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

What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPAN

Conceptual Del Framework Ideology People Reality
Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Creative Destructive Enormous Stage List Yet
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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Already Economic Evidence Expansion Increasingly Influence Recent Suggest Underway Well
I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Absolute Believe Fact Figure Moral Otherwise Proposition
You can’t have the capitalist system if an increasing number of people think it is unjust.
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Capitalist Increase Number People System Unjust
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.
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Another Commodity Counterparty Derivative Gold Often Private Restrict Supply Trade
Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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Currency Dollar Evidence Gold Look Premier Remember Still
Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Able Archive Been Clarity Emotively Future Pre Regulator Require
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Always Debt Default Money Print Probability States United
Any informed borrower is simply less vulnerable to fraud and abuse.
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Abuse Borrower Fraud Inform Less Simply Vulnerable
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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Asset Banker Bubble Central Collapse Concern Do Economy Financial Threaten
Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Accept Extremis Fiat God Money Nobody
Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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Commodity Currency Demand God Gold Jewelry Thrust Unlike
Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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Accurate Everyone Exist Ideology Need Question
Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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Disbelief Institution Interest Lend Self Shareholder Shock

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