The process by which banks create money is so simple that the mind is repelled.
Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
I think the role of the Federal Reserve is enormously exaggerated.
There is an enormous thrust in our time to have a simple answer. And that simple answer is that all depends on Alan Greenspan and the Federal Reserve. And Alan, who is an old acquaintance of mine, is a marvelous performer in the impression he gives of enormously great perception.
Of all the weapons in the Federal Reserve arsenal, words were the the most unpredictable in their consequences.
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