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Strategies & Market Trends : Coming Financial Collapse Moderated -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (103)	6/13/2001 7:29:32 PM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 974

ex-urpt from R. Russell.. it's time! You have to wonder whether there's something in the air in Washington DC that causes government workers to lose their minds. If so, Al Greenspan must be breathing deeply. Here's what Greenspan wrote in 1963, back in the days when he was obviously a moral and idealistic young man. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. . .. . Gold stands in the way of this insidious process. It stands as the protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. You noticed? No Fed-speak here. No Greenspan obfuscations or double-talk. Just plain talk. So what happened? To give Greenie the benefit of the doubt, he must work with what he's got and within the confines of the system. The system dictates that there are no boundaries in the creation of "legal tender." The system dictates that the Fed control short-term rates. The system dictates that the Fed is the chief manipulator and that gold should have no role in the monetary system. The system wants its citizens to believe that gold is not money -- that slip of paper (actually linen and cotton) are money. The system will cling to all these concepts until the concepts themselves fall apart. It's the Washington way. It's the world's way. But it's not the way it will end. In the end, fiat currency will lose all its value. Every fiat currency in history has ultimately lost all its value or been replaced.