Greenspan Warns A Crisis Is Imminent, Urges A Return To The Gold Standard | Zero Hedge
“We’re dealing now in very early days a crisis which has got a way to go. If we went back on the gold standard and we adhered to the actual structure of the gold standard as it exited prior to 1913, we’d be fine. Remember that the period 1870 to 1913 was one of the most aggressive periods economically that we’ve had in the United States, and that was a golden period of the gold standard.”
DYI Comments: Prior to his tenure as Chairman of the Federal Reserve Alan Greenspan was, using short hand "a gold bug." As soon as he became Chairman he presided over aggressively dropping interest rates and systematically increasing the money stock. All aspects in complete contradiction to any version of a gold standard. Well God bless him at least at the age of 90 he is back on track to honest money.
To be honest this puts me at wits end. This on top of another thousand reasons is why this central bank needs to be closed. Historically America closed three banks before for smany of the same reasons. Maybe fourth time is a charm.
DYI
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