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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
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New York City
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More quotes by Alan Greenspan

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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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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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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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If I've made myself clear, I've misspoken.
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I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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When trust is lost, a nation's ability to transact business is palpably undermined.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
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Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
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The process of innovation is, of course, never ending.
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