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Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Way
Spending
Protector
Property
Insidious
Gold
Scheme
Wealth
Inflation
Simply
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Hidden
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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If you think you understand what I am saying you do not understand what I am saying.
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Revolutions are something you see only in retrospect.
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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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I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically -- I should say, fully -- hedged.
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Rules cannot take the place of character.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
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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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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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It's hard to overemphasize how important Ford's deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first. Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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When trust is lost, a nation's ability to transact business is palpably undermined.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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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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I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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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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