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Quote by Alan Greenspan

“An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.”

Book:Capitalism: The Unknown Ideal

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Capitalism: The Unknown Ideal

This book delves into the philosophical underpinnings of capitalism, discussing its moral and ethical aspects, and presenting arguments in favor of the system. more

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Alan Greenspan

Alan Greenspan, born on March 6, 1926, is an accomplished economist from the United States. He has made significant contributions to the field of economics and has had a profound impact on the global financial system as the Chairman of the Federal Reserve System. more

“That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.”

Would Be Mistake Percent Gold Dollars Rate Sufficient Currency Floating Appreciated Intervention Joints Steep Switching

Author:Paul Volcker

“It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.”

Facts Century Unique Standards Gold Objectives Tendencies Boards Stability Currency Passive Banking Inflation Nineteenth Century Central Banks Gold Standard Prominence Price Stability

Author:Paul Volcker

Quote by Alan Greenspan

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