Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
ALAN GREENSPANWithout calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
More Alan Greenspan Quotes
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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There are no easy choices. Easy choices are long gone.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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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Derivatives have permitted the unbundling of financial risks.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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Market financed withdrawals of home equity in recent years.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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Whatever you tax you get less of.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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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.
ALAN GREENSPAN