<<To rewrite the above paragraph, I would like to suggest that Mr. Greenspan is very much aware that his views of the gold standard to back up a countries money is still that he had in the past, but after becoming the Fed top person, he acted in a way counter to his Ayn Rand beliefs, and simply saw a bad situation that he could not control but a peice, and then proceeded to make the best of a bad situation thru compromise and working with the other folks
in the world community that decide money matters. >>
Could these be amoung the A. Rand quotes of which you spoke?:
"When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears nor all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor-- your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money. Is this what you consider evil?
and this almost brings a tear to the eye for the state we are in today and what Greenspan has forsaken:
"Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it becomes, marked: 'Account overdrawn.'
From ATLAS SHRUGGED, by Ayn Rand, page 387:
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