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.
ALAN GREENSPANCapitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
More Alan Greenspan Quotes
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Gold still represents the ultimate form of payment in the world.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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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.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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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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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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The tub helps me relax, and it’s a great place to read.
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Credit-default swaps, I think, have serious problems associated with them.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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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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I’m a plain soap kind of guy.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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Rules cannot take the place of character.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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There is no evidence that the business cycle has been repealed.
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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.
ALAN GREENSPAN