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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…

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Confront Expectation Frightened Lack Problem Regulation Unrealistic

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

But rules cannot substitute for character.
ALAN GREENSPAN

Character Rule Substitute
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
ALAN GREENSPAN

Characteristics Corruption Embezzlement Everywhere Exist Regrettably
I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Adherence Business Deal Gain Honest Honesty Satisfaction Strict Success
The number one problem in today’s generation and economy is the lack of financial literacy.
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Economy Financial Generation Lack Literacy Number Problem Today
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.
ALAN GREENSPAN

Hesitate Issue Other Some Table Throw
No one has ever eliminated any of that stuff.
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Eliminate No One Stuff
If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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Antagonism Difficulty Gold Grasp Standard Statistic Understanding
I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPAN

Clear Guess Out Particular Turn Warn You
Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
ALAN GREENSPAN

Among Configuration Market Occasionally Price Priest Some Succeed
Whatever you tax you get less of.
ALAN GREENSPAN

Economy Less Tax
The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
ALAN GREENSPAN

Better Change Come Credit Difficult Economy Extend Find Firm Lag Need Number Small Turn
The guiding purpose of the government regulator is to prevent rather than to create something.
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Create Government Guild Prevent Purpose Rather Regulation Something
Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Gold Insidious Process Properly Right Stand
If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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Cold Currency Down Gold Mine Move Question Relative Together
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
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

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