Share on Facebook Share on Twitter Comment on this quoteShare via Email Print this Page Daily Quotes Archives2021-05-12 May 12, 2021Madison, 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 BancroftThe Federal Reserve Bank is nothing but a banking fraud and an unlawful crime against civilization. Why? Because they "create" the money made out of nothing, and our Uncle Sap Government issues their "Federal Reserve Notes" and stamps our Government approval with NO obligation whatever from these Federal Reserve Banks, Individual Banks or National Banks, etc.~ H. L. Birum, Sr.Historically, the United States has been a hard money country. Only [since 1913] has the United States operated on a fiat money system. During this period, paper money has depreciated over 87%. During the preceding 140 year period, the hard currency of the United States had actually maintained its value. Wholesale prices in 1913... were the same as in 1787.~ Kenneth Gerbino May 11, 2021Since the federal constitution has removed all danger of our having a paper tender, our trade is advanced fifty percent. Our monied people can trust their cash abroad, and have brought their coin into circulation.~ The Pennsylvania GazetteEndless money forms the sinews of war.~ Marcus Tullius CiceroGovernment price-fixing once started, has alike no justice and no end. It is an economic folly from which this country has every right to be spared.~ Calvin Coolidge May 10, 2021Don't let your mouth write no check that your tail can't cash.~ Bo DiddleyBy virtue of exchange, one man's prosperity is beneficial to all others.~ Frederic BastiatHe who will not economize will have to agonize.~ Confucius May 7, 2021Any one of the strange laws we suffer is a compromise between a fad and a vested interest.~ Gilbert Keith ChestertonThe 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 Chase May 6, 2021I have no sympathy for the narrow, selfish notion of economy which assumes that every crumb of bread which goes into the mouth of one class is so much taken from the mouths of another class.~ Frederick DouglassThe key insight of Adam Smith's Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.~ Milton FriedmanGold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.~ Norm Franz Previous week's quotes Next week's quotes Share on Facebook Tweet Email Print