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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.

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Cold Currency Down Gold Mine Move Question Relative Together

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
ALAN GREENSPAN

Distortion Economy Experience Imbalance Local National Price Seem Severe Significant
If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPAN

Antagonism Difficulty Gold Grasp Standard Statistic Understanding
It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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Constrain Contract Derivate Financial Innovative Newer Seem Some Superfluous Trade
Political decisions are never random and will always lose out to innovative alternatives.
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Alternative Decision Innovative Lose Political Random
Productivity is notoriously difficult to predict.
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Difficult Notorious Predict Productivity
The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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Business Competitive Economy Force Mark More Period Productive Recent Technology Transformation
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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Absence Confiscation Good Inflation Protect Saving Standard
The guiding purpose of the government regulator is to prevent rather than to create something.
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Create Government Guild Prevent Purpose Rather Regulation Something
Fiat money in extremis is accepted by nobody. Gold is always accepted.
ALAN GREENSPAN

Accept Extremis Fiat God Money Nobody
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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Earning Exhibited Inflation Inverse Past Price Ratio Relationship See
The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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Ability Correct Economy Flexible Greater Inevitable More Response Self Unanticipated
I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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Acknowledge Everyone Inconvenient Know Oil Political Saddened
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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Against Always Any Believe Fraud Law Need Probably
All taxes are a drag on economic growth. It’s only a question of degree.
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Degree Drag Economic Growth Only Question Tax
If you think you understand what I am saying you do not understand what I am saying.
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Say Think Understand
Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
ALAN GREENSPAN

Ability Ambiguous Decision Dominate Enhance Financial Making Person Quantitative Relationship

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