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Title: Alan Greenspan on the importance of gold
Review: In 1967, a 35 years younger Alan Greenspan wrote an article called Gold and Economic Freedom (which is reprinted in Capitalism: The Unknown Ideal by Ayn Rand).Greenspan wrote that: "An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense - perhaps more clearly and subtly than many consistent defenders of laissez-faire - that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other? This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights."
