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Monetary Quotes

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Monetary Quotes

“Deficit financing proper is rather the process whereby a Government spends more money that it withdraws from the economy by taxation, borrowing, running down reserves, etc.; thereby causing in most circumstances, and very acutely in ours, monetary inflation and severe pressure on the balance of payments.”

“The dreams of "leaving it up to the market" or of returning to a politically neutral gold standard cannot succeed because the nature of the monetary system has a profound impact on the interests of powerful groups and states. Affected groups and states will always try to intervene in the operation of the system to make it serve their interests.”

“Here are the folks that are involved in this New World Order: The United Nations [....] the World Council of Churches [.....] the Council of Foreign Relations, the Trilateral Commission, the Bilderbergers [.....] the International Monetary Fund [.....] the Club of Rome, the communists, the socialists, the National Education Association [.....] the NOW organisation, the ACLU, the Masonic Lodge.”

“The presently existing global financial and monetary system will disintegrate during the near term. The collapse might occur this spring, or summer, or next autumn; it could come next year; it will almost certainly occur during President William Clinton's first term in office; it will occur soon. That collapse into disintegration is inevitable, because it could not be stopped now by anything but the politically improbable decision by leading governments to put the relevant financial and monetary institutions into bankruptcy reorganization.”

“My definition of success is to be happy in what you like to do best. It's not a monetary value; it's an internal value in itself. If you're happy from the inside-out, thats what is important. Success comes as a day to day value or reaching a goal that you have, and you've got to prepare yourself for what's to come when success is there.”

“There are many reasons why the general public doesn't really understand our monetary system. In the first place, money is something that people tend to get emotional about. After all, money involves, and always has involved, something closely akin to faith-which probably explains why in many past societies the money system has been in the hands of a priesthood, the subject of magical rites, and the ceremonial services of the tribe's medicine man.”

“As a general rule, when something gets elevated to apple-pie status in the hierarchy of American values, you have to suspect that its actual monetary value is skidding toward zero. Take motherhood: nobody ever thought of putting it on a moral pedestal until some brash feminists pointed out, about a century ago, that the pay is lousy and the career ladder nonexistent. Same thing with work: would we be so reverent about the 'work ethic' if it wasn't for the fact that the average working stiff's hourly pay is shrinking, year by year.”

“I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of the shortcomings of the Euro structure. Euro central institutions, whether it be fiscal policy, monetary policy, financial regulation, are simply not as robust as they are in a currency that has a national government behind it.”

“Most people won't have opportunity to do full-time service, but those lucky enough to have monetary wealth or some spare time really can make an enormous difference. As someone who's now in the public sector, and is seeing up-close-and-personal the real impact of what we do and what we give, I can tell you: every dollar and every volunteer help, in more ways than you can count.”

“When people become frightened, they look for things of real value. They will go to monetary metals, gold and silver, and they will buy other things, such as buying property. But no matter what we have, whether we have our gold coins or we have our property, if we have an authoritarian government, that is our greatest threat. So, I would like to think that there is no perfect protection, other than shrinking the size and scope and power of government, so that we can be left alone and take care of ourselves.”

“The excellence of metallic money in free circulation consists in the fact that it renders impossible the abuse of the power of the government to dispose of the possessions of its citizens by means of its monetary policy and thus serves as the solid foundation of economic liberty within each country and of free trade between one country and another.”

“... Member Countries shall take necessary action and/or shall establish negotiations, individually or in groups, with the oil companies with a view to adopting ways and means to offset any adverse effects on the per barrel real income of Member Countries resulting from the international monetary developments as of 15th August 1971.”

“Once public opinion is convinced that the increase in the quantity of money will continue and never come to an end, and that consequently the prices of all commodities will not cease to rise, everybody becomes eager to buy as much as possible and restrict his cash holdings to minimum size... If the credit expansion is not stopped in time, the boom turns to crack-up boom: the flight into real values begins, and the whole monetary system founders.”

“My monetary studies have led me to the conclusion that central banks could profitably be replaced by computers geared to provide a steady rate of growth in the quantity of money. Fortunately for me personally, and for a select group of fellow economists, that conclusion has had no practical impact… else there would have been no Central Bank of Sweden to have established the award [Nobel Prize] I am honoured to receive.”

“I believe, unlike people that are totally free-market, laissez-faire fundamentalists, that there is an important role that the government can play - one, in providing public goods, whether it's education, health care, or other things, and two, supervising countercyclical policy - stimulus, whether it's monetary, fiscal, or otherwise.”

“I don't necessarily do anything just for the money. I do it for the passion and I do it for the love, because I'm still hungry. So if I want to do music, it's not necessarily motivated because of monetary value. It's more about the passion and the love, and I think that's where music should come from, the heart, not necessarily just to cash a check.”

“In all the thrashing about that results from our dwindling gold reserves, it's about time that this country and other countries get some perspective on the situation. The day this country is out of the stuff, that day gold becomes what it's worth as a metal and no longer will have much significance as a monetary measurement. It isn't the gold we have that makes this nation rich. It's what we make, our knowhow, our productivity. So long as this country produces more and better, the world will continue to want what we make.”

“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”

“For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.”

“Look at any financial institution, at any bank. They're all photocopies of each other. There's no diversity of institutions and even less diversity of currency. Therefore, just as you say its very logical that an ecosystem like this will collapse, it's very predictable a monetary system like this will collapse, too. And it hasn't finished collapsing, by the way.”

“Artists are just entrepreneurs. It's up to them to figure out how or if they can make a monetary profit from their passion − from their calling, as I discussed above. Sometimes they can. Musicians can sell music, even in the face of piracy. Or they can sell their services − concerts, etc. Painters and other artists can profit in similar ways. A novelist could use kickstarter for a sequel or get paid to consult on a movie version.”

“We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.”