Monetary System Quotes

• People say that the monetary system produces incentive.  This may be true in limited areas, but it also produces greed, embezzlement, corruption, pollution, jealousy, anger, crime, war, poverty, tremendous scarcity, and unnecessary human suffering.  You have to look at the entire picture.

  Jacque Fresco

  Jealousy, War, Anger

  93 Copy quote

• The issuing power [of money] should be taken from the banks and restored to the people, to whom it properly belongs.

  Thomas Jefferson

  Taken, Democracies Have, Government

  35 Copy quote

• 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

  Doors, Paper, Ruins

  "The writings of George Washington from the original manuscript sources, 1745-1799".

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• The process by which banks create money is so simple that the mind is repelled.

  John Kenneth Galbraith

  Simple, Mind, Bankers

  John Kenneth Galbraith (2017). “Money: Whence It Came, Where It Went”, p.22, Princeton University Press

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• 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

  Reading, Thinking, Ideas

  135 Copy quote

• The modern banking system manufactures money out of nothing.

  Josiah Stamp

  Bankers, Banking, Modern

  18 Copy quote

• What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.

  Ron Paul

  Money, Wall, Class

  Republican Presidential debate in Dearborn, Mich., www.nytimes.com. October 9, 2007.

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• If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible - but there it is.

  Robert W. Hemphill

  Commercial Banks, Bankers, Dollars

  11 Copy quote

• Whoever controls the volume of money in any country is absolute master of all industry and commerce.

  James A. Garfield

  Country, Money, Democracy

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• 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

  Life, Money, Men

  "Economic Sophisms". Book by Frédéric Bastiat, Second series, 1848.

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• I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.

  Woodrow Wilson

  Country, Men, Nwo

  256 Copy quote

• Paper money eventually returns to its intrinsic value - zero.

  Voltaire

  Zero, Historical, Paper

  45 Copy quote

• 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

  Cheating, Class, Gold

  Daniel Webster (1886). “The Wisdom and Eloquence of Daniel Webster”

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• Banks lend by creating credit. They create the means of payment out of nothing.

  Ralph George Hawtrey

  Mean, Creating, Historical

  "National Economy and the Banking System of the United States". Book by Robert Latham Owen, p. 102, 1939.

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• I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country... corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed.

  Abraham Lincoln

  Country, Money, Hands

  687 Copy quote

• 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

  Destiny, Government, Hands

  14 Copy quote

• 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

  Money, Morning, Believe

  84 Copy quote

• Some people think the Federal Reserve Banks are United States Government Institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers.

  Louis Thomas McFadden

  Thinking, Government, People

  "100 Years Is Enough: Time to Make the Fed a Public Utility" by Ellen Brown, www.huffingtonpost.com. December 23, 2013.

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• The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.

  Abraham Lincoln

  Issues, Government, Adoption

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• In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

  Alan Greenspan

  Safety, Gold, Saving

  Ayn Rand, Nathaniel Branden, Alan Greenspan, Robert Hessen (1986). “Capitalism: The Unknown Ideal”, p.94, Penguin

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• I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

  Thomas Jefferson

  Believe, Army, Names

  Thomas Jefferson (1829). “Memoir, Correspondence, and Miscellanies: From the Papers of Thomas Jefferson”, p.277

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• 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

  25 Copy quote

• 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

  70 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

  51 Copy quote