It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
ALAN GREENSPANNo one has ever eliminated any of that stuff.
More Alan Greenspan Quotes
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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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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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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No one has ever eliminated any of that stuff.
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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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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Revolutions are something you see only in retrospect.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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Credit-default swaps, I think, have serious problems associated with them.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN