Case for Gold: A Minority Report of the United State Gold Commission

Amidst, rampant inflation of the 1970's, a skyrocketing deficit... Things didn't look so good and a number of business and political leaders seriously enterained and supported the idea of reverting back to the gold standard. Sooner or later the financial institutions and fiat money cartel will abuse its power of the press and inflate us into another depression. Perhaps then instead of migrating to a world bank and currency structure, we will kill the fiat money machine once and for all.

Lastly consider these words: "Under a gold standard, the amount of credit that an economy can support is determined by the economy's tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, only by the government's promise to pay out of future tax revenues... A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government spending under a gold standard is severely limited.... In the absence of a gold standard, there is no way to protect savings from confiscation through inflation.... This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process..." Moreover, the author also makes it known that the gold standard wouldn't have the prolonged economic distortions and vicious boom-and-bust cycles that fiat money systems have. Who was the author? None other than Alan Greenspan in an essay called Gold and Economic Freedom. When Greenspan, the Federal Reserve Chief, is face-to-face with Ron Paul... in the back of his head, he knows Paul is right and that the central bank is wrong!