As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPANExcessive optimism sows the seeds of its own reversal.
More Alan Greenspan Quotes
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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If I’ve made myself clear, I’ve misspoken.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
ALAN GREENSPAN