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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: IngotWeTrust who wrote (87783)	7/12/2002 11:37:27 PM
From: Jamey	Read Replies (3) of 116796

gold-tutor, do you all believe this comment from Greeny? FOR REAL!ALAN GREENSPAN QUOTED! He said "The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit." Even then, he said, "the fact is there are now more claims outstanding than real assets" to redeem those claims. "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation," he concluded. "There is no safe store of value" for the dollar. "This is the shabby secret of the welfare statists' tirades against gold," he wrote. "Deficit [government] spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights." ragingbull.lycos.com Santi

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