I agree with Bob, unfortunately, so while we are all "getting well"-just in time for.....? Upheaval?
Date: 6/29/2005 10:30:07 AM ( 16 y ) ... viewed 1055 times
COMMENT: Greenspan's Coming Perfect Storm.
Dear A-Letter Reader:
You may have noticed that from time to time we quote with approval the
Honorable Ron Paul, a Republican member of the US House of Representatives
from the great State of Texas. (Actually, Ron is far more a libertarian
than Republican, which is all to his credit).
Ron Paul also is a senior member on the House Committee on Financial
Services, and it is here that he has been a consistent (and persistent)
critic of Alan Greenspan, the long time (since 1987) chairman of the
Federal Reserve Board, personally confronting the Fed chairman and calling
into question Greenspan's polices, (if they can be called that with the
US facing a national debt of $7.78 trillion).
Ron, with whom I had the great pleasure of serving in the House, has
charged Greenspan with "flagrantly debasing the US dollar." Yet in his
youth Greenspan often spoke of the connection between sound money,
prosperity, and freedom.
In his 1966 article 'Gold and Economic Freedom' Greenspan said: "An almost
hysterical antagonism toward the gold standard is an issue that unites
statists of all persuasions. They seem to sense...that gold and economic
freedom are inseparable."
Ironically, Greenspan's 1966 analysis of the 1929 stock market crash, and
how the Fed precipitated that crisis, directly parallels current conditions
the US is experiencing under his own Fed management. Back in the day he
said the "shabby secret" of the proponents of big government and paper money
is that deficit spending is simply nothing more than a "scheme for the
hidden confiscation of wealth." Right on!
Yet look at the US today with a purely fiat monetary system, managed almost
exclusively by Greenspan, who once correctly denounced the Fed's role in the
Great Depression and recognized the need for sound money.
Alan Greenspan's 5th term as Fed chairman ends on Jan. 31, 2006 and he is
retiring -- enough is enough! But many experts are seriously concerned about
what comes next in this age of the declining dollar.
Some see a major crisis with enormous dollar problems after he's gone.
Greenspan himself once wrote: "The true measure of a career is to be able to
be content, even proud, that you succeeded through your own endeavors without
leaving a trail of casualties in your wake." Well, it remains to be seen how
many millions of casualties may trail after Alan.
But in an effort to minimize the damage the Sovereign Society has compiled a
special report showing how you can keep afloat through the pending 'perfect
storm' that may follow Greenspan's chairmanship.
When you join our currency trading advisory service, The Money Trader, we'll
send it to you free of charge. Don't be one of Greenspan's casualties.
That's the way it looks from here.
Bob Bauman, Editor
PS: To obtain your copy of this free report, click here:
* Hon. Ron Paul on "Paper Money and Tyranny"
* Greenspan in the Hot Seat.
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