84 Monetary System Quotes
Following is our list of monetary system quotations and slogans full of insightful wisdom and perspective about banking system.
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Famous Monetary System Quotes
The most important thing about any monetary system is that it provides a stable unit of account. — Russell Napier
Money is an information system for labor allocation. — Elon Musk
Bitcoin is a solution out of that problem [money printing]. It’s a system change. — Jeff Booth
A good that assumes the role of a widely accepted medium of exchange is called money. — Saifedean Ammous
All money is a matter of belief. — Adam Smith
By the beginning of the 20th century, the debate about monetary policy and the nation's financial system had been going on for over a century. — Jerome Powell
The fundamental engineering feature of the fiat system is that it treats future promises of money as if they were as good as present money because the government guarantees these promises. — Saifedean Ammous
Every era has a monetary paradigm that drives investment and speculation. — Russell Napier
Monetary policy is about the redistribution of wealth and income from the masses to the classes. — Russell Napier
Further, wide acceptance of a medium of exchange allows all prices to be expressed in its terms, which allows it to play the third function of money: unit of account. — Saifedean Ammous
Gold is money. Everything else is credit. — J. P. Morgan
The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system. — Ed Seykota
Inflation is always and everywhere a monetary phenomenon. — Milton Friedman
Money is not real. It is a conscious agreement on measuring value. — John Ralston Saul
Each piece of money is a mere coin, or means of circulation, only so long as it actually circulates. — Karl Marx
Short Monetary System Quotes
- Money is always moving. — Andrew Tate
- We are in a world of irredeemable paper money - a state of affairs unprecedented in history. — John Exter
- What is Money? will be regarded as the defining question of our time in history. — Robert Breedlove
- Bitcoin is the world’s first engineered monetary network. — Michael Saylor
Monetary Policy Quotes
While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth. — Jerome Powell
The success of monetary policy should be judged by the economy's performance against our statutory mandates of price stability and maximum employment. — Jerome Powell
By tying minimum wage to money supply, the poor's income would rise and fall with the rise and fall in money supply. — Max Keiser
One factor that favors easier adjustment in EMEs is that U.S. monetary policy normalization has been and should continue to be gradual, as long as the U.S. economy evolves roughly as expected. — Jerome Powell
Minimum wage law is the 'People's Fed.' Tie minimum wage to money supply. If there is pushback against this idea, then shut down the Fed and its ability to distort the economy, penalizing labor, or make the Fed's distortions available to all businesses and all workers. — Max Keiser
The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. — Jerome Powell
Long experience, in the United States and in other advanced economies, has demonstrated that monetary policy is most successful when decisions are rendered independent of influence by elected officials. — Jerome Powell
The Fed's organization reflects a long-standing desire in American history to ensure that power over our nation's monetary policy and financial system is not concentrated in a few hands, whether in Washington or in high finance or in any single group or constituency. — Jerome Powell
No government can successfully achieve all three goals of having a fixed foreign exchange rate, free capital flows, and an independent monetary policy. — Saifedean Ammous
Banking System Quotes
When plunder becomes a way of life, men create for themselves a legal system that authorizes it and a moral code that glorifies it. — Frederic Bastiat
You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning. — Andrew Jackson
Big banks, highly leveraged casinos, do whatever they can to keep the cost of their gambling as cheap as possible. This means keeping interest rates as cheap as possible. — Max Keiser
Success of bitcoin and the exchanges that deal in it could be interpreted by some to mean the demise of central banks, Wall Street, and the Washington insiders who trade on inside information and market manipulation. — Max Keiser
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. — Henry Ford
I think anybody who is interested in keeping their money safe from the criminal banking system would want gold, silver, and Bitcoin. — Max Keiser
You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out. — Andrew Jackson
The bank hath benefit of interest on all moneys which it creates out of nothing. — William Paterson
Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back. — Josiah Stamp
The few who understand the system, will either be so interested from it's profits or so dependent on it's favors, that there will be no opposition from that class. — Mayer Amschel Rothschild
People Writing About Monetary System
More Monetary System Quotes
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. — Jacque Fresco
Bitcoin Mining serves as the foundation of the monetary network - critical to its growth, stability, longevity, vitality, & integrity. The Proof of Work architecture is a masterpiece of engineering that anchors the system to the real world, providing Seven Layers of Security. — Michael Saylor
One bitcoin block is expected to be produced around every ten minutes. Every 210,000 blocks, or roughly four years, the protocol halves the number of coins produced with each block. This means that the daily bitcoin production on any given day is half of what it was four years earlier. Four more years of successful operation will likely increase people’s awareness of bitcoin and increase the chances they place on its continued survival, thus increasing their subjective valuation and demand for it. So as long as bitcoin continues to operate, and its supply drops by half every four years, it is highly likely that marginal demand for it will be higher, and the marginal supply lower, than four years previously. This monetary time bomb keeps clicking with each new block, and it is time for economists to begin to seriously contemplate what its continued clicking means for the world’s monetary and financial system. — Saifedean Ammous
With the simple suspension of gold redeemability, governments’ war efforts were no longer limited to the money that they had in their own treasuries, but extended virtually to the entire wealth of the population. For as long as the government could print more money and have that money accepted by its citizens and foreigners, it could keep financing the war. Previously, under a monetary system where gold as money was in the hands of the people, government only had its own treasuries to sustain its war effort, along with any taxation or bond issues to finance the war. This made conflict limited, and lay at the heart of the relatively long periods of peace experienced around the world before the twentieth century. — Saifedean Ammous
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. — Jacque Fresco
The introduction of Bitcoin, as a currency native to the Internet superseding national borders and outside the realm of governmental control, offers an intriguing possibility for the emergence of a new international monetary system, to be analyzed in Chapter 9. — Saifedean Ammous
We think Bitcoin is one of the most important investments of our lifetimes, this is a global rules based monetary system and it’s a very big idea and we think it’s the biggest of all of the crypto ideas out there. — Cathie Wood
The introduction of Bitcoin, as a currency native to the Internet superseding national borders and outside the realm of governmental control, offers an intriguing possibility for the emergence of a new international monetary system. — Saifedean Ammous
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
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
A truly International Monetary System would be one where the whole world possessed a homogeneous currency such as obtains within separate countries and where its flow between regions was left to be determined by the results of the action of all individuals. — Saifedean Ammous
Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal - that there is no human relation between master and slave. — Leo Tolstoy
Paper money has had the effect in your State that it ever will have, to ruin commerce, oppress the honest, and open a door to every species of fraud and injustice. — George Washington
Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess — Irving Fisher
Paper money eventually returns to its intrinsic value - zero. — Voltaire
The issuing power [of money] should be taken from the banks and restored to the people, to whom it properly belongs. — Thomas Jefferson
I hope we shall . . . crush in [its] birth the aristocracy of our monied corporations. — Thomas Jefferson
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
It's hard in a monetary system to trust people. — Jacque Fresco
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
Monetary inflation not only raises prices and destroys the value of the currency unit; it also acts as a giant system of expropriation. — Murray Rothbard
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. — Henry Hazlitt
Does a population have informed consent when that population is not taught the inner workings of its monetary system, and then is drawn, all unknowing, into economic adventures? — Frank Herbert
I am afraid the ordinary citizen will not like to be told that the banks can, and do, create money...And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hands the destiny of the people. — Reginald McKenna
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
It strengthens the bonds between nations to have the same civil laws and the same monetary system. — Napoleon Bonaparte
We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the world. — Woodrow Wilson
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. — Ludwig von Mises
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. — W. Cleon Skousen
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
Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money. — Daniel Webster
If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations. — Andrew Jackson
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
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. — John Maynard Keynes
The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do. — Milton Friedman
Deficit spending is simply a scheme for the confiscation of wealth. — Alan Greenspan
The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending. — Martin Wolf
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