The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
ALAN GREENSPANIf you think you understand what I am saying you do not understand what I am saying.
More Alan Greenspan Quotes
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If I say something which you understand fully in this regard, I probably made a mistake.
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Gold still represents the ultimate form of payment in the world.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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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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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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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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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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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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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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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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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
ALAN GREENSPAN






