Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPANNor 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.
More Alan Greenspan Quotes
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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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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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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Amateurs want to be right. Professionals want to make money.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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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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No one has ever eliminated any of that stuff.
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The need for values is inbred. Their content is not.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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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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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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The guiding purpose of the government regulator is to prevent rather than to create something.
ALAN GREENSPAN