Greenspan’s Performance vs The Gold Standard
Jude Wanniski has written an excellent piece on Greenspan and the his position on the gold standard.
Yes, at first I was shocked to hear Greenspan say he did not see any circumstances that would require the dollar to be fixed to gold again, as it had been for most of our history until President Nixon floated the dollar in 1971. But then, Greenspan would have had to acknowledge the gold signal would have done a vastly superior job in managing the value of the dollar these past 18 years than he has done, and that is not the legacy he wishes to leave.