<b>greenspan's thoughts on gold.</b>

  1. 1,816 Posts.
    See what Greenspan wrote in 1981 about the possibility of the US reverting back to a gold standard...


    Some quotes:

    "Yet even those of us who are attracted to the prospect of gold convertibility are confronted with a seemingly impossible obstacle: the latest claims to gold represented by the huge world overhang of fiat currency, many dollars."

    "The immediate problem of restoring a GOLD STANDARD is fixing a gold price that is consistent with market forces."

    "Those who advocate a return to a GOLD STANDARD should be aware that returning our monetary system to gold convertibility is no mere technical, financial restructuring. It is a basic change in our economic processes. However, considering where the policies of the last 50 years have eventually led us, perhaps there are lessons to be learned from our more distant GOLD STANDARD past."

    Dejavu ??
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