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Money Quotes

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Money Quotes

“Why, just a couple of economic seasons ago, was idle cash considered an indication of bad management or lazy management? Because it meant that management didn't have this money out at work ... Now look. Presto! A new fashion! Cash is back in! Denigrating liquidity has dropped quicker than hemlines. A management is now saluted if it has some cash, some liquidity, doesn't have to go to the money market at huge interest rates to get the wherewithal to keep going and growing. Along with Ben Franklin, my father and your father would understand and applaud this new economic fashion.”

“If anything is evident about people who manage money, it is that the task attracts a very low level of talent, one that is protected in its highly imperfect profession by the mystery that is thought to enfold the subject of economics in general and of money in particular.”

“There is probably not more than one hundred dollars in cash in circulation today. That is, if you were to call in all the bills and silver and gold in the country at noon tomorrow and pile them on the table, you would find that you had just about one hundred dollars, with perhaps several Canadian pennies and a few peppermint Life Savers.”

“Politics is noble; it is one of the highest forms of charity, as Paul VI used to say. We sully it when we mix it with business. The relationship between the Church and political power can also be corrupted if common good is not the only converging point.”

“If we wanted a program to help the majority of the population, we'd offer loan guarantees to help poor people get access to reliable cars so that they could have a better shot at getting - and keeping - a well-paying job...A small amount of capital could make a much bigger difference in their lives than extra student loan relief for middle-class college kids would.”

“You start to worry about what happens if you don't win. You start to fear man because you want praise from man. You start thinking about how winning will lead to more money. There are a lot of sin issues inside of that. So now when I go into competition, I have to take my thoughts captive and use God's Word to fight that battle.”

“Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.”

“A bank is a place that will lend you money if you can prove that you don't need it.”

“If a man has an apartment stacked to the ceiling with newspapers, we call him crazy. If a woman has a trailer house full of cats, we call her nuts. But when people pathologically hoard so much cash that they impoverish the entire nation, we put them on the cover of Fortune magazine and pretend that they are role models.”

“Americans want action for their money. They are fascinated by its self- reproducing qualities if it's put to work. Gold- hoarding goes against the American grain; it fits in better with European pessimism than with America's traditional optimism.”

“A company can spend hundreds of thousands of dollars on firewalls, intrusion detection systems and encryption and other security technologies, but if an attacker can call one trusted person within the company, and that person complies, and if the attacker gets in, then all that money spent on technology is essentially wasted.”

“Every day I get up and look through the Forbes list of the richest people in America. If I'm not there, I go to work.”