I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
ALAN GREENSPANRemember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
More Alan Greenspan Quotes
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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How do we know when irrational exuberance has unduly escalated asset values?
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPAN