The Iraq War is largely about oil.
ALAN GREENSPAN…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
More Alan Greenspan Quotes
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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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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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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.
ALAN GREENSPAN -
We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
ALAN GREENSPAN -
Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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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.
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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.
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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.
ALAN GREENSPAN -
Gold stands in the way of this insidious process. It stands as a protector of property rights.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
ALAN GREENSPAN