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Gold, by Alan Greenspan

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From the Archives : Originally published August 15th, 2017

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FOLLOW : Alan Greenspan Commodity Currencies Currency Fed Gold Greenspan Silver World World Gold Council

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Category : Gold University

Those are the words of former Fed Chairman Alan Greenspan, speaking to the World Gold Council for the 2017 winter edition of its Gold Investor publication.

�It is the only currency, along with silver, that does not require a counterparty signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counterparty. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC.�

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