Cash Quotes - page 3
"For Russia, therefore, this building of heavy industries at a tremendous pace meant a very great sacrifice. All this construction, all this machinery that came from outside, had to be paid for, and paid for in gold and cash. How was this to be done? The people of the Soviet Union tightened their belts and starved and deprived themselves of even necessary articles so that payment could be made abroad. They sent their food-stuffs abroad, and with the price obtained for them paid for the machinery. They sent everything they could find a market for: wheat, rye, barley, corn, vegetables, fruits, eggs, butter, meat, fowls, honey, fish, caviare, sugar, oils, confectionery, etc. Sending these food articles outside meant that they themselves did without them. The Russian people had no butter, or very little of it, because it went abroad to pay for machinery. And so with many other goods...
Jawaharlal Nehru
To the existence of banks of discount for cash... there can be no objection, because there can be no danger of abuse, and they are a convenience both to merchants and individuals. I think they should even be encouraged, by allowing them a larger than legal interest on short discounts, and tapering thence, in proportion as the term of discount is lengthened, down to legal interest on those of a year or more. Even banks of deposit, where cash should be lodged, and a paper acknowledgment taken out as its representative, entitled to a return of the cash on demand, would be convenient for remittances, travelling persons, etc. But, liable as its cash would be to be pilfered and robbed, and its paper to be fraudulently re-issued, or issued without deposit, it would require skilful and strict regulation.
Thomas Jefferson
Ron Paul: ...you have to develop the transition, and eventually the next step would be to prohibit the Fed from monetizing debt. This is the real evil. The politicians spend for war, welfare, and they don't have to do it responsibly.
Question: When you say monetize the debt, you mean they would only be able to spend the cash that they had on hand. They couldn't write any cheques for which they don't have in their account any money?
Ron Paul: That's right. And that is the key to it. Because when the Fed comes along, and there's starvation for capital and liquidity, and politicians are spending too much, the Fed can create 20, 30, 50 billion dollars in a day, just like they did trying to bail out this housing bubble crash. So they create money out of thin air endlessly, eventually that has to stop because that drives the value of the dollar down.
Ron Paul