Home / Quotes / Quote by E.C. Riegel

Quote by E.C. Riegel

“Money can be issued only in the act of buying, and can be backed only in the act of selling. Any buyer who is also a seller is qualified to be a money issuer. Government, because it is not and should not be a seller, is not qualified to be a money issuer.”

Quote by E.C. Riegel

Author

E.C. Riegel was a prominent author whose works spanned across philosophy, economics, and libertarianism. His writings have had a profound impact on subsequent libertarian thought, particularly in the realm of economics and free markets. more

You May Also Like

“As has been stated, the purpose of money is to split barter into two parts so that the seller is free to find his source of supply later and elsewhere. This is the sole purpose of money. Any effort to use money to serve another purpose is perversive; and this statement condemns the entire managed money philosophy.”

Has Beens Two Philosophy Use Purpose Effort Source Statements Making Money Elsewhere Sole Splits Sellers

Author:E.C. Riegel

“We certainly noted that when given the opportunity, women handle money more efficiently. They have long term vision, they manage money more carefully. Men are more callous with money. Their first reflex is to blow it by getting drunk in a pub, or on prostitutes or gambling. Women, on the other hand, are endowed with a tremendous sense of self-sacrifice and try to get the best out of the money, for their children, but also for their husbands.”

“The only way to get money out of politics is to get politics out of money-making.”

Way Making Money Get Money

Author:Richard Salsman

“The goal of the FED, as with all central banks, is three-fold: (1) to protect the largest commercial banks from their depositors, who occasionally exercise their contractual right to withdraw currency (the ungrateful cads); (2) to control entry of newcomers into the bankers' cartel (interlopers); (3) to keep the stock market from collapsing in a panic, thereby persuading depositors to withdraw currency”

Three Goal Exercise Protect Making Money Feds Panic Currency Folds Bankers Entry Ungrateful Central Banks Persuading Newcomers Cartels Cad Commercial Banks

Author:Gary North

“So I became a publisher by mistake - well, not quite by mistake, because I wanted to be an editor but I had to make sure the magazine would survive. The point is this: Most businesses fail, so if you're going to succeed, it has to be about more than making money.”

Ifs Wells Wanted Mistake Failing Succeed Magazines Making Money Editors Publishers

Author:Richard Branson

“If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible - but there it is.”

“And what did the banks do to earn this perpetually flowing river of wealth? Did they lend out their own capital obtained through investment of stockholders? Did they lend out the hard-earned savings of their depositors? No, neither of these were their major source of income. They simply waved the magic wand called fiat money.”

Hard Wealth Magic Source Majors Rivers Investment Income Saving Making Money Savings Wands Magic Wands Flowing River

Author:G. Edward Griffin

“When banks place credits into your account, they are merely pretending to lend you money. In reality, they have nothing to lend. Even the money that non-indebted depositors have placed with them was originally created out of nothing in response to someone else's loan. So what entitles the banks to collect rent on nothing? It is immaterial that men everywhere are forced by law to accept these nothing certificates in exchange for real goods and services. We are talking here not about what is legal, but what is moral.”

Men Real Reality Law Talking Accepting Moral Accounts Response Credit Making Money Goods Pretending Loan Certificates Indebted Goods And Services

Author:G. Edward Griffin

“In truth, money is not created until the instant it is borrowed. It is the act of borrowing which causes it to spring into existence. And, incidentally, it is the act of paying off the debt that causes it to vanish.”

Causes Existence Spring Debt Making Money Instant Borrowed Borrowing

Author:G. Edward Griffin

“Imagine, just for the sake of discussion, that you had a few hours a week and a few dollars a month to donate to a cause - and you wanted to spend that time and money where it would have the greatest impact in saving and improving lives. Where would you spend it?”

Wanted Causes Hours Imagine Week Months Impact Dollars Sake Saving Making Money Discussion Improving Donate Time And Money

Author:Bill Gates