Quote by Alan Greenspan

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.

In the absence of the gold standard, there is no way to prot

Summary

This quote by economist and Nobel laureate Alan Greenspan suggests that without a gold standard, there is no reliable means to safeguard savings from loss of value due to inflation. In a system without a fixed anchor like gold, the value of currency can become vulnerable to manipulation or devaluation by governments. Without a "safe store of value" like gold, individuals may find it challenging to protect their wealth or savings from erosion caused by inflationary measures.

Topics

Finance

By Alan Greenspan

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