The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
ALAN GREENSPANDerivatives have permitted the unbundling of financial risks.
More Alan Greenspan Quotes
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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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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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Revolutions are something you see only in retrospect.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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If I say something which you understand fully in this regard, I probably made a mistake.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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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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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
ALAN GREENSPAN