Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
ALAN GREENSPANThose of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
More Alan Greenspan Quotes
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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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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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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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…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.
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They seem to sense… that gold and economic freedom are inseparable.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Productivity is notoriously difficult to predict.
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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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I have long argued that paying down the national debt is beneficial for the economy.
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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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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Derivatives have permitted the unbundling of financial risks.
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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.
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Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPAN