Political union means transferring the prerogatives of national legislatures to the European parliament, which would then decide how to structure Europe's fiscal, banking, and monetary union.
Many emerging countries are facing the same issue of overheating and inflation because they have been vigorously expanding fiscal and monetary policy to counter the 2008 shock.
I suppose the pursuit of fashion has always carried a price, monetary or otherwise.
Monetary success is not success. Career success is not success. Life, someone that loves you, giving to others, doing something that makes you feel complete and full. That is success. And it isn't dependent on anyone else.
Nevertheless, if we contemplate a society with a somewhat stable wage-unit, with national characteristics which determine the propensity to consume and the preference for liquidity, and with a monetary system which rigidly links the quantity of money to the stock of the precious metals, it will be essential for the maintenance of prosperity that the authorities should pay close attention to the state of the balance of trade. For a favourable balance, provided it is not too large, will prove extremely stimulating; whilst an unfavourable balance may soon produce a state of persistent depression.
Thanks to the central bank, most "monetary experts" and "leading macro-economists" can, by putting them on the payroll, be turned into government propagandists "explaining," like alchemists, how stones (paper) can be turned into bread (wealth).
Perhaps the moral ambiguity of money is most plainly evidenced in the popular belief that money itself has value and that the worth of other things or of men is somehow measured in monetary terms, rather than the other way around.
Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.
All of the government's monetary, economic and political power, as well as its extensive propaganda machinery, will be enlisted in a constant battle to drive down the price of gold - but in the absence of any fundamental change in the nation's monetary, fiscal, and economic direction, simply regard any major retreat in the price of gold as an unexpected buying opportunity.
Entrepreneurs are motivated by independence as well as challenge, knowing they are ultimately responsible for themselves. Monetary success is certainly helpful, but it often becomes more of a score card than anything else.
I think the American Dream used to be achieving one's goals in your field of choice-and from that all other things would follow. Now, I think the dream has morphed into the pursuit of money: Accumulate enough of it, and the rest will follow. We've become more materialistic. For balance, I think we need to get back to idealism and patriotism, but also be realistic with our monetary goals.
The American people have no idea they are paying the bill. They know that someone is stealing their hubcaps, but they think it is the greedy businessman who raises prices or the selfish laborer who demands higher wages or the unworthy farmer who demands too much for his crop or the wealthy foreigner who bids up our prices. They do not realize that these groups also are victimized by a monetary system which is constantly being eroded in value by and through the Federal Reserve System.
Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.
Art is not about objects of high monetary exchange. It's about reasserting our firsthand experience in present time.
Managing your money does not depend upon becoming wealthy or declaring vows of poverty. Rather, it is about creating stability and sufficiency - a balanced flow of monetary energy through your life.
The deepest principle in human nature is the craving to be appreciated."Mark McCormack, Author and sports entrepreneur"Psychologists tell us that money is a satisfier, not a motivator... Recognition is. That's why we do what we do... Recognition is critical to self-esteem. Without it, we feel undervalued, even insignificant. Money is nice, sure. But once you establish a basis of monetary rewards, without the accompanying verbal and social affirmation, the employee will quickly become disgruntled and ask for more. Eventually, more will never be enough.
The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain.
Deficit financing proper is rather the process whereby a Government spends more money that it withdraws from the economy by taxation, borrowing, running down reserves, etc.; thereby causing in most circumstances, and very acutely in ours, monetary inflation and severe pressure on the balance of payments.
Business, endorsements and things of that nature, I got into it kinda naturally. Those ventures materialised as a direct result of things that I was actually doing; all the partnerships have been organic and not necessarily etched out plans for monetary gain.
For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.
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.
No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.
Inflation is a monetary phenomenon. It is made by or stopped by the central bank.
Look at any financial institution, at any bank. They're all photocopies of each other. There's no diversity of institutions and even less diversity of currency. Therefore, just as you say its very logical that an ecosystem like this will collapse, it's very predictable a monetary system like this will collapse, too. And it hasn't finished collapsing, by the way.
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