Then fear hits, and it comes down very sharply. When I started to look at that.
ALAN GREENSPANCapitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
More Alan Greenspan Quotes
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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.
ALAN GREENSPAN -
We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
ALAN GREENSPAN -
Gold still represents the ultimate form of payment in the world.
ALAN GREENSPAN -
Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPAN -
So there is no reason to suspect that the actual process of boosting rates would be any different.
ALAN GREENSPAN -
Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPAN -
Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN -
I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN -
If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
ALAN GREENSPAN -
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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.
ALAN GREENSPAN -
We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPAN -
Senator, if I seem clear to you, you must have misunderstood me’.
ALAN GREENSPAN -
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.
ALAN GREENSPAN