Alan Greenspan Quotes

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. ... … 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.

Deficit spending is simply a scheme for the confiscation of wealth

People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.

Well, the problem of the federal government is that they print money and go in debt. That's their national policy, Democrats and Republicans it doesn't matter. And this is where I differ.

By the experience of commercial nations in all ages it has been found that gold and silver afford the only safe foundation for a monetary system.

The debt ceiling serves no useful purpose.

A real gold standard is thoroughly consistent with [classical] liberal principles and I, for one, am entirely in favor of measures promoting its development.

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. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.

The party in power almost always unapologetically engages in deficit spending, while the other party argues passionately against the evils of debt and deficits.

There's no debt limit in the Constitution.

Obama did inherit a deficit when he came into office. Why this fact justifies racking up vastly more debt and bigger deficits is a logical mystery.

The BBC is locked to the reading of the economy that is run out of Ed Miliband and Ed Balls' office. They think if only you spend and borrow more money you can create growth everywhere.

But only 'rich' people by definition have the 'extra' money to buy things and invest to create economic growth. Do we really want to tax that 'extra' money away - and give it to the government to spend? Does that make any economic sense outside of politics and our emotional desire to make everyone suffer equally through these tough times?

When George W. Bush entered office, the national debt was $5 trillion. When he left, it was $10 trillion. I think the administration spent too much money.

After adding trillions to the debt on big-government policies most Americans didn't ask for and which we couldn't afford, Democratic leaders say they need more money, which they intend to take from small business, even though small businesses create the majority of new jobs.

The federal debt in this country is principally of Republican design.

Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here.

To reduce deficit spending and our enormous debt, you reign in spending. You cut the budget. You don't take more from the private sector and grow government with it. And that's exactly what Obama has in mind with this expiration of Bush tax cuts proposal of his.

At the same time, Republicans are pushing a $70 billion tax package that will overwhelmingly benefit the most wealthy Americans and actually increases the deficit by $16 billion.

The real reason to oppose increasing tax rates on the wealthy is that it's a good bet they could do more to help the economy if they keep their money rather than have their earnings confiscated by the government and spent on another round of stimulus.

Republicans spend and borrow, Democrats tax and spend.

An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.

After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money we don't have. But, instead of cutting, we saw an unprecedented explosion of government spending and debt, unlike anything we have seen in the history of our country.

If you want an alternative currency, check out gold. It has stood the test of thousands of years as a store of value and medium of exchange.

The problem with socialism is that you eventually run out of other peoples' money.