Alan Greenspan: Savings Inflation

Posted by admin on Sunday, November 27, 2022

Meaning of Alan Greenspan Money Quote: suggesting that the gold standard protects savings from inflation by a store of value. Alan Greenspan said:
absence of the gold standard, protect savings from confiscation through inflation Quote

“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” — Alan Greenspan


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In this quote, Alan Greenspan expresses the view that without linking a currency to a gold standard, people’s savings are vulnerable to erosion via inflation.

By saying there is “no way to protect savings from confiscation through inflation”, Greenspan suggests that when fiat money can be printed at will by governments, inflation can act as a hidden tax on savers that slowly diminishes the real value of their assets over time.

He implies that gold, as a commodity with intrinsic value not controlled by any one entity, serves as a more secure “safe store of value” against this threat.

Overall, the quote conveys Greenspan’s belief that inflation poses a risk to savings under a fiat monetary system without the discipline of being convertible to gold.

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