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.
ALAN GREENSPANThe gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
More Alan Greenspan Quotes
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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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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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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Nor 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.
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If I say something which you understand fully in this regard, I probably made a mistake.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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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.
ALAN GREENSPAN