To: Zardoz who wrote (67889 ) 4/21/2001 12:03:36 AM From: Rarebird Respond to of 116762 <Gold is dead, long live Silicon> "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. ...The holder of a government bond or of a bank deposit created by paper reserves believes that he has a valid claim on a real asset. But the fact is that there are now more claims outstanding than real assets." "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." Alan Greenspan, Gold and Economic Freedom gold-eagle.com This is the same Alan Greenspan who is now presiding over the greatest and quickest interest rate manipulation in the history of the Fed. Greenspan has renounced his ideas on Gold and has stored up immense financial harm for most of the World's population. What Greenspan is doing now was already done in the 1920's and failed. It will fail again. The Real Tragedy of the situation is that Alan Greenspan KNOWS this, but he is doing it anyway, because he has no other choice. Brilliant Minds Err too and Create the Greatest Tragedies. Anyone who has got to rely on Alan Greenspan here to protect one's wealth is in serious trouble. I urge everyone to heed the motto of the Enlightenment. "Think For Yourself." (Kant) Everyone can and must do this. There is no Higher Moral Commandment. It is time to protect oneself from Alan Greenspan. Time to Buy Gold. The Bull Market in the U.S. Dollar which began in 1995 is on its last legs. What will happen, Hutch, if the ECB doesn't cut rates SOON? Will the pressure on the Dollar become intolerable? In almost 3 days since the most recent rate cut, the Dollar Index has fallen almost 2%. And as that downside pressure on the Dollar increases, the UPSIDE pressure on Gold in $US terms will also increase. At some point, it will have to break. With the Fed now in radical extreme mode, it is going to be harder and harder to continue to hold Gold down. It is time for individuals throughout the world to protect themselves from Alan Greenspan. If you have wealth in the form of Gold, you can save yourself before it's too late. Protect yourself, Hutch. Alan Greenspan is not God. He will not protect your equity investments. He cannot. He is in over his head here.