# Quote — Alan Greenspan, The Age of Turbulence

> Of course, shedding the debt burden would be a happy development for our country, but it would nevertheless pose a big dilemma for the Fed. Our primary lever of monetary policy was buying and selling treasury securities-Uncle Sam's IOU's. But as the debt was paid down, those securities would grow scarce, leaving the Fed in need of a new set of assets to effect monetary policy.

- Author: [Alan Greenspan](https://www.leafyquotes.com/alan-greenspan.md)
- Book: [The Age of Turbulence](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence.md)
- Page: 214
- Source: [Wikiquote](https://en.wikiquote.org/wiki/Alan_Greenspan#The_Age_of_Turbulence_(2008)) ([CC BY-SA 4.0](https://creativecommons.org/licenses/by-sa/4.0/))
- Quote page: https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/of-course-shedding

## More from this book

> An area in which more rather than less government involvement is needed, in my judgment, is the rooting out of fraud. It is the bane of any market system.

p. 375 — [Quote page](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/an-area-in-which.md)

> From the development of the textile loom two centuries ago to today's Internet, output per hour has increased fifty fold.

p. 471 — [Quote page](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/from-the-development.md)

> Over the years I have had the most contact with Lee Kuan Yew, most recently in 2006, and have always found him impressive, even though we do not always see eye to eye. I met him first when he was George Shultz's guest at the famous (or infamous, depending on your perspective) Bohemian Grove, a male only bonding retreat among the redwoods of California.

p. 312 — [Quote page](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/over-the-years.md)