Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPANCash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
More Alan Greenspan Quotes
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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.
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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’.
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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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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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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.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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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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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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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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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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If I seem unduly clear to you, you must have misunderstood what I said.
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Excessive optimism sows the seeds of its own reversal.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
ALAN GREENSPAN