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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.

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Commodity Currency Demand God Gold Jewelry Thrust Unlike

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
ALAN GREENSPAN

Aspect Bank Change Economy Ever Give Incomplete Inevitably Knowledge Outcome Particular Sometimes Structural
But material success is possible in this world and far more satisfying when it comes without exploiting others.
ALAN GREENSPAN

Come Exploit Material Other Possible Satisfy Success
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Elegance Feel Generation Gut Important Mathematical More Old Trader Year
Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
ALAN GREENSPAN

Accurate Everyone Exist Ideology Need Question
I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Deny Monoply Nature Need Readily Resolve Terrible Thing
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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Asset Clearly Earning Higher Imply Inflation Less Lower Premium Risk Stock Sustain
They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPAN

Alternative Benefit Choice Judgement Policy Probability
The tub helps me relax, and it’s a great place to read.
ALAN GREENSPAN

Great Help Place Read Tub
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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Country Crise Current End Financial Most Retrospect Since War Wrench
They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPAN

Economic Freedom Gold Inseparable See Sense
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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Detective Economy Fact Follow Love Piece Story Together
At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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Capital Composition Force Meshed Need Oversimplification Risk Skill Stock Work
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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Capitalism Condition Crony Essentially Favour Private Public
The worst have failed; investors no longer fund them and are not likely to in the future.
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Fail Future Investor Likely Longer Worst
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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Decade Development During Event Expansion Extraordinary Far Finance Most Significant
The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Failure Finance Leverage Nature Significantly Unless Very

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