They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPANRevolutions are something you see only in retrospect.
More Alan Greenspan Quotes
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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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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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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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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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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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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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Amateurs want to be right. Professionals want to make money.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN