If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPANIn the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
More Alan Greenspan Quotes
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Anything that we can do to raise personal savings is very much in the interest of this country.
ALAN GREENSPAN -
I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Whatever you tax you get less of.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Excessive optimism sows the seeds of its own reversal.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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The Iraq War is largely about oil.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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They seem to sense… that gold and economic freedom are inseparable.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
ALAN GREENSPAN