Milton Friedman Quotes About Currency

Quotes about: Currency

• The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.

  Milton Friedman

  Great Depression, Currency, Federal Reserve

• The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a fixed exchange rate, abolish your central bank and adopt a currency board instead. Either extreme; a fixed exchange rate through a currency board, but no central bank, or a central bank plus truly floating exchange rates; either of those is a tenable arrangement. But a pegged exchange rate with a central bank is a recipe for trouble.

  Milton Friedman

  Recipes, Want, Asia

• You can only make money if you buy a product, whatever it is - maybe a currency, maybe wheat and maybe something else - at a relatively low price and sell it at a higher price than you buy it at. There's no other way to make money.

  Milton Friedman

  Way, Wheat, Making Money

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

  Milton Friedman

  Independent, Unions, Currency

  Source: www.huffingtonpost.com

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