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I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it's a government or an individual.

I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it's a government or an individual.


Alan Greenspan  Alan Greenspan
Tags: Confidence  Future  People  Saying  You 

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Author introduction

Alan Greenspan (/ˈælən ˈɡriːnspæn/; born March 6, 1926) is an American economist who served as Chair of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position (behind William McChesney Martin).[1]

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I was sort of shocked when it all of a sudden turned out that I got all A's through college, with the exception of two B's in the first term. I never envisaged myself as summa cum laude.

    Alan Greenspan  Alan Greenspan   
 Tags: College Myself Never First Two Got
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Manufacturing capacity is not a rigid level against which one bounces. When you are dealing with a world economy, with a flexibility to employ production facilities other than one's own, then the concept of capacity is vaguer.

    Alan Greenspan  Alan Greenspan   
 Tags: World You Manufacturing Flexibility
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The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.

    Alan Greenspan  Alan Greenspan   
 Tags: Focus Doing Inflation Keep Central
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Since 1948 I have spent every single day thinking how the economic and political worlds have changed.

    Alan Greenspan  Alan Greenspan   
 Tags: Day Thinking Political Single How
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There's no other job in public life that is like chairman of the Fed.

    Alan Greenspan  Alan Greenspan   
 Tags: Life Job Like Other Public Chairman
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Fear invariably and universally induces disengagement, and disengagement is negative division of labor.

    Alan Greenspan  Alan Greenspan   
 Tags: Fear Negative Labor Division
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Europe is very critical to the United States in the sense not only do we have a fourth of our exports there, but more importantly, a significant proportion of the foreign affiliate profits in fact, half of U.S. corporations, are in Europe.

    Alan Greenspan  Alan Greenspan   
 Tags: More Sense United States Fact Only
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What I see in the corporate sector is very clearly an issue of a major shortfall in the issue of, what some people call confidence, but whatever you want to call it. Clearly people are looking out in the very distant future and they are saying that it is too complex.

    Alan Greenspan  Alan Greenspan   
 Tags: Confidence Future People Saying You
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