If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPANIf all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
More Alan Greenspan Quotes
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The need for values is inbred. Their content is not.
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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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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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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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And she always has so much fun doing it. We make a good team.
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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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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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There are no easy choices. Easy choices are long gone.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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And the percentage changes in wage rates would be the same for all job grades.
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Derivatives have permitted the unbundling of financial risks.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
ALAN GREENSPAN