Productivity is notoriously difficult to predict.
ALAN GREENSPANFiat money in extremis is accepted by nobody. Gold is always accepted.
More Alan Greenspan Quotes
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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No one has ever eliminated any of that stuff.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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And she always has so much fun doing it. We make a good team.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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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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As long as we issue fiat currency, I see no alternative to a legal tender law.
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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