It was probably a mistake to allow gold to rise so high.

That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.

I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.

What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life.

I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence.

The only thing useful banks have invented in 20 years is the ATM.

A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate.