The Real Alan Greenspan – Past and Present

Regular readers are familiar with a quotation from Alan Greenspan, which has been used in a number of previous pieces, dating back to 1966:

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

Standing alone, the quote appears profound, perhaps even heroic, given the sea of paper-pushing, banker dogma which surrounded that quote, and continues to surround it to this day. Indeed, many readers may have asked themselves: how could 1966 Alan Greenspan have ended up as Chairman of the Federal Reserve, just over twenty years later?

How could the same, supposed, man-of-the-people who “warned us” about the evils of inflation (i.e. banker money-printing) have ended up as the High Priest of Inflation, and thus the principal thief responsible for “confiscating” the wealth/savings of people all around the Western world?

The answer to that question is that Alan Greenspan is, literally, the farthest thing from a “man of the people.” More specifically, when Greenspan uttered his prophetic words, he was not warning us. This becomes apparent as soon as we expand upon Greenspan’s 1966 quote, by adding further context. The paragraph (near the end) which starts with the quote above, ends with this sentence:

The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. [emphasis mine]

Suddenly, our Hero takes on a different complexion. His “warning” was intended only for “the Owners of wealth”, i.e. Greenspan’s warning was intended exclusively for the Wealthy. Of far greater importance, isfrom whom Greenspan believed that the Wealthy required their “protection” (via the gold standard). We see this clearly in the first two sentences of the next paragraph.

This is the shabby secret of the welfare statists’ tirades against the gold standard. Deficit spending is simply a scheme for the confiscation of wealth.

This is 1966 Alan Greenspan: a deluded, right-wing ideologue. In 1966; Alan Greenspan was a mere professor, perched high up in his Ivory Tower, within the (tiny) world of academia.

In that tiny world, excessive money-printing, and (excessive) deficit-spending was not being perpetrated by the Wealthy (i.e. the oligarchs), in order to steal all of the wealth of the People. Rather, it was the People, via the so-called “Welfare Statists”, who were supposedly going to steal from the Wealthy. (Readers will be given time to recover from their laughter.)

As we now see, 50 years later, 1966 Alan Greenspan had things precisely backwards, in every respect. The excessive money-printing (and the inflation it has produced) has been exclusively a Weapon of the Wealthy, one that has been used exclusively to steal from everyone else. Since “deficit spending” is the excuse (of the bankers and politicians) for even more money-printing/inflation, it is equally and exclusively a Weapon of the Wealthy, used to steal from everyone else.

It is the standard of living of the Average Person which has fallen by well over 50% since 1966 Greenspan uttered his prophetic, but completely misguided warning. It is their wealth which has been stolen. For the Wealthy, their standard of living continues to soar, resulting in the greatest wealth-disparity between have’s and have-not’s in our societies in recorded history.

We know who the Thieves are: they are the ones sitting with all of the “confiscated” wealth. We know who are the Victims of these Thieves. They are the ones whose wealth is gone – the People. But this begs a different question, in the minds of inquiring readers.

In 1966; Alan Greenspan was a mere academic Don Quixote, tilting at imaginary wind-mills, in his fantasy-world where (for the first time in history) the People were supposedly going to steal from the Wealthy, instead of the other way around.

An imbalance between Rich and Poor is the oldest and most-fatal ailment of all republics.

-    Plutarch (AD 46 – AD 120)

If Greenspan were a true student of history, instead of a dogma-blinded ideologue, he would have understood that – 2,000 years ago – it was already old news that the “most-fatal ailment of all Republics” is the Rich stealing from the Poor, not the other way around. That is how “the Poor” become so poor.

Why would the bankers (and the Oligarchs behind them) have even bothered to reach out and pluck this Don Quixote from his Ivory Tower? Because, as is evident from Greenspan’s terminal, ideological bias, Greenspan himself identified solely with the interests of the Wealthy. It was their wealth he was so keen to “protect”.

Thus when Greenspan was brought into the real world and told the Truth: that “inflation” was, and is, always a Weapon of the Wealthy, always used against the People, Greenspan was only too-willing to serve. It was only a small step (for him) from writing imaginary warnings to “protect” the Wealthy, to becoming their Chief Thief – a crime for which he was eventually Knighted.

What seems to be at first a contradiction is actually nothing but perfect synchronicity. The “1966 Alan Greenspan” was really no different than the 1986 Alan Greenspan, and neither incarnation is any different from Sir Alan Greenspan of 2016. In all of these incarnations, Greenspan was and is nothing but another lackey for the Wealthy.

All that changed was Greenspan’s perspective on inflation. As soon as he learned that inflation was a Weapon wielded by the Wealthy (not against the Wealthy), used against everyone else, he went fromhating inflation to loving inflation – and thus creating as much inflation as possible.

The flip-side to that is the other, significant difference between 1966 Greenspan, 1986 Greenspan, and 2016 Greenspan. In 1966; Alan Greenspan was a defender and advocate of the gold standard – admittedly an advocate who was about as far-deluded from reality as possible. But by the time Greenspan had ‘evolved’, to become Chief Thief at the Federal Reserve, his attitude toward gold and the gold standard had changed, 180 degrees.

…central banks stand ready to lease gold in increasing quantities should the price rise.

-    Testimony of Federal Reserve Chairman Alan Greenspan, July 24^th 1998

Informed readers understand that so-called “bullion leasing” is another one of the bankers’ fraudulent sham-transactions, an activity for which there could never be a legitimate business purpose. Its illegitimate purpose is now well-known. It is a way for central banks to secretly dump “their gold” (i.e. our gold) onto the market in order to depress the price, while still pretending to have both legal title to that gold and legal custody.

When 1966 Greenspan thought gold protected the Wealthy from the People, he loved gold. When he learned the truth: that gold (and silver) protects the People from the Wealthy, he suddenly hated gold.

There never really were “two Alan Greenspans”. He was, and is always nothing more than a wealthy-toadying elitist. All that ever changed was that eventually, after he left his Ivory Tower in academia, Greenspan finally got an “education.”