Inflation is nothing, huh? And Greenspan is the great man.
"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."
Alan Greenspan, "Gold and Economic Freedom" 1966 see google.com
Yes gold , and for that matter silver, uranium, oil, natural gas, etc, are pains in the ass. Like Churchill said of democracy, it is a terrible form of government. The only problem is that everything else is worse. Something similar can be said of the dollar, and for that matter, the Euro, the yen, the pound.
"What's it to be Mr Franklin?"
"A republic, if you can keep it."
US Constitutional Convention, Philadelphia, 1789
I am not a gold bug. I hate that I feel like I must put assets in places other than dollars. I voted for this shrub in the White House twice and he is spending like there is no tomorrow, or well, the congress is and he signs the bills into law. If you are not too enraged at the thought of not being right, perhaps you might stroll through any of or all, Rothbard's The Case Against the Fed, Griffin's The Creature From Jekyll Island, and Bonner & Wiggins, Empire of Debt, three books that have given me pause to consider I have never given our government and finances an honest hard look. And I will never look at the internal structure of the USA the same way again. And this is the rub, I would love to find my suspicions are without foundations, my worries all without cause. I work with a woman, an RN, who is taking early retirement at 62 and will depend on her pension and social security to fund her mortgage she still has 22 years on. She believes that what happened to United and what is happening to Ford and GM cannot happen to the US government. Well maybe she is right, and then so was Dr Pangloss.
jim black |
