Comment: Greenspan - is exactly wrong. On purpose even!

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Greenspan - is exactly wrong. On purpose even!

Don't get me wrong, I'm for the use of commodity money.

But bankers first seized control by monopolizing it, particular gold, inflating receipts for gold held in vaults beyond what was there, debasing coins, shaving off coins, passing laws to seize it, hoard it, or require it's use, etc.

In a free market, when one commodity gets too expensive, ie because someone is hording gold and manipuling prices,the free market chooses something else just as good - for instance silver. Other alternative currencies, etc. The market participants choose by the nature of the markets, not fiat demand on what to use on high.

Greenspan is exactly wrong. Wanting to use just gold is not how free markets operate. And he knows it. Always has.

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