26 September 2007

A Shabby Secret

Alan Greenspan's book, The Age of Turbulence, reportedly has sold 129,000 copies in its first week. We haven't had a chance to read it, but remember reading his 1966 "Gold and Economic Freedom" as published in Ayn Rand's "Objectivist." As the saying today goes, he has moved on: "[Deficit spending] is the shabby secret of the welfare statists' tirades against gold ... simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
We are not Objectivists per se, but have read economics for decades. Alan's new book contains references to Rand, Objectivism, and freedom, but we would like to know what the converted Alan now labels his shabby, secretive statists, who continue to spend ever more even as the Treasury receives record tax receipts.

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