Quote

As long as we issue fiat currency, I see no alternative to a legal tender law.

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
Issues
Taxation
Law
Tender
Money
Alternative
Long
Currency
Legal
Alternatives
Economics
Issue
Fiat

More quotes by Alan Greenspan

Image
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.
Alan Greenspan
Image
The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
Alan Greenspan
Image
Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
Alan Greenspan
Image
Amateurs want to be right. Professionals want to make money.
Alan Greenspan
Image
If I say something which you understand fully in this regard, I probably made a mistake.
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
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 only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
Alan Greenspan
Image
I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
Alan Greenspan
Image
I'm a better economist than I was a sax player.
Alan Greenspan
Image
I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.
Alan Greenspan
Image
History cannot be reduced to a set of statistics and probabilities.
Alan Greenspan
Image
When trust is lost, a nation's ability to transact business is palpably undermined.
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
The guiding purpose of the government regulator is to prevent rather than to create something.
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
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
Alan Greenspan
Image
...our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
Alan Greenspan