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Gold/Mining/Energy : Hecla Mining(HL)

HL 12.86

-0.3%

3:59 PM EDT

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To: Bobby Yellin who started this subject	12/7/2002 8:22:06 AM
From: D.Austin	of 629

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. 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 (debt creation)." by Allan Greenspan (#8) in The Objectivist newsletter published in 1966, reprinted in Ayn Rand's Capitalism: The Unknown Ideal. ------------------- capitalism.org

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