We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPANAny informed borrower is simply less vulnerable to fraud and abuse.
More Alan Greenspan Quotes
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The Iraq War is largely about oil.
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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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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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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 I seem unduly clear to you, you must have misunderstood what I said.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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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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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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Gold still represents the ultimate form of payment in the world.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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Senator, if I seem clear to you, you must have misunderstood me’.
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Credit-default swaps, I think, have serious problems associated with them.
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The process of innovation is, of course, never ending.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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 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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Revolutions are something you see only in retrospect.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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The need for values is inbred. Their content is not.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN