Monetary Quotes

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

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.

The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.

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.

I've never had to turn my hand to anything for monetary gain, other than pretending to be somebody else. I'm deeply fortunate.

For my generation, the monetary union has always been about forging peace.

The sad thing is, our foreign policy WILL change eventually, as Rome's did, when all budgetary and monetary tricks to fund it are exhausted.

What generates war is the economic philosophy of nationalism: embargoes, trade and foreign exchange controls, monetary devaluation, etc. The philosophy of protectionism is a philosophy of war.

A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.

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.

Inflation is always and everywhere a monetary phenomenon.

Money will cease to be master and become the servant of humanity. Democracy will rise superior to the money power.

We are in for a fiesta of default, repossession, and distress selling of suburban property, much of which will lose its presumed usefulness and monetary value in an energy-scarce economy.

This is the darkest hour before dawn and we should never underestimate monetary authorities' ability to deal with the adversity.

Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.

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.

To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.

Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.

The economic union - creating a big common market, like the United States, so that you can compete across borders. There are common rules, regulations, and simplification, and that is still a good reason, too. When they put their monetary union together, that created a rigidity that made it hard for currency fluctuations. They don't really have a solution to that.

...there seems to be a correlation between the intensity of the official attacks on gold and the severity of monetary crises.

If you make people uniform, you can control them. If you teach people to read, and think, and question things, you lose control. So, the best idea is to separate people if you wish to maintain a monetary system. It's called divide and conquer. By dividing people, they're not a threat, you can control them.

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.

Right after the Civil War there was considerable talk about reviving Lincoln's brief experiment with the Constitutional monetary system. Had not the European money-trust intervened, it would have no doubt become an established institution.

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.

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.

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.

Through the last centuries, the effort of capitalism has been to take all the things that were human relations and turn them into monetary exchanges.

During the last campaign I knew what was happening. You know, they mocked me for my foreign policy and they laughed at my monetary policy. No more. No more.

The American people have no idea they are paying the bill.  They know that someone is stealing their hubcaps, but they think it is the greedy businessman who raises prices or the selfish laborer who demands higher wages or the unworthy farmer who demands too much for his crop or the wealthy foreigner who bids up our prices.  They do not realize that these groups also are victimized by a monetary system which is constantly being eroded in value by and through the Federal Reserve System.

Take Milton Friedman, he sits at his desk pontificating about such bunk as the monetary system being the answer to our problems. The monetary system is a legal contrivance. Property, not money, is real wealth. It's physical, not legal.

If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.

The money problem facing the country from 1789 to 1896 existed because Congress never exercised is authority to "coin money or regulate the value thereof" - but rather delegated that authority, sometimes by charter and sometimes by default, to the banking system. This despite the provision in the Constitution that charged Congress with the power to 'coin money, regulate the value thereof, and of foreign Coin, and fix the Standards of weight and Measures.'

When plunder becomes a way of life, men create for themselves a legal system that authorizes it and a moral code that glorifies it.

There are two ways to aquire the niceties of life: 1) To produce them or 2) To plunder them. When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time, a legal system that authorizes it and a moral code that glorifies it.

Behind the screen of the ballot, the real holders of power ... are the great industrial and monetary monopolies who own our national economic life.

Communism is something that comes from the classics of Marxism that talked of a modern society we should aspire to. One that is truly fair where relations of monetary exchange are not the priority but rather one where peoples' needs could be satisfied.

I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.

Political uncertainty around the world has more than doubled since the election of Trump. To find anything comparable we have to go way back, to the late 1920s for example, the times of the Great Depression. Or think of the United Kingdom in the 1970s, when the International Monetary Fund had to help the country out with a dramatic rescue operation. Up until the Greek crisis, that was the last time that the IMF was forced to intervene to such an extent in Europe.

People working at the arenas are not just depending on one or two concerts. I think it gives a symbolic boost, as well as those shows do bring down some monetary investments in the city.

rejected both the appropriateness of an apology and of monetary redress.

The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain.

Ever since its founding in 1913, the Fed has described itself as an "independent" agency operated by selfless public servants striving to "fine-tune" the economy through monetary policy. In reality, however, a non-political governmental institution is as likely as a barking cat.

A European currency will lead to member-nations transferring their sovereignty over financial and wage policies as well as in monetary affairs... It is an illusion to think that States can hold on to their autonomy over taxation policies.

I don't think that our problem, our jobs problem, is fundamentally a problem of trade. I think it has much more to do with the fact that we have not sufficiently educated our population. We have not got out of this great recession with adequate stimulus and adequate fiscal and monetary policies over all.

He who gives up shyness in monetary dealings, in acquiring knowledge, in eating and in business, becomes happy.

In this age of electronic money, investors are no longer seduced by a financial 'dance of a thousand veils.' Only hard and accurate information on reserves, current accounts, and monetary and fiscal conditions will keep capital from fleeing precipitously at the first sign of trouble.

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.

We are selling ourselves very short by funneling our energies into what the traditional perception is of academic and monetary success.

Money values do not simply mirror the state of affairs in the real world; valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion; that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.

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