“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.” – Alan Greenspan
About Me
I'm a professional engineer working in the software industry based currently out of Toronto, Canada. If I'm not writing code, you might find me on the hockey rink or reading the NY Times over coffee.
I have recently started to plan a trip around the world with my wife, Susana, putting my software development career on hold while I grow and learn in other ways beyond the keyboard. 