Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. I felt that sooner or later the market had to break. The Federal Reserve Bank is nothing but a banking fraud and an unlawful crime against civilization. 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.
Deficit spending is simply a scheme for the 'hidden' confiscation of wealth.
Gold stands in the way of this insidious process. It stands as a protector of property rights. Alan Greenspan in an article he wrote in 1966.