In his 1967 paper titled "Gold and Economic Freedom" does Alan Greenspan make the case that "Deficit spending is simply a scheme for the confiscation of wealth"?
Is the claim valid, that earnings saved lose value and that this loss in value is due to deficit spending and credit expansion?
The PDF of the paper can be found here:
http://www.thefinancialpanner.com/wp-content/uploads/2009/11/AlanGreenspan-GoldEconomicFreedom.pdf
Argument for and against are welcome.
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)
https://youtu.be/eHgbRYgpGGs