From the horse’s mouth
December 16th, 2005 by 
InLibrisLibertas
“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… 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… Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. ” - Alan Greenspan
Posted in Metals & Mining, The Fed | 