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In an extreme credit crunch, leveraged purchases of gold cause forced sales, because any price correction triggers margin calls. As a result, gold can be very volatile - upward and downward - at the peak of a crisis.

From Nouriel Roubini

A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.

From Nouriel Roubini

If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks.

From Nouriel Roubini

I've nothing against Goldman Sachs. But Goldman Sachs isn't an investment bank. Goldman Sachs is a hedge fund. It's bigger than any hedge fund. It's more leveraged, to the power of three or five, than any hedge fund.

From Nouriel Roubini

I'm a rock star among geeks, wonks, and nerds.

From Nouriel Roubini

No country can be complacent in making sure that excessive debt of the household doesn't create excesses and weaknesses in the financial system. Everything is interconnected.

From Nouriel Roubini

A home is a home, and excess supply leads to prices falling.

From Nouriel Roubini

The U.S. has been living in a situation of excesses for too long. Consumers were out spending more than their income and the country was spending more than its income, running up large current-account deficits. Now we have to tighten our belts and save more.

From Nouriel Roubini

I love and collect contemporary art and go to all the art fairs. I love Damien Hirst and Matthew Barney. I grew up in Italy and had a humanistic education in philosophy and literature - things I love and appreciate. People are richer and more complex than just their day-to-day professional pursuits might suggest.

From Nouriel Roubini

For me, geopolitical issues are becoming more important, because how can you understand economy if you don't understand geopolitics? People think economists just deal with spreadsheets and charts. That's a narrow-minded caricature.

From Nouriel Roubini

Nouriel Roubini

Notable Quotes

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