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.
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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.