Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPANGold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
More Alan Greenspan Quotes
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If I seem unduly clear to you, you must have misunderstood what I said.
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There are no easy choices. Easy choices are long gone.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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The tub helps me relax, and it’s a great place to read.
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The free lunch has still to be invented.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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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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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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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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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Indeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPAN