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Quote by Alan Greenspan

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

Quote by Alan Greenspan

Author

Alan Greenspan, born on March 6, 1926, is an accomplished economist from the United States. He has made significant contributions to the field of economics and has had a profound impact on the global financial system as the Chairman of the Federal Reserve System. more

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“I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.”

Long Real Would Be Interest Economy Increase Rate Debt Productivity Income Finance Saving Beneficial Savings Interest Rate National Debt

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“I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.”

Realization Deficit Starks Surplus

Book:The Age of Turbulence: Adventures in a New World

Source: The Age of Turbulence: Adventures in a New World

“The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.”

Feels Years Important Genius Mathematical Guts Elegance Traders

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“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.”

Should Ready Gold Quantity Commodity Supplies Central Banks Derivatives Lease

Author:Alan Greenspan

“American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.”

Ifs Might Greater Products Benefits Rate Traditional Alternatives Consumers Fixed Mortgage Lenders

Author:Alan Greenspan

“Life stands before me like an eternal spring with new and brilliant clothes.”

Eternal Clothes Spring Brilliant Spring Poems Early Spring Fancy Clothes Dirty Clothes

Author:Carl Friedrich Gauss

“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.”

Ifs Political Used Social Groups Minutes Security Solve Rhetoric Social Security Pleasantries Political Rhetoric

Author:Alan Greenspan

“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.”

Years Firsts Important Hard Creative Stage Example Benefits Destruction Rate Wave Enormous Rail Deregulation Creative Destruction

Book:The Age of Turbulence: Adventures in a New World

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“In general, corruption tends to exist whenever governments have favors to extend, or something to sell.”

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Book:The Age of Turbulence: Adventures in a New World

Source: The Age of Turbulence: Adventures in a New World

“The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.”

Ends Millions Successful Ten Percent Investors Probability Coins Consecutive Tossers

Book:The Age of Turbulence: Adventures in a New World

Source: The Age of Turbulence: Adventures in a New World