And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPANHistory has not dealt kindly with the aftermath of protracted periods of low risk premiums.
More Alan Greenspan Quotes
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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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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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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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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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The free lunch has still to be invented.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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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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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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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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The worst have failed; investors no longer fund them and are not likely to in the future.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
ALAN GREENSPAN