If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPANCorruption, embezzlement, fraud, these are all characteristics which exist everywhere.
More Alan Greenspan Quotes
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Excessive optimism sows the seeds of its own reversal.
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Political decisions are never random and will always lose out to innovative alternatives.
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I’m a better economist than I was a sax player.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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There are no easy choices. Easy choices are long gone.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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No one has ever eliminated any of that stuff.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
ALAN GREENSPAN