Share on Facebook Share on Twitter Comment on this quoteShare via Email Print this Page Daily Quotes Archives2009-02-13 Feb 13, 2009Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.~ George WashingtonThus, 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 FisherThose who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people.~ Reginald McKenna Feb 12, 2009The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.~ John Kenneth GalbraithThe legal tender quality [of money] is only valuable for the purposes of dishonesty.~ Justice Salmon ChaseMoney power denounces, as public enemies, all who question its methods or throw light upon its crimes.~ William Jennings Bryan 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 Previous week's quotes Next week's quotes Share on Facebook Tweet Email Print