Monetary Quotes - Page 3

• Monetary rewards are not a substitute for intrinsic motivation.

  W. Edwards Deming

  Motivation, Rewards, Management

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• In practice [monetary management] is merely a high-sounding euphemism for continuous currency debasement. It consists of constant lying in order to support constant swindling. Instead of automatic currencies based on gold, people are forced to take managed currencies based on guile. Instead of precious metals they hold paper promises whose value falls with every bureaucratic whim. And they are suavely assured that only hopelessly antiquated minds dream of returning to truth and honesty and solvency and gold.

  Henry Hazlitt

  Dream, Honesty, Lying

  "What You Should Know about Inflation".

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• One of the worst forms of mental suffering is boredom, not knowing what to do with oneself and one's life. Even if man had no monetary, or any other reward, he would be eager to spend his energy in some meaningful way because he could not stand the boredom which inactivity produces.

  Erich Fromm

  Meaningful, Men, Knowing

  Erich Fromm (2012). “The Sane Society”, p.282, Routledge

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• The available supply of gold and silver being wholly inadequate to permit the issuance of coins of intrinsic value or paper currency convertible into coin of intrinsic value or paper currency convertible into coin in the volume required to serve the needs of the People, some other basis for the issue of currency must be developed, and some means other than that of convertibility into coin must be developed to prevent undue fluctuation in the value of paper currency or any other substitute for money intrinsic value that may come into use.

  Abraham Lincoln

  Mean, Issues, People

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• No duty is more imperative for the government than the duty it ;owes the people to furnish them with a sound and uniform currency, an of regulating the circulation of the medium of exchange so that labor will be protected from a vicious currency [private bank-created, interest-bearing debt], and commerce will be facilitated by cheap and safe exchanges.

  Abraham Lincoln

  Government, People, Sound

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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

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• A power has risen up in the government greater than the people themselves, consisting of many and various powerful interests, combined in one mass, and held together by the cohesive power of the vast surplus in banks.

  John C. Calhoun

  Powerful, Government, People

  John C. Calhoun “The Works of John C. Calhoun Volume 2”, Jazzybee Verlag

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• You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.

  George Bernard Shaw

  Respect, Money, Honesty

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• We made a decision that monetary policy will be made by an independent European Central Bank.

  Gerhard Schroder

  Independent, Decision, Made

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• Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.

  Amity Shlaes

  Country, Independent, Europe

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• I don't like money actually, but it quiets the nerves.

  Joe E. Lewis

  Funny, Money, Nerves

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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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• The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit. The more inflation progresses, the higher rises the national income.

  Ludwig von Mises

  Progress, Income, Making Money

  Ludwig Von Mises (1962). “The Ultimate Foundation of Economic Science: An Essay on Method”

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• The Trilateralist Commission is international...(and)...is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States. The Trilateralist Commission represents a skillful, coordinated effort to seize control and consolidate the four centers of power - political, monetary, intellectual, and ecclesiastical.

  Barry Goldwater

  Order, Nwo, World Government

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• Ever since its founding in 1913, the Fed has described itself as an "independent" agency operated by selfless public servants striving to "fine-tune" the economy through monetary policy. In reality, however, a non-political governmental institution is as likely as a barking cat.

  Thomas DiLorenzo

  Cat, Independent, Reality

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• ...monetary exchanges have interesting things in common; Gresham's law, if true, says what one of these interesting things is. But what is interesting about monetary exchanges is surely not their commonalities under physical description. A natural kind like a monetary exchange could turn out to be co-extensive with a physical natural kind; but if it did, that would be an accident on a cosmic scale.

  Jerry Fodor

  Knowledge, Law, Interesting

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• Capital has its proper place and is entitled to every protection. The wages of men should be recognized in the structure of and in the social order as more important than the wages of money [interest].

  Abraham Lincoln

  Men, Order, Important

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• Money possesses no value to the state other than that given to it by circulation.

  Abraham Lincoln

  States, Given, Circulation

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• For complex reasons, our culture allows "economy" to mean only "money economy." It equates success and even goodness with monetary profit because it lacks any other standard of measurement. I am no economist, but I venture to suggest that one of the laws of such an economy is that a farmer is worth more dead than alive. A second law is that anything diseased is more profitable than anything that is healthy. What is wrong with us contributes more to the "gross national product" than what is right with us.

  Wendell Berry

  Success, Mean, Law

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• The lack of monetary discipline has become a hallmark of unfettered globalization. Central banks have failed to provide a stable underpinning to world financial markets and to an increasingly asset-dependent global economy.

  Stephen S. Roach

  Discipline, World, Financial

  Stephen S. Roach (2010). “Stephen Roach on the Next Asia: Opportunities and Challenges for a New Globalization”, p.28, John Wiley & Sons

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• We are talking about an awesome power. It is the power to weave illusions that appear real as long as they last. That is the very core of the Fed's power. Of course not everyone is instinctively against this illusion-weaving power, and many even welcome it. Tragically, the innocent who understand little about the complexity of the monetary system suffer the most, while those who are in the know reap great profit whether the market is going up or down.

  Ron Paul

  Money, Real, Power

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• Goodness is weakness, pleasantness is poisonous, serenity is mediocrity and kindness is for losers. The best reason for committing loathsome and detestable acts – and let’s face it, I am considered something of an expert in this field – is purely for their own sake. Monetary gain is all very well, but it dilutes the taste of wickedness to a lower level that is obtainable by almost anyone with an overdeveloped sense of avarice. True and baseless evil is as rare as the purest good.

  Jasper Fforde

  Kindness, Evil, Serenity

  "The Eyre Affair". Book by Jasper Fforde, July 19, 2001.

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• The monogram of our national initials, which is the symbol for our monetary unit, the dollar, is almost as frequently conjoined to the figures of an engineer's calculations as are the symbols indicating feet, minutes, pounds, or gallons. ... This statement, while true in regard to the work of all engineers, applies particularly to that of the mechanical engineer.

  Henry R. Towne

  Feet, Dollars, Pounds

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• 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

  Historical, Promise, Banking

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• A lot of joblessness in the black community doesn't seem to be reachable through fiscal and monetary policies. People have not been drawn into the labor market even during periods of economic recovery.

  William Julius Wilson

  Recovery, People, Community

  Interview with Gerald Early, www.motherjones.com. September/October, 1996.

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