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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

All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPAN

Degree Drag Economic Growth Only Question Tax
There is no evidence that the business cycle has been repealed.
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Business Cycle Evidence Repeat
I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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Bank Equity Especially Interest Mistake Organisation Presume Self Share
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.
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Better Built Decade Example Financial Market Mousetrap People
Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
ALAN GREENSPAN

Accurate Everyone Exist Ideology Need Question
We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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Benefit Cash Guarantee Like Power Purchase
It signals problems with respect to currency markets. Central banks should pay attention to it.
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Attention Bank Central Currency Market Problem Respect Signal
If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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Group Minute Pleasantries Political Rhetoric Security Solve
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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Abandonment Banking Credit Gold Made Possible Standard Statics System Use Welfare
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
The free lunch has still to be invented.
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Free Invent Lunch Still
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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Chosen Customer Effective Elsewhere Investor Propensity Skill Technical
If I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPAN

Clear Misunderstood Must Said Seen Unduly
The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Account Awesome Enough Large Made Mistake Number
Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPAN

Alternative Decision Innovative Lose Political Random
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

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