I’m a better economist than I was a sax player.
ALAN GREENSPANIn the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
More Alan Greenspan Quotes
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Senator, if I seem clear to you, you must have misunderstood me’.
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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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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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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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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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The tub helps me relax, and it’s a great place to read.
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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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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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What an ideology is is a conceptual framework with the way people deal with reality.
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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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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
ALAN GREENSPAN