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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.

Alan Greenspan

Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPAN

Alternative Decision Innovative Lose Political Random
The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPAN

Chosen Customer Effective Elsewhere Investor Propensity Skill Technical
The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPAN

Equally High Income People Drive Those Workers
Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN

Far Greenspan Knew Less More Most Suppose
Amateurs want to be right. Professionals want to make money.
ALAN GREENSPAN

Amateur Money Professional Right
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
ALAN GREENSPAN

Already Economic Evidence Expansion Increasingly Influence Recent Suggest Underway Well
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.
ALAN GREENSPAN

Capital Composition Force Meshed Need Oversimplification Risk Skill Stock Work
I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
ALAN GREENSPAN

Animosity Between Descriptive E Even Government More Out Since Street Suspect Type Wall
This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
ALAN GREENSPAN

Better Built Decade Example Financial Market Mousetrap People
It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
ALAN GREENSPAN

Anything Deteriorate Escape Fiat Money Perceive Seem
Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
ALAN GREENSPAN

Confiscation Deficit Hide Scheme Simply Spend Wealth
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…
ALAN GREENSPAN

Application Approach Derivative Grow More Relate Sophisticate Use
Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
ALAN GREENSPAN

Crisis Finance Global Institution Neve Participant Recent Run Short Test Underscore Until
While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
ALAN GREENSPAN

Distortion Economy Experience Imbalance Local National Price Seem Severe Significant
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.
ALAN GREENSPAN

Gold Governor Happen Little Market Question Raise Treasury
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.
ALAN GREENSPAN

Country Crise Current End Financial Most Retrospect Since War Wrench

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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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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Popular Authors

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