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" What would a loss of confidence in the dollar actually look like? Gold going absolutely nuts. "
Paul Singer
Like
Nuts
Look
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" What you have in legacy countries is long-term insolvency. "
Paul Singer
Legacy
Long-Term
You
" I've never let my guard down by saying, 'I don't need to be hedged.' "
Paul Singer
Never
Saying
Down
" Individual liberty, the basic underpinning of American society, requires constant defense against the encroachment of the state. "
Paul Singer
American
Society
Liberty
" 'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity. "
Paul Singer
Own
Time
Bond
" It is impossible to understand the financial health of big financial institutions and their potential impact on the market. They don't even understand it themselves. "
Paul Singer
Impossible
Health
Financial
" In the workplace, employees should be judged on their merit and hard work and not on aspects that are irrelevant to their performance. "
Paul Singer
Performance
Hard Work
Employees
" I know people who are always freeriders and will never get into a fight. "
Paul Singer
Know
Always
Fight
" I'm rarely optimistic. "
Paul Singer
Rarely
Optimistic
" A great deal of stupidity has chipped away at the massive advantages of Western civilization, which could terminally decline if it remains on the current path. But these problems can be solved - and swiftly - if the right leaders emerge. "
Paul Singer
Path
Stupidity
Right
" The bottom line is that the euro is a failed experiment. "
Paul Singer
Bottom Line
Line
Bottom
" Imagine how much capital a country like Argentina might attract - if instead of defaulting seriatim and affecting a pose of anger toward creditors, it borrowed responsibly and honored its obligations. "
Paul Singer
Anger
Like
How
" In government, the forces of risk-aversion and constant conflict serve to stultify and narrow the range of ideas up for debate. "
Paul Singer
Government
Up
Debate
" Capital is kind of a banking concept. "
Paul Singer
Capital
Concept
Kind
" It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans. "
Paul Singer
Long
True
Policy
" If you want an alternative currency, check out gold. It has stood the test of thousands of years as a store of value and medium of exchange. "
Paul Singer
Want
Currency
Gold
" Stability is not the way of the world. "
Paul Singer
Stability
World
Way
" My concern as a citizen and as a money manager is, Oh my God, at what point does a 'whoa' moment happen to these people who own $30 trillion fixed income instruments? "
Paul Singer
People
Manager
Own
" The world, in terms of choices available to educated, ambitious workers and entrepreneurs, is way bigger than just the United States, Japan and Europe. "
Paul Singer
Bigger
Choices
Educated
" Successful hedge funds will be entrepreneurial; it is the essence of the craft. "
Paul Singer
Will
Craft
Successful
" Check out London, Manhattan, Aspen and East Hampton real estate prices, as well as high-end art prices, to see what the leading edge of hyperinflation could look like. "
Paul Singer
Real
See
Real Estate
" Governments need to be authorized to provide 'open bank assistance.' The convolutions of Dodd-Frank aimed at 'avoiding' this tactic are ludicrous and will prove to be extremely costly to the system. "
Paul Singer
Bank
Will
System
" America is a place where the freedom to be who you are shouldn't be a barrier to your ability to get a job and provide for your family. "
Paul Singer
America
Family
Freedom
" What I think about derivatives is if every institution that owns or trades them is properly margined and marked to market, including end-users, including every institution, including sovereigns and multilateral institutions, then the system would be safe - if people were margined the way customers of investment banks are margined. "
Paul Singer
Way
Safe
People
" Given the typical fee structures of hedge funds, they need to do something different to make money in a consistent way. "
Paul Singer
Need
Way
Consistent
" There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope. "
Paul Singer
Money
Value
Time
" The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion. "
Paul Singer
Authority
Books
Fashion
" Margin is a customer concept. "
Paul Singer
Customer
Concept
Margin
" Resentment is not morally superior to earning money. "
Paul Singer
Superior
Resentment
Earning
" Opacity on extreme levels is not addressed anywhere, including Dodd-Frank. "
Paul Singer
Anywhere
Extreme
Including
" Credit ratings and risk weightings must undergo a thorough process of review and revision. No security or instrument on the planet should have a zero risk weighting. "
Paul Singer
Credit
Process
Review