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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
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking
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Whatever you tax you get less of.
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Credit-default swaps, I think, have serious problems associated with them.
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Well, you probably will always believe there should be laws against fraud, and I don't think there is any need for a law against fraud.
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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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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary, ... 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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Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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How do we know when irrational exuberance has unduly escalated asset values?
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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There is no evidence that the business cycle has been repealed.
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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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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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