Dr Alan Greenspan was Chairman of the Federal
Reserve from 1987 to 2006 and has been a key adviser to government
agencies, banks and financial institutions ever since. He reveals his
deep concerns about economic prospects in the developed world and
assesses the long-term value of gold.
"Significant increases in inflation will ultimately increase the price of gold. Investment in gold now is insurance."
Here are some excerpts:
The gold standard was operating at its peak in the late 19th and early 20th centuries, a period of extraordinary global prosperity, characterised by firming productivity growth and very little inflation
I view gold as the primary global currency. It is the only currency, along with silver, that does not require a counterparty signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counterparty. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC.
Read the rest here;
"Significant increases in inflation will ultimately increase the price of gold. Investment in gold now is insurance."
gold.org
FEB 21, 2017
FEB 21, 2017
In a recent interview with Gold Investor magazine. Greenspan is now coming out as a foundation of the historical gold standard. Dr Alan Greenspan on stagflation, indebtedness, despair and the role of gold
Here are some excerpts:
The gold standard was operating at its peak in the late 19th and early 20th centuries, a period of extraordinary global prosperity, characterised by firming productivity growth and very little inflation
I view gold as the primary global currency. It is the only currency, along with silver, that does not require a counterparty signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counterparty. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC.
Read the rest here;
