Quote

Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted.

Alan Greenspan

Change background

T
T
T

Change font

TAGS & TOPICS

Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Always
Accepted
World
Gold
Ultimate
Nobody
Money
Extremis
Form
Fiat
Stills
Payment
Still
Represents

More quotes by Alan Greenspan

Image
The free lunch has still to be invented.
Alan Greenspan
Image
Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...
Alan Greenspan
Image
It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
Alan Greenspan
Image
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.
Alan Greenspan
Image
I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others.
Alan Greenspan
Image
We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
Alan Greenspan
Image
Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
Alan Greenspan
Image
Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
Alan Greenspan
Image
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.
Alan Greenspan
Image
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
Alan Greenspan
Image
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.
Alan Greenspan
Image
I'm always amazed that my wife can handle different subjects - one day politics, the next day foreign policy. And she always has so much fun doing it. We make a good team.
Alan Greenspan
Image
Amateurs want to be right. Professionals want to make money.
Alan Greenspan
Image
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.
Alan Greenspan
Image
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
Alan Greenspan
Image
Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
Alan Greenspan
Image
How do we know when irrational exuberance has unduly escalated asset values?
Alan Greenspan
Image
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.
Alan Greenspan
Image
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.
Alan Greenspan
Image
I love facts and figures. It's like following a detective story, piecing together what's going on in the economy.
Alan Greenspan