who need to be safely guided home from bars?

Is Greenspan a drunken fool, in your estimation?

[Mulder]

Interesting article. Most folks do not understand that Greenspan was an ardent "gold bug" before going to the fed.

Thanks for the ping. Interesting how a little money and a lot of power can change someone's mind. I believe it was Washington who said that few men can withstand the highest bidder....

Anyway, gold did hit 500 FRN's today and I expect it to go much higher into the future as the dollar continues it's collapse.