Share on Facebook Share on Twitter Comment on this quoteShare via Email Print this Page Daily Quotes Archives2009-02-11 Feb 11, 2009Madison, agreeing with the journal of the convention, records that the grant of power to emit bills of credit was refused by a majority of more than four to one. The evidence is perfect; no power to emit paper money was granted to the legislature of the United States.~ George BancroftNo state shall emit bills of credit, make any thing but gold and silver coin a tender in payment of debts, coin money...~ United States ConstitutionEmitting bills of credit, or the creation of money by private corporations, is what is expressly forbidden by Article 1, Section 10 of the U.S. Constitution.~ U.S. Supreme Court Feb 10, 2009We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.~ Daniel WebsterWith the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.~ Friedrich August von HayekIs there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including merchants, the industries, and the mills of the country?~ Senator Carter Glass Feb 9, 2009You can fool some of the people all of the time, and all of the people some of the time, and that's good enough.~ Dr. Edwin VieiraLenin 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 KeynesWith the monetary system we have now, the careful saving of a lifetime can be wiped out in an eyeblink.~ Larry Parks Feb 6, 2009Talk is cheap -- except when Congress does it.~ Cullen HightowerLack of money is the root of all evil.~ George Bernard ShawThere is no wealth but life.~ John Ruskin Feb 5, 2009Sovereignty inheres in the right to issue money. And the American sovereignty belongs by right to the people, and their representatives in Congress have the right to issue money and to determine the value thereof. And 120 million, 120 million suckers have lamentably failed to insist on the observation of this quite decided law. ... Now the point at which embezzlement of the nation's funds on the part of her officers becomes treason can probably be decided only by jurists, and not by hand-picked judges who support illegality.~ Ezra PoundWars in old times were made to get slaves. The modern implement of imposing slavery is debt.~ Ezra PoundWhen 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.~ Frederic Bastiat Previous week's quotes Next week's quotes Share on Facebook Tweet Email Print