History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANThen fear hits, and it comes down very sharply. When I started to look at that.
More Alan Greenspan Quotes
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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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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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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The free lunch has still to be invented.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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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 have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
ALAN GREENSPAN