Top Monetary System Quotes

Browse top 7 famous quotes and sayings about Monetary System by most favorite authors.

Favorite Monetary System Quotes

1. "In the days when money was backed by its face value in silver or gold, there were limits to how much wealth could flow around the world. Today, it's virtual money that the bank lends into existence on a computer screen. "And unless the economy continually expands, there is no new flow of money to pay back that money, plus interest." . . . "As it stands now, if banks start loaning money more slowly than they collect debts, the quantity of money in the economy goes down, and it's impossible to pay back debts. So we get defaults on houses . . . our economy plunges into misery and unemployment. Under our current monetary system, the only alternative to that is endless growth. So one absolute thing we have to change is the whole nature of the monetary system. . . . we deny banks the right to create money." . . . There's a challenge with that solution, he admits. "You're trying to take the right to create wealth away from some of the wealthiest people on the planet."
Author: Alan Weisman
2. "But you didn't mention Orrigar I, the first king of the House of Chaldarina. He put an end to years of unrest and civil strife. Neither did you mention Ronnick II, the one who reformed the monetary system and forbade the Great Houses to mint their own coins, thus stabilizing our currency. At the time it saved Ximerion from going bankrupt." "I'm sorry. I told you we weren't big—" "It's not that, Hemarchidas. You remembered the fighting kings, those who brought war, destruction and ephemeral glory. Or those who ended tragically. You forgot the wise administrators, those who kept the peace, those who brought prosperity. You needn't feel embarrassed, though. So did history." Hemarchidas looked at his friend as if he saw him for the first time. "So, all in all, Hemarchidas, I'd rather history forgot me."
Author: Andrew Ashling
3. "In Chapter 5 we consider swindles and defalcations. It happens that crashes and panics often are precipitated by the revelation of some misfeasance, malfeasance, or malversation (the corruption of officials) engendered during the mania. It seems clear from the historical record that swindles are a response to the greedy appetite for wealth stimulated by the boom. And as the monetary system gets stretched, institutions lose liquidity, and unsuccessful swindles are about to be revealed, the temptation to take the money and run becomes virtually irresistible. It is difficult to write on this subject without permitting the typewriter to drip with irony. An attempt will be made."
Author: Charles P. Kindleberger
4. "… the fact that it [the US] can, at will, drop bombs with only a few hours' notice, at absolutely any point on the surface of the planet. No other government has ever had anything remotely like this sort of capacity. In fact, a case could well be made that it is this very power that holds the entire world monetary system, organized around the dollar, together"
Author: David Graeber
5. "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Author: Henry Ford
6. "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."
Author: Henry Hazlitt
7. "Of course I've already taken a very modest position on the monetary system, I do take the position that we should just end the Fed."
Author: Ron Paul

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Long ago, when an early galaxy began to pour light out into the surrounding darkness, no witness could have known that billions of years later some remote clumps of rock and metal, ice and organic molecules would fall together to make place called Earth; or that life would arise and thinking beings evolve who would one day capture a little of that galactic light, and try to puzzle out what had sent it on its way. And after the earth dies, some 5 billion years from now, after it's burned to a crisp, or even swallowed by the Sun, there will be other worlds and stars and galaxies coming into being -- and they will know nothing of a place once called Earth."
Author: Carl Sagan

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