'Chairman Alan Greenspan said Wednesday that the Fed’s bond-buying program, which aimed to lower unemployment and spur stronger economic growth, fell short of its goals.
Mr. Greenspan’s comments to the Council on Foreign Relations came as Fed officials were meeting in Washington, D.C., and expected to announce within hours an end to the bond purchases.
He said the bond-buying program was ultimately a mixed bag. He said that the purchases of Treasury and mortgage-backed securities did help lift asset prices and lower borrowing costs. But it didn’t do much for the real economy.
“Effective demand is dead in the water” and the effort to boost it via bond buying “has not worked,” said Mr. Greenspan. Boosting asset prices, however, has been “a terrific success.”
'Mr. Greenspan said gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments.'
Former Fed Chief Greenspan Worried About Future of Monetary Policy - WSJ - WSJ
So, once again, the Fed's QE programs helped it's Wall Street buddies but does little for the rest of the country...no sh!t.
Also, if a former Fed chairperson is saying gold is a good investment, you can be fairly sure (imo) that he/she is not completely gaga about the economic future.