Monetary Quotes

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  • The history of fiat money is little more than a register of monetary follies and inflations. Our present age merely affords another entry in this dismal register.

    Age   Gold   Littles  
    Hans F. Sennholz (1979). “Age of inflation”
  • Let's say I am a chocoholic and I eat tons of chocolate a day. A hundred thousands of tons a day. I have this craving, but I can't afford it, so I get a printing press, and I start printing money, and I print billions and billions to buy chocolate. So I create this boom in the chocolate industry, so stores are running out of chocolate. So they have demand, so chocolate makers expand. Cocoa growers expand. You create this great boom. But now the feds arrest me and shut me down. And now there is a depression in the chocolate industry. That's what happens with the monetary policy.

    Source: www.washingtonpost.com
  • Domestic inflation reflects domestic monetary policy.

  • In the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.

    War   Loss   Government  
    "The creature from Jekyll Island". Book by G. Edward Griffin, 1994.
  • Rigorous financial discipline that, together with monetary stability, ends once and for all the boom and bust that for 30 years has undermined stability

  • I'm still a hacker. I get paid for it now. I never received any monetary gain from the hacking I did before. The main difference in what I do now compared to what I did then is that I now do it with authorization.

    Kevin Mitnick (2011). “Ghost in the Wires: My Adventures as the World's Most Wanted Hacker”, p.424, Hachette UK
  • 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.

    Dream   Powerful   Impact  
    "The Political Economy of International Relations". Book by Robert Gilpin, 1987.
  • 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.

    Interview with Peter Mansbridge, www.theglobeandmail.com. June 5, 2012.
  • Capital has its proper place and is entitled to every protection. The wages of men should be recognized in the structure of and in the social order as more important than the wages of money [interest].

    Men   Order   Important  
  • 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.

    Daniel Webster, Edward Everett (1860). “Speeches in Congress”, p.413
  • Someone has to borrow every dollar we have in circulation, cash or credit.

  • The problem is that people really just don't care and they have been "educated" not to care about the monetary system: that it's boring, it's difficult to understand, we need to have high minded people like "Greenscum" and Bernanke to do things like this (and don't forget Volker, there's the whole cast of them). The thing is that people have been educated or miseducated or brainwashed into believing that this is wayyyy too complicated for regular people to understand and that we need to let PhD economists guide us along in terms of what's right... and that's all bull.

    Believe   People   Needs  
    Source: www.wherestherage.com
  • The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

    Taken   Liberty   Gold  
  • Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.

    Milton Friedman (1994). “Money Mischief: Episodes in Monetary History”, p.63, Houghton Mifflin Harcourt
  • There is a strange idea aboard, held by all monetary cranks, that credit is something a banker gives to a man. Credit, on the contrary, is something a man already has. He has it, perhaps, because he already has marketable assets of a greater cash value than the loan for which he is asking. Or he has it because his character and past record have earned it. He brings it into the bank with him. That is why the banker makes him the loan.

    Character   Men   Past  
  • War, poverty, corruption, hunger, misery, human suffering will not change in a monetary system. That is, there will be very little significant change. It’s going to take the redesign of our culture and values.

    "Zeitgeist: Addendum". Documentary, History, War, www.imdb.com. 2008.
  • What you should be in a rush for isn't necessarily the immediate monetary return, but it's to know that this equation existing between an employee and a company is being honored. What's the equation? I'm going to give you my most precious thing that I have - my time and my reputation. That's what the employee says. And the company says I'm going to take your time and your reputation and direct it at things that we believe collectively have a huge impact opportunity to do something extremely positive. And that positivity will get measured in impact and also economic upside.

    Source: www.businessinsider.com
  • The case for trade is not just monetary, but moral. Economic freedom creates habits of liberty. And habits of liberty create expectations of democracy.

    George Walker Bush, John W. Dietrich (2005). “The George W. Bush Foreign Policy Reader: Presidential Speeches and Commentary”, p.29, M.E. Sharpe
  • With millions of people creating songs and uploading them to the web internationally, most artists know they need to dismantle the monetary barrier between themselves and the listener or they simply wont be heard.

    Song   Artist   Creating  
    Source: blog.noisetrade.com
  • Currently, the United States has troops in dozens of countries and is actively fighting in Iraq, Syria, Libya, and Yemen (with the occasional drone strike in Pakistan). In addition, the United States is pledged to defend 28 countries in NATO. It is unwise to expand the monetary and military obligations of the United States given the burden of our $20 trillion debt.

    Source: www.realclearpolitics.com
  • Using SROI to explore the value of our online question and answer service, askTheSite, helped us develop new mechanisms for speaking to young people and gain a real insight into the impact of our work. The project enabled us to demonstrate YouthNets commitment to robust impact measurement as well as our commercial approach to project evaluation. Perhaps most importantly, being able to assign a monetary value to askTheSite has enabled YouthNet to convey to current and potential funders how valuable the service is for both young people and the wider society in a language that they understand

  • If you embrace moderation, eat whole foods instead of junk, live within your physical, monetary, and environmental budget rather than constantly exceeding it, you will lose weight, tread more lightly on the planet, and gain satisfaction from these things.

    Mark Bittman (2008). “Food Matters: A Guide to Conscious Eating with More Than 75 Recipes”, p.79, Simon and Schuster
  • 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.

    Rome   Order   Church  
  • Monetary policy itself cannot sensibly be directed at reducing imbalances.

  • Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand

    Running   Long   Growth  
  • Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.

    Murray Newton Rothbard (1981). “What Has Government Done to Our Money?”, p.90, Ludwig von Mises Institute
  • Monetary calculation is not the calculation, and certainly not the measurement, of value. Its basis is the comparison of the more important and the less important. It is an ordering according to rank, an act of grading (Cuhel), and not an act of measuring. It was a mistake to search for a measure of the value of goods. In the last analysis, economic calculation does not rest on the measurement of values, but on their arrangement in an order of rank.

    Ludwig Von Mises (1960). “Epistemological Problems of Economics”, p.169, Ludwig von Mises Institute
  • Inflation is certainly low and stable and, measured in unemployment and labour-market slack, the economy has made a lot of progress. The pace of growth is disappointingly slow, mostly because productivity growth has been very slow, which is not really something amenable to monetary policy. It comes from changes in technology, changes in worker skills and a variety of other things, but not monetary policy, in particular.

    Source: www.macleans.ca
  • Monetary relations have penetrated into every nook and cranny of the world and into almost every aspect of social, even private life.

    World   Social   Aspect  
    "The Limits To Capital". Book by David Harvey, 1982.
  • Today we are again witnessing the emergence of transnational elites ... [Whose] ties cut across national boundaries ...It is likely that before long the social elites of most of the more advanced countries will be highly internationalist or globalist in spirit and outlook ... The nation-state is gradually yielding its sovereignty... Further progress will require greater American sacrifices. More intensive efforts to shape a new world monetary structure will have to be undertaken, with some consequent risk to the present relatively favorable American position.

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