If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPANWe can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
More Alan Greenspan Quotes
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And the percentage changes in wage rates would be the same for all job grades.
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The need for values is inbred. Their content is not.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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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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I have long argued that paying down the national debt is beneficial for the economy.
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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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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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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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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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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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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN