Greenspan admits Gold Canary in Coal Mine - Fiat Money going to Gold, to CFR yesterday

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metalsinvestor's picture
metalsinvestor
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Greenspan admits Gold Canary in Coal Mine - Fiat Money going to Gold, to CFR yesterday

Alan Greenspan, former chair of the Federal Reserve admitted yesterday to the CFR when asked about gold rising and why, that it is the Canary in the Coal mine and Fiat money is going to gold.  He also admitted gold is different from other commodities.

 

http://www.nysun.com/editorials/greenspans-warning-on-gold/87080

 

Alan Greenspan spoke at the Council on Foreign Relations earlier today, and what was his advice? That central bankers should be doing what these columns, among others, have been rattling on about, namely that they should be paying attention to gold. “Fiat money has no place to go but gold,” the former Fed chairman said at the Council

Said the former Fed chairman: “If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.”

 

Jager06's picture
Jager06
Status: Gold Member (Offline)
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Re: Greenspan admits Gold Canary in Coal Mine - Fiat Money ...

This will eventually lead to war. I think Marc Faber may have been right all along.

Destruction of currencies leads to war.

So that leaves us with the odds of the war being a series of civil wars, confined to nations who have found themselves socio economically cooked, or....Do nations point the finger at each other until the populations become enraged and global war breaks out?

Full Moon's picture
Full Moon
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Posts: 1258
Re: Greenspan admits Gold Canary in Coal Mine - Fiat Money ...

Or  more frightening ... all fingers point to  ONE ?

SagerXX's picture
SagerXX
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Joined: Feb 11 2009
Posts: 2252
Re: Greenspan admits Gold Canary in Coal Mine - Fiat Money ...
Jager06 wrote:

So that leaves us with the odds of the war being a series of civil wars, confined to nations who have found themselves socio economically cooked, or....Do nations point the finger at each other until the populations become enraged and global war breaks out?

I'm thinking resource war.  As in "How did those damn Venezuelans end up living on top of *OUR* oil?!!!!"

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