Central Banks Quotes - Page 5

• In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months.

  Marc Faber

  Oil, People, Six

  "MARC FABER: Sure Gold Is Down, But Apple Is Down By Twice As Much" by Sam Ro, www.businessinsider.com. April 12, 2013.

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• This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.

  George Soros

  Country, Responsibility, Government

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

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• Any central bank should only be in charge of liquidity. Solvency is a matter for the treasury.

  George Soros

  Matter, Should, Treasury

  Source: www.spiegel.de

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• I'm blown away. I'm flabbergasted the president [Barack Obama] made the phone call to Rouhani after 30-plus, `79, 33 years or so. And there's a reason we haven't negotiated with Iran, because they're state-sponsored terrorists. They're the central bank for terrorism around the world.

  Barack Obama

  Iran, Years, Phones

  Source: www.foxnews.com

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• [When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower.

  Mohamed El-Erian

  Running, Two, Growth

  Source: www.pbs.org

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• Central banks don't have divine wisdom. They try to do the best analysis they can and must be prepared to stand or fall by the quality of that analysis.

  Mary Kay Ash

  Fall, Divine Wisdom, Trying

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• The world's central banks and the International Monetary Fund still have vaults full of bullion, even though currencies are no longer backed by gold. Governments hold on to it as a kind of magic symbol, a way of reassuring people that their money is real.

  James Surowiecki

  Real, Government, People

  "Why Gold?". www.newyorker.com. November 29, 2004.

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• It is clear to me that the financial sector, including CNBC, loves central banks

  Marc Faber

  Financial, Clear, Including

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• Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

  Toshihiko Fukui

  Japan, Years, Long

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• Quantitative easing is just the latest chapter in the Federal Reserve’s hundred-year history of failure. (...) The American people have suffered long enough under a monetary policy controlled by an unaccountable, secretive central bank. It is time to finally audit - and then end - the Fed.

  Ron Paul

  Years, Long, People

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• In the current situation, particular attention should be given to the quality of financial and economic management. The Government and the Central Bank should have a strategic action plan

  Tatyana Golikova

  Government, Should Have, Quality

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• If we speak about fundamental things, regulation of the rate is actually the function of the main regulator, namely the function of the Central Bank. And it should think of how the economy and industry react, but also of its fundamental tasks in order to ensure the stability of the rate.

  Vladimir Putin

  Thinking, Order, Regulation

  Source: thesaker.is

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• The stability of the rate is the main issue and the Central Bank manages to ensure it one way or another. This was finally achieved after the Central Bank switched to a floating national currency exchange rate.

  Vladimir Putin

  Issues, Floating, Way

  Source: thesaker.is

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• The Central Bank should take into account other things as well: the stability of the bank system in the country, the increase or decrease of money supply in the economy, its influence on inflation.

  Vladimir Putin

  Country, Influence, Economy

  Source: thesaker.is

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• The Central Bank is constantly purchasing, purchasing and selling and vice versa - this is their job.

  Vladimir Putin

  Jobs, Vices, Selling

  Source: thesaker.is

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• I know very well about the necessary level of reserves of the Central Bank as well as the purpose.

  Vladimir Putin

  Purpose, Levels, Wells

  Source: thesaker.is

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• We can tell the general public that the gold and foreign currency reserves of the Central Bank are not designed to finance the economy, but rather to ensure foreign trade turnover. Therefore, we need this level to be able to provide the necessary foreign trade turnover for such an economy as Russia's for a period of at least three months.

  Vladimir Putin

  Russia, Gold, Three

  Source: thesaker.is

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• All issues - purchasing and selling of currency - are related to the regulation of the national currency market. However, it is still difficult to say what will be the reaction of the Central Bank and if it would lead to increasing the gold and foreign currency reserves.

  Vladimir Putin

  Issues, Gold, Regulation

  Source: thesaker.is

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• Finance ministers and central bank governors have the seats at the table, not labor unions or labor ministers. Finance ministers and central bank governors are linked to financial communities in their countries, so they push policies that reflect the viewpoints and interests of the financial community and barely hear the voices of those who are the first victims of dictated policies.

  Joseph Stiglitz

  Country, Voice, Community

  Source: www.progressive.org

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• Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.

  Mark Zandi

  Japan, Effort, Each Month

  Source: www.washingtonpost.com

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• I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.

  Paul Krugman

  Philosophy, Cutting, Long

  "Actually, Krugman Was A Huge Advocate Of The Housing Boom" by Joe Weisenthal, www.businessinsider.com. June 17, 2009.

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• There's no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.

  Ben Bernanke

  Smart, Challenges, Growth

  "A Crash Course for Central Bankers" by Ben Bernanke, foreignpolicy.com. Novemeber 20, 2009.

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• It is always and everywhere the province of the central bank to monetize any spending, the government's or the private sector's, by printing enough money to pay for it in depreciated dollars.

  Caroline Baum

  Government, Dollars, Pay

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• In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.

  Abdul Aziz Al Ghurair

  Hands, Banking, Regulation

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• In fact, some leaders come right out and say it. Mario Draghi the president of the European Central Bank had an interview with the Wall St Journal in which he said the social contract's dead; we finally got rid of it.

  Noam Chomsky

  Wall, Leader, President

  "Noam Chomsky on America's Economic Suicide". Interview with Laura Flanders / GRITtv, www.alternet.org. May 4, 2012.

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