“I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.”

I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.

But rules cannot substitute for character.

Revolutions are something you see only in retrospect.

When trust is lost, a nation’s ability to transact business is palpably undermined.

It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.

The number one problem in today’s generation and economy is the lack of financial literacy.

I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.

Any informed borrower is simply less vulnerable to fraud and abuse.

The free lunch has still to be invented.

Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.

The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.

Since I’ve become a central banker, I’ve learned to mumble with great incoherence.

I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.

History cannot be reduced to a set of statistics and probabilities.

Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.

The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.

If you don’t acknowledge differences, it’s as bad as stereotyping or reducing someone.

Of two friends, one is always the slave of the other, although frequently neither acknowledges the fact to himself.

To show resentment at a reproach is to acknowledge that one may have deserved it.

It is time to search out your uniqueness, applaud and acknowledge yourself, and let your own light shine.

You are designed to reinvent and re-create yourself, over and over again. And, you are here-whether you want to acknowledge it or not; whether you even know it or not-for the evolution of your own soul.

The age of every man shall be acknowledged before him in Heaven, and every man shall be rewarded for his willing service and for his time.

Maturity is willing to acknowledge what you are willing to shift, learn or give to create the kind of relationship you want.

Shame, blame, disrespect, betrayal, and the withholding of affection damage the roots from which love grows. Love can only survive these injuries if they are acknowledged, healed and rare.