It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
ALAN GREENSPANI 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.
More Alan Greenspan Quotes
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Derivatives have permitted the unbundling of financial risks.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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If I say something which you understand fully in this regard, I probably made a mistake.
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Capitalism 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.
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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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The tub helps me relax, and it’s a great place to read.
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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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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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I’m a better economist than I was a sax player.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPAN