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Blog posts tagged with 'Alan Greenspan'

Alan Greenspan Suggests Buying Gold

With gold and silver prices dipping lately, now is the perfect time to buy and former Fed chairman Alan Greenspan agrees. Despite the recent dip in prices, Greenspan is recommending gold as an investment. Not usually known for being a gold bug, the former Fed chairman's comments may come as a surprise. He mentions that the time and conditions are right for buying and presented this case to the Council on Foreign Relations the same day as the announcement by the Federal Open Market Committee that the years long quantitative easing program will be coming to an end.

Some have expressed concern this may bolster the price of the dollar and negatively impact metals even more, but Greenspan argued that gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments. Greenspan also disagreed with the quantitative easing policy of the current Fed saying it, "Failed to achieve its primary goals". Gold is also still being purchased by central banks and governments worldwide as evidenced by China in a report earlier this year. China and other countries are not pleased with the dollar's world reserve currency status and though the ceasing of quantitative easing may strenghten the currency temporarily, long term the dollar still faces some serious challenges.

You can view Greenspan's comments in the video below.