Alan Greenspan: Gold is Stronger Than US Dollar

[myrobbins7]

November 11, 2014—Speaking on a chapter dedicated to gold in his new book, Alan Greenspan said, “gold is the premier currency where no fiat, including the dollar, can match it.”

As Chairman of the Federal Reserve System from 1987-2006, Greenspan enacted an inflationary policy that defined the era with economic bubbles. His recent comments indicate he’s learned a lesson from those bubbles bursting.

Alan Greenspan: Gold is Stronger Than US Dollar | Voices of Liberty, Powered by Ron Paul

My pleasure my friends. :hi:

 

[Grand Vol]

In other news today, water was found to be wet.

Gold and other precious metals will always outperform currency.

 

[davethevol]

Brass is the most valuable. If the economy collapses, it's going to be the only one worth something.

 

[Grand Vol]

Brass is the most valuable. If the economy collapses, it's going to be the only one worth something.

Only when combined with copper, lead and steel. And the correct proportions of sulfur, charcoal, and potassium nitrate.

 

[davethevol]

Only when combined with copper, lead and steel. And the correct proportions of sulfur, charcoal, and potassium nitrate.

I was just talking about brass knuckles, Charlton Heston.

 

[hog88]

In other news today, water was found to be wet.

Gold and other precious metals will always outperform currency.

And Alan Greenspan is a douche.

 

[Grand Vol]

I was just talking about brass knuckles, Charlton Heston.

I don't want them that close.

 

[Velo Vol]

The markets react to the wisdom of the "Maestro."

PRECIOUS-Gold slides below $1,150/oz as dollar strengthens | Reuters

 

[myrobbins7]

In other news today, water was found to be wet.

Gold and other precious metals will always outperform currency.

Absolutely, but it sure is fun printing all of those Janet "I Owe You" Yellen "Federal" Reserve Notes.

 

[n_huffhines]

In other news today, water was found to be wet.

Gold and other precious metals will always outperform currency.

This is relevant if you know much about Greenspan. He was a gold-backed money guy before he became part of the establishment. Then he was a fiat money shill for 3 decades, now he sounds like he's moving back to gold standard.

It's important to the discussion about sound currency.

 

[hog88]

This is relevant if you know much about Greenspan. He was a gold-backed money guy before he became part of the establishment. Then he was a fiat money shill for 3 decades, now he sounds like he's moving back to gold standard.

It's important to the discussion about sound currency.

In short douche.

 

[PKT_VOL]

This is relevant if you know much about Greenspan. He was a gold-backed money guy before he became part of the establishment. Then he was a fiat money shill for 3 decades, now he sounds like he's moving back to gold standard.

It's important to the discussion about sound currency.

This is all that matters whether it is a precious metal or fiat currency.

 

[n_huffhines]

This is all that matters whether it is a precious metal or fiat currency.

Right. Honestly, I don't even care if we only have paper currency (blasphemous from a libertarian), just as long as long as money supply is fixed.

 

[Grand Vol]

This is relevant if you know much about Greenspan. He was a gold-backed money guy before he became part of the establishment. Then he was a fiat money shill for 3 decades, now he sounds like he's moving back to gold standard.

It's important to the discussion about sound currency.

My knowledge of the economics side is extremely limited as I've stated before. But I do know precious metals generally outperform any currency, regardless of the financial footing of the nation(s) involved.

ETA: Thanks for letting me know about Greenspan. I thought he was generally well regarded.

 

[McDad]

My knowledge of the economics side is extremely limited as I've stated before. But I do know precious metals generally outperform any currency, regardless of the financial footing of the nation(s) involved.

Precious metals outperform currency by what criteria? Inflation, purchase power, appreciation?

 

[McDad]

Right. Honestly, I don't even care if we only have paper currency (blasphemous from a libertarian), just as long as long as money supply is fixed.

Ideally, what should the currency be fixed to?

 

[Grand Vol]

Precious metals outperform currency by what criteria? Inflation, purchase power, appreciation?

Again, from my limited knowledge, all of the above. Purchase power is obviously limited, but in times of crisis, gold and silver still have value over paper currency. Being a real medium, it doesn't depend on having faith in a government institution.

 

[McDad]

Again, from my limited knowledge, all of the above. Purchase power is obviously limited, but in times of crisis, gold and silver still have value over paper currency. Being a real medium, it doesn't depend on having faith in a government institution.

I agree with the financial benefits to precious metals. I used to believe it was viable in times of crisis but no longer do.

 

[n_huffhines]

My knowledge of the economics side is extremely limited as I've stated before. But I do know precious metals generally outperform any currency, regardless of the financial footing of the nation(s) involved.

ETA: Thanks for letting me know about Greenspan. I thought he was generally well regarded.

FWIW, most conservatives seem to like Greenspan. As far as people on his level go, he was pretty laissez faire except when it comes to central banking (which is where he had power) and he was appointed by Reagan, so conservatives like him for those reasons.

The fed chair that conservatives should like most is Volker, who was appointed by Carter, but worked with Reagan most of his tenure.

 

[n_huffhines]

Ideally, what should the currency be fixed to?

It wouldn't be tied to anything, we would just have a fixed amount of dollars circulating in the economy.

 

[hog88]

I agree with the financial benefits to precious metals. I used to believe it was viable in times of crisis but no longer do.

I'm with you.

In a total collapse precious metals will be virtually worthless.

 

[n_huffhines]

I'm with you.

In a total collapse precious metals will be virtually worthless.

I think that's possible but not necessarily the case.

 

[McDad]

It wouldn't be tied to anything, we would just have a fixed amount of dollars circulating in the economy.

I see. I assumed the value would be fixed to some asset. Sorry about that. There is a term which i cannot think of right now. It basically describes the number of times money changes hands. It is believed to be a significant factor in the health of our economy. I wonder if money supply is fixed while the population expands if the effects on the "turnover"(not the correct term) would be deleterious?

 

[hog88]

I think that's possible but not necessarily the case.

Some will place value on them of course. I'm not talking a recession/depression I'm talking economic collapse. In that scenario I can only see consumable commodities as a viable tender.

 

[McDad]

I'm with you.

In a total collapse precious metals will be virtually worthless.

I came to that conclusion by reading biographical accounts of people who lived in societies where the financial system collapsed. Price controls, rationing, severe monetary policy forced law abiding people to the black market for necessities. I would not want to be exchanging gold or silver with others in a lawless marketplace.