Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
ALAN GREENSPANIt 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.
More Alan Greenspan Quotes
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Gold still represents the ultimate form of payment in the world.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Rules cannot take the place of character.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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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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 love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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And the percentage changes in wage rates would be the same for all job grades.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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 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.
ALAN GREENSPAN