In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
ALAN GREENSPANRevolutions are something you see only in retrospect.
More Alan Greenspan Quotes
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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 problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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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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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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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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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
ALAN GREENSPAN