This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANGold stands in the way of this insidious process. It stands as a protector of property rights.
More Alan Greenspan Quotes
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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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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Credit-default swaps, I think, have serious problems associated with them.
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There is no evidence that the business cycle has been repealed.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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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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And she always has so much fun doing it. We make a good team.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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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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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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If I’ve made myself clear, I’ve misspoken.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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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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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
ALAN GREENSPAN