Deficit spending is simply a scheme for the confiscation of wealth

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“In the absence of the gold standard, there is no way to protect
savings from confiscation through inflation. … This is the shabby
secret of the welfare statists’ tirades against gold. Deficit spending
is simply a scheme for the confiscation of wealth. Gold stands in the
way of this insidious process. It stands as a protector of property
rights. If one grasps this, one has no difficulty in understanding the
statists’ antagonism toward the gold standard.”

— Alan Greenspan
(1926- ) Chairman of the Federal Reserve Board of Governors (1987-2006)
Source: from page 101 of the book “Capitalism, the Unknown Ideal”
by Ayn Rand with additional articles by Alan Greenspan – 1966

[The inability of the vast number of Americans to understand this is stunning.]

 

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About Iowa Life

Experiencing life in Iowa.
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