Federal Reserve Bank of Philadelphia Quote

“Without the confidence factor, many believe a paper money system is liable to collapse eventually.”

~ Federal Reserve Bank of Philadelphia

Gold!, p. 10, Published by The Federal Reserve Bank of Philadelphia

Ratings and Comments

Mike, Norwalk

Without the confidence factor, and government's misdirection propaganda, complete with induced threat and duress, a paper money system would collapse all most over night.

G Natural, Bloomsbury

Here we go. Another talking bank...What did this bank say? If you don't have confidence and the dollar collapses, it's your own fault because of your lack of confidence. Rubbish! Confidence does not put food on my table. Hard work does.

Mike, Norwalk
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Mike, Norwalk G Natural, Bloomsbury 3/4/24

G Natural, how do you exchange your hard work for the food on your table? Do you use an interim medium? Do you barter your labors at the ranch for meat? Do you barter your labors with different farmers to get your grains and vegetables? Etc.? I guess since you barter your labors for everything, you have no confidence in the medium of exchange (paper notes) that everyone else is using? How do you like the paper inflation going on?

Anonymous, Lake Havasu City

I think that our Founders had a much better understanding of the role of government and currency, due to their God centered education. These quotes only reinforce this belief!

Editor, Liberty Quotes

G Natural, the Federal Reserve Banks do publish pamphets and reports often with no reference to an author. This is one of them.

E Archer, NYC

That's why we call the Fed 'con men' because of the 'confidence game' they have set up. I think G Natural's observation is a good one. However, it points to the blatant propaganda that these 'anonymous' publications attempt to promote.

Roxy, Olympia, WA

Either the Fed and the CONgress are deliberately ruining our economic system or they are really stupid. Nobody is that stupid.

Dan I., Southern NJ

Paper, redeemable for NOTHING, is not money.

Denise M., Durango

Might say the biggest "problem" with our present currency is that the budding communist regime can't track it...hence more of the BS about bit coin, tracking credit cards....as the "government" a couple of years ago tried to "encourage" credit card companies to track anything to do with firearms and or accessories etc. Cash is untraceable and the "government" can't abide that...the once United States of America is under attack...still a bit subtle...and those unconcerned with our Constitutional Rights have no clue.

Fredrick William Sillik, Anytown

Would not a more sophisticated note system of what is being produced and what is being paid be instep with the advances of a more civilized financial balancing methodology.


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