http://www.usagold.com/gildedopinion/Greenspan.html 

Gold and Economic Freedom
by Alan Greenspan

[Editor's note - It may surprise more than a few gold devotees to learn they have an ideological friend in none other than Federal Reserve Board chairman Alan Greenspan. Starting in the 1950s, in fact, Greenspan was a stalwart member of Ayn Rand's intellectual inner circle. A self-designated "objectivist", Rand preached a strongly libertarian view, applying it to politics and economics, as well as to religion and popular culture. Under her influence, Greenspan wrote for the first issue of what was to become the widely-circulated Objectivist Newsletter. When Gerald Ford appointed him to the Council of Economic Advisors, Greenspan invited Rand to his swearing-in ceremony. He even attended her funeral in 1982.

In 1967, Rand published her non-fiction book, Capitalism, the Unknown Ideal. In it, she included Gold and Economic Freedom, the essay by Alan Greenspan which appears below. Drawing heavily from Murray Rothbard's much longer The Mystery of Banking, Greenspan argues persuasively in favor of a gold standard and against the concept of a central bank.

Can this be the same Alan Greenspan who today chairs the most important central bank of them all? Again, you might be surprised. R.W. Bradford writes in Liberty magazine that, as Fed chairman, "Greenspan (once) recommended to a Senate committee that all economic regulations should have fixed lifespans. Senator Paul Sarbanes (D-Md.) accused him of 'playing with fire, or indeed throwing gasoline on the fire,' and asked him whether he favored a similar provision in the Fed's authorization. Greenspan coolly answered that he did. Do you actually mean, demanded the Senator, that the Fed 'should cease to function unless affirmatively continued?' 'That is correct, sir,' Greenspan responded."

Bradford continues, "The Senator could scarcely believe his ears. 'Now my next question is, is it your intention that the report of this hearing should be that Greenspan recommends a return to the gold standard?' Greenspan responded, 'I've been recommending that for years, there's nothing new about that. It would probably mean there is only one vote in the Federal Open Market Committee for that, but it is mine.'"
-- Editor, The Gilded Opinion ]

See http://www.usagold.com/gildedopinion/Greenspan.html for Greenspan's article entitled "Gold and Economic Freedom".

http://www.democracynow.org/article.pl?sid=03/12/03/1552200 

http://edition.cnn.com/2003/WORLD/europe/12/03/italy.media.law.reut/ 
[Full article]

Italians Protest New Media Ownership Laws

In Rome, demonstrations are planned for today t o protest a new law that would allow Prime Minister Silvio Berlusconi to strengthen his media empire. Several provisions of the law are expected to greatly benefit the prime minister who is the country's richest man and leading media mogul. The law will lift a ban on cross-ownership of broadcast and print media. The law will also reverse a court ruling that would have forced Berlusconi to sell off one his three national TV stations.

http://www.truthout.org/docs_03/111403E.shtml 

'Our Democracy is in Danger of Being Paralyzed'

Keynote Address to the National Conference on Media Reform By Bill Moyers Saturday 08 November 2003

... snip ...
Yet today, despite plenty of lip service on every ritual occasion to freedom of the press radio and TV, three powerful forces are undermining that very freedom, damming the streams of significant public interest news that irrigate and nourish the flowering of self-determination. The first of these is the centuries-old reluctance of governments - even elected governments - to operate in the sunshine of disclosure and criticism. The second is more subtle and more recent. It's the tendency of media giants, operating on big-business principles, to exalt commercial values at the expense of democratic value. That is, to run what Edward R. Murrow forty-five years ago called broadcasting's "money-making machine" at full throttle. In so doing they are squeezing out the journalism that tries to get as close as possible to the verifiable truth; they are isolating serious coverage of public affairs into ever-dwindling "news holes" or far from prime- time; and they are gobbling up small and independent publications competing for the attention of the American people.

It's hardly a new or surprising story. But there are fresh and disturbing chapters.

In earlier times our governing bodies tried to squelch journalistic freedom with the blunt instruments of the law - padlocks for the presses and jail cells for outspoken editors and writers. Over time, with spectacular wartime exceptions, the courts and the Constitution struck those weapons out of their hands. But they've found new ones now, in the name of "national security." The classifier's Top Secret stamp, used indiscriminately, is as potent a silencer as a writ of arrest. And beyond what is officially labeled "secret" there hovers a culture of sealed official lips, opened only to favored media insiders: of government by leak and innuendo and spin, of misnamed "public information" offices that churn out blizzards of releases filled with self-justifying exaggerations and, occasionally, just plain damned lies. Censorship without officially appointed censors.

Add to that the censorship-by-omission of consolidated media empires digesting the bones of swallowed independents, and you've got a major shrinkage of the crucial information that thinking citizens can act upon. People saw that coming as long as a century ago when the rise of chain newspaper ownerships, and then of concentration in the young radio industry, became apparent. And so in the zesty progressivism of early New Deal days, the Federal Communications Act of 1934 was passed (more on this later.) The aim of that cornerstone of broadcast policy, mentioned over 100 times in its pages, was to promote the "public interest, convenience and necessity." The clear intent was to prevent a monopoly of commercial values from overwhelming democratic values - to assure that the official view of reality - corporate or government - was not the only view of reality that reached the people. Regulators and regulated, media and government were to keep a wary eye on each other, preserving those checks and balances that is the bulwark of our Constitutional order.

What would happen, however, if the contending giants of big government and big publishing and broadcasting ever joined hands? Ever saw eye to eye in putting the public's need for news second to free-market economics? That's exactly what's happening now under the ideological banner of "deregulation." Giant megamedia conglomerates that our founders could not possibly have envisioned are finding common cause with an imperial state in a betrothal certain to produce not the sons and daughters of liberty but the very kind of bastards that issued from the old arranged marriage of church and state.

Consider where we are today.

Never has there been an administration so disciplined in secrecy, so precisely in lockstep in keeping information from the people at large and - in defiance of the Constitution - from their representatives in Congress. Never has the so powerful a media oligopoly - the word is Barry Diller's, not mine - been so unabashed in reaching like Caesar for still more wealth and power. Never have hand and glove fitted together so comfortably to manipulate free political debate, sow contempt for the idea of government itself, and trivialize the people's need to know. When the journalist-historian Richard Reeves was once asked by a college student to define "real news", he answered: "The news you and I need to keep our freedoms." When journalism throws in with power that's the first news marched by censors to the guillotine. The greatest moments in the history of the press came not when journalists made common cause with the state but when they stood fearlessly independent of it.

Which brings me to the third powerful force - beyond governmental secrecy and megamedia conglomerates - that is shaping what Americans see, read, and hear. I am talking now about that quasi-official partisan press ideologically linked to an authoritarian administration that in turn is the ally and agent of the most powerful interests in the world. This convergence dominates the marketplace of political ideas today in a phenomenon unique in our history. You need not harbor the notion of a vast, right wing conspiracy to think this more collusion more than pure coincidence. Conspiracy is unnecessary when ideology hungers for power and its many adherents swarm of their own accord to the same pot of honey. Stretching from the editorial pages of the Wall Street Journal to the faux news of Rupert Murdoch's empire to the nattering nabobs of no-nothing radio to a legion of think tanks paid for and bought by conglomerates - the religious, partisan and corporate right have raised a mighty megaphone for sectarian, economic, and political forces that aim to transform the egalitarian and democratic ideals embodied in our founding documents. Authoritarianism. With no strong opposition party to challenge such triumphalist hegemony, it is left to journalism to be democracy's best friend. That is why so many journalists joined with you in questioning Michael Powell's bid - blessed by the White House - to permit further concentration of media ownership. If free and independent journalism committed to telling the truth without fear or favor is suffocated, the oxygen goes out of democracy. And there is a surer way to intimidate and then silence mainstream journalism than to be the boss.

If you doubt me, read Jane Kramer's chilling account in the current New Yorker of Silvio Berlusconi. The Prime Minister of Italy is its richest citizen. He is also its first media mogul. The list of media that he or his relatives or his proxies own, or directly or indirectly control, includes the state television networks and radio stations, three of Italy's four commercial television networks, two big publishing houses, two national newspapers, fifty magazines, the country's largest movie production-and-distribution company, and a chunk of its Internet services. Even now he is pressing upon parliament a law that would enable him to purchase more media properties, including the most influential paper in the country. Kramer quotes one critic who says that half the reporters in Italy work for Berlusconi, and the other half think they might have to. Small wonder he has managed to put the Italian State to work to guarantee his fortune - or that his name is commonly attached to such unpleasant things as contempt for the law, conflict of interest, bribery, and money laundering. Nonetheless, "his power over what other Italians see, read, buy, and, above all, think, is overwhelming." The editor of The Economist, Bill Emmott, was asked recently why a British magazine was devoting so much space to an Italian Prime Minister. He replied that Berlusconi had betrayed the two things the magazine stood for: capitalism and democracy. Can it happen here? It can happen here. By the way, Berlusconi's close friend is Rupert Murdoch [Fox News]. On July 3lst this year, writes Jane Kramer, programming on nearly all the satellite hookups in Italy was switched automatically to Murdoch's Sky Italia. ... snip ...