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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

Alan Greenspan

We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
ALAN GREENSPAN

Asset Banker Bubble Central Collapse Concern Do Economy Financial Threaten
There are no easy choices. Easy choices are long gone.
ALAN GREENSPAN

Choice Easy Gone Long No
Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPAN

Borrow Down Equity Historical Payment Significant Some Unusual Wipe
I have long argued that paying down the national debt is beneficial for the economy.
ALAN GREENSPAN

Beneficial Debt Down Economy Long National Pay
We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPAN

Necessary Out Policy Preëmptive Rule Situation Tight
The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPAN

Chosen Customer Effective Elsewhere Investor Propensity Skill Technical
American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
ALAN GREENSPAN

Country Economy Function Harbor Violence World
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
ALAN GREENSPAN

Asset Escalate Exuberance Irrational Unduly Value
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN

Derivate Negotiate Privately Profession Regulation Transaction
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
ALAN GREENSPAN

Always Debt Default Money Print Probability States United
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.
ALAN GREENSPAN

Group Minute Pleasantries Political Rhetoric Security Solve
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 GREENSPAN

Bitcoin Blue Bubble Imagination Intrinsic Really Stretch
It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
ALAN GREENSPAN

Function Human Keep Minimum Nature Regrettably Successful
It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
ALAN GREENSPAN

Anything Deteriorate Escape Fiat Money Perceive Seem
Then fear hits, and it comes down very sharply. When I started to look at that.
ALAN GREENSPAN

Come Down Fear Hit Look Sharply Start That
It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
ALAN GREENSPAN

Competency Experience Foundation Manipulation Mathematics Numerical Understand

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

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