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.
ALAN GREENSPANRegulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
More Alan Greenspan Quotes
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Greenspan, who knew so much more than most, knew far less than most supposed.
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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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The number one problem in today’s generation and economy is the lack of financial literacy.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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The need for values is inbred. Their content is not.
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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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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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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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History cannot be reduced to a set of statistics and probabilities.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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All taxes are a drag on economic growth. It’s only a question of degree.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
ALAN GREENSPAN