From Gold Standard Now
"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..." (Alan Greenspan, former Chairman of the
The continual and increasing issuance of U.S. dollars has steadily
eroded its value. This has been particularly pronounced since
abandoning the final vestige of the Gold Standard some forty years ago.
John Maynard Keynes, perhaps the single most influential economist
of the 20th century, said that, "by a continuing process of inflation,
governments can confiscate, secretly and unobserved, an important part
of the wealth of their citizens."