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 GREENSPANIf we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
More Alan Greenspan Quotes
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Anything that we can do to raise personal savings is very much in the interest of this country.
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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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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Political decisions are never random and will always lose out to innovative alternatives.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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And she always has so much fun doing it. We make a good team.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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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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Any informed borrower is simply less vulnerable to fraud and abuse.
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How do we know when irrational exuberance has unduly escalated asset values?
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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I’m a better economist than I was a sax player.
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Significantly opening up immigration to skilled workers solves two problems.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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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.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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The free lunch has still to be invented.
ALAN GREENSPAN