Monetary System Quotes - Page 3

• The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented.

  Josiah Stamp

  Hands, Historical, Bankers

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• Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.

  John Maynard Keynes

  Mean, Men, Law

  John Maynard Keynes (2016). “The Economic Consequences of the Peace: The Economist”, p.124, 北戴河出版

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• 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.

  Paul Valery

  Men, Two, Together

  73 Copy quote

• My agency in promoting the passage of the National Banking Act was the greatest mistake of my life. It has built up a monopoly which affects every interest in the country

  Salmon P. Chase

  Country, Mistake, Agency

  52 Copy quote

• It strengthens the bonds between nations to have the same civil laws and the same monetary system.

  Napoleon Bonaparte

  Law, Nations, Monetary

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• It is regrettable that people think about our monetary system, and of our economic structure, only in times of depression.

  Henry Ford

  Thinking, People, Economic

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• What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.

  Ludwig von Mises

  Government, Economic, Calculations

  Ludwig Von Mises (1963). “Human action: a treatise on economics”

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• 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.

  Bernard von NotHaus

  Believe, People, Needs

  Source: www.wherestherage.com

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• 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 Volcker, 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.

  Bernard von NotHaus

  Believe, People, Needs

  Source: www.lewrockwell.com

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• A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.

  Milton Friedman

  Running, Needs, Complicated

  Source: www.pbs.org

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• Few policies are more calculated to destroy the existing basis of a free society than the debauching of its currency. And few tasks, if any, are more important to the champion of freedom than creation of a sound monetary system.

  Hans F. Sennholz

  Champion, Important, Sound

  Hans F. Sennholz (1979). “Age of inflation”

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• We are talking about an awesome power. It is the power to weave illusions that appear real as long as they last. That is the very core of the Fed's power. Of course not everyone is instinctively against this illusion-weaving power, and many even welcome it. Tragically, the innocent who understand little about the complexity of the monetary system suffer the most, while those who are in the know reap great profit whether the market is going up or down.

  Ron Paul

  Money, Real, Power

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• 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.

  Bernard Lietaer

  Ecosystems, Diversity, Looks

  Interview with Tracy Fernandez Rysavy, www.greenamerica.org. 2009.

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• During the thousands of years of monetary system, most workers have been paid just enough to make it necessary that they return to work, even when higher wages have been possible. How else can the wage-payer keep the workers coming back?

  Jacque Fresco

  Years, Return, Wages

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• In a monetary system, most of us live near our work with a house, car, and lifestyle we can afford (or, all too often, cannot afford), rather than the one we prefer. We are only as free as our purchasing power permits. Even many wealthy people today select a residence mainly to impress others with their status. Lacking a true sense of self worth, many live to impress others.

  Jacque Fresco

  Self Worth, Car, People

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• From the inception of our nation our American ancestors intended for the United States to operate under a precious-metals monetary system or, more specifically, under a monetary system in which people used gold and silver coins rather than paper money as the media of exchange.

  Jacob G. Hornberger

  Media, People, Gold

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• 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.

  Robert Gilpin

  Dream, Powerful, Impact

  "The Political Economy of International Relations". Book by Robert Gilpin, 1987.

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• 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.

  Ludwig von Mises

  Real, Public Opinion, Cracks

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• The Great Depression in the United States, far from being a sign of the inherent instability of the private enterprise system, is a testament to how much harm can be done by mistakes on the part of a few men when they wield vast power over the monetary system of the country.

  Milton Friedman

  Country, Mistake, Men

  Milton Friedman (2009). “Capitalism and Freedom: Fortieth Anniversary Edition”, p.50, University of Chicago Press

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• The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending.

  Martin Wolf

  Essence, Foolish, Creation

  "The Fed is right to turn on the tap". www.ft.com. November 9, 2010.

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• The more I travel around the world, the more I see people want the same thing - to be happy. We wouldn't be in a monetary system if we didn't have to work, so if my music can contribute to happiness, then that's my main responsibility.

  Jason Mraz

  Responsibility, People, World

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• Nevertheless, if we contemplate a society with a somewhat stable wage-unit, with national characteristics which determine the propensity to consume and the preference for liquidity, and with a monetary system which rigidly links the quantity of money to the stock of the precious metals, it will be essential for the maintenance of prosperity that the authorities should pay close attention to the state of the balance of trade. For a favourable balance, provided it is not too large, will prove extremely stimulating; whilst an unfavourable balance may soon produce a state of persistent depression.

  John Maynard Keynes

  Balance, Essentials, Attention

  John Maynard Keynes (2006). “General Theory Of Employment , Interest And Money”, p.307, Atlantic Publishers & Dist

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• Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.

  Murray Rothbard

  Money, Blessing, America

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• It's hard in a monetary system to trust people.

  Jacque Fresco

  Trust, Money, People

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• 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.

  James Rickards

  Hard Work, Gold, Information

  James Rickards (2014). “The Death of Money: The Coming Collapse of the International Monetary System”, p.156, Penguin

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