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Gold Standard Thesis

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According to the former head of the federal reserve, Alan Greenspan, “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.” The gold standard is a monetary system in which the value of a nation's currency is linked to the price of gold. The United States use to use the gold standard during the late 1800s and effectively abandoned the system during the Great Depression. Today, there is talk about abandoning the current economic system of fiat money or currency backed by the full faith and credit” of the U.S government and reverting back to the gold standard. For a stable economy, I believe that the gold standard should not

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