That’s just the most well known. Here are some more recent comments from him. For example, this exchange with Ron Paul at a Congressional hearing in 1998:
Mr. GREENSPAN. I think you have to define what you mean by a ‘‘free market.’’ If you have a fiat currency, which is what everyone has in the world–
Dr. PAUL. That is not free market.
Mr. GREENSPAN. That is not free market. Central banks, of necessity, determine what the money supply is. If you are on a gold standard or other mechanism in which the central banks do not have discretion, then the system works automatically.
The reason there is very little support for the gold standard is the consequences of those types of market adjustments are not considered to be appropriate in the 20th and 21st century. I am one of the rare people who have still some nostalgic view about the old gold standard, as you know, but I must tell you, I am in a very small minority among my colleagues on that issue.So, he admits to being one of the few who support the idea, but that alone has never invalidated any argument.
As recently as 2004, he has also commented:
Mr. GREENSPAN. Well, Congressman, you are raising the more fundamental question as to being on a commodity standard or another standard. And this issue has been debated, as you know as well as I, extensively for a significant period of time.
Once you decide that a commodity standard such as the gold standard is, for whatever reasons, not acceptable in a society and you go to a fiat currency, then the question is automatically, unless you have Government endeavoring to determine the supply of the currency, it is very difficult to create what effectively the gold standard did.
I think you will find, as I have indicated to you before, that most effective central banks in this fiat money period tend to be successful largely because we tend to replicate which would probably have occurred under a commodity standard in general.And in pretty much every case, his defense of a central bank is that it functions to emulate a gold standard.