Comment: Alan Greenspan

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Alan Greenspan

I always thought of him as what would have happened if John Galt, captured by his enemies, had "sold out" and gone to work for President Thompson.

As far as I know, Ayn Rand never had a kind word to say about the Federal Reserve or Keynesian economics, and had only contempt for "those paper notes that should have been gold." Seriously, read this passage again, and try to conceive of a more absolute condemnation of paper money or a "Federal Reserve" that prints it: "Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims."

Greenspan was one of the first to leave Rand's "inner circle" -- for good reason. He really did betray his free market principles.

Recommended reading: The Most Dangerous Superstition by Larken Rose