There is no sure or costless way of hedging against all uncertainties; the only sure beneficiaries are those manning the trading desks and inventing the myriad of new devices to reduce risks--or to facilitate speculation." Volcker, Paul and Gyothen, Toyoo (1992).
Volcker, Paul and Gyothen, Toyoo (1992) Changing Fortunes: The World's Money and the Threat to American Leadership, Times Books, New York, 1992; Volcker, Paul (December 1997) "Global Markets and the Emerging Economies", Lecture in honor of Fritz Leutwiler at The University of Zurich, December 15, 1997; Volcker, Paul (April 2001) "Globalization and the World of finance", The 2001 Hutchinson Lecture, University of Delaware, April 30, 2001.
They are able to speak about political dynamics but not much else; central bankers are good to talk about markets but not much else " Toyoo Gyothen in Volcker, Paul and Gyothen, Toyoo (1992) Changing Fortunes: The World's Money and the Threat to American Leadership, Times Books, New York, 1992 Paul 307.
