In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
ALAN GREENSPANI am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
More Alan Greenspan Quotes
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Market financed withdrawals of home equity in recent years.
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And the percentage changes in wage rates would be the same for all job grades.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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Credit-default swaps, I think, have serious problems associated with them.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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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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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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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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The need for values is inbred. Their content is not.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
ALAN GREENSPAN