Fiat money in extremis is accepted by nobody. Gold is always accepted.
ALAN GREENSPANIt’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.
More Alan Greenspan Quotes
-
-
I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN -
I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPAN -
Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
ALAN GREENSPAN -
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 -
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 -
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN -
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
ALAN GREENSPAN -
If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN -
Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPAN -
Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
ALAN GREENSPAN -
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN -
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
ALAN GREENSPAN -
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
ALAN GREENSPAN -
If I’ve made myself clear, I’ve misspoken.
ALAN GREENSPAN -
How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN