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Quote by Antoine Rivarol

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Antoine Rivarol
Antoine Rivarol

Antoine Rivarol was a French writer and political philosopher, a prominent figure in the intellectual circles of the late 18th century. His career was marked by his fervent support for the French Revolution and its ideals, which often put him at odds with the revolutionary government. Born on June 26, 1753, Rivarol's writings reflected the radical and revolutionary sentiments of the time. more

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“That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.”

“It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.”

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