Currency Quotes - page 7
If I were a dictator, religion and state would be separate. I will die for it. But it is my personal affair. The State has nothing to do with it. The State would look after secular welfare, health, communications, foreign relations, currency and so on, but not your or my religion. That is everybody's personal concern.
Lal Bahadur Shastri
Mehrling: So you didn't read at that time the classic banking texts, for example, Bagehot's Lombard Street?
Volcker: Well I read some of Bagehot, and I read a lot of Hawtrey. I remember I read a lot of Hawtrey.
Mehrling: Currency and Credit? The Art of Central Banking?
Volcker: I don't remember the names of the books, just being in London. In those days I used to read The Economist and the Financial Times, so I kept up with what was going on in the money markets.
Paul Volcker
Soon she saw the dining room light shining through the parted curtains. Its humble glow provoked a goodness in her heart that was no longer calculating or defiant, nor a kind of currency with which to barter and exchange; what she felt was an infinite, poignant affinity for this life that was her family's. No longer did it seem harassed and restricting, but rather made beautiful from start to finish like a lighthouse beam before her. Home would take her in, home would cure her. Her hand on the doorknob, she paused for one long, ineffable moment. Then she pushed open the door. And it was as if an arctic wind chilled her frail efforts to make a fresh beginning.
Gabrielle Roy
Scientific treatment of the subject of currency is impossible without some form of the quantity theory ... but the quantity theory by itself is inadequate, and it leads up to the method of treatment based on what I have called the consumers' income and the consumers' outlay – that is to say, simply the aggregates of individual incomes and individual expenditures.
Ralph George Hawtrey
Modern philosophy, an element due to which the surrounding reality and even the psychology of people are changing. The first ray of light in the kingdom of darkness was the Internet, after a smartphone was proved that a small device the size of a palm can completely replace the TV and computer. All people in the older generation remained alive in television manipulations, not wanting to join in the innovations. 50 years ago, smartphones and the Internet were just sketches of dreamers, as 200 years ago dreamers dreamed of flying ships, which we now call planes, but dreams became reality and now a new dreamer with a Japanese name plans to destroy the main pillar of the monopoly of world-owned corporations by creating an alternative currency .
Maxim Mernes
The December success of Bitcoin was primarily a psychological success, people as if they were not poisoned by the lies of the lack of alternatives to the dollar, the euro, they still understand at heart that any currency is paper. The success of Bitcoin was in this regard the first international rally against the global banking system. But, this could not last long for obvious reasons ... But, there are pluses, now every second Internet user knows about bitcoin, during the next cryptocurrency boom, these people join the movement.
Maxim Mernes
When Turkey buys Iranian oil, we pay for it in Turkish lira... However, it is not possible for Iran to take that money as dollars into its own country due to international restrictions, the U.S.A.s sanctions. Therefore, when Iran cannot take this money back as currency, they withdraw Turkish lira and buy gold from our market.
Ali Babacan
Currency competition and free banking might increase the efficiency of the financial system, and bring some small triangle welfare gains. But the key question is whether their adoption would improve macroeconomic performance. Even though Salin argues (p. 281) that ‘the best system is that which produces the least inflation', fluctuations in output are also expensive.
Hayek states that the adoption of his proposal would end recessions. There is absolutely no reason to believe that. Nineteenth century history is evidence that free banking and currency issue, in the wrong legal and regulatory framework, can produce rather than reduce instability. The proponents of free banking and currency issue in this volume do not go much beyond a general belief in competition in justifying their views; they have certainly not explored the necessary legal and regulatory environment in any detail.
Stanley Fischer
If there is some article of very generally recognised value which actually takes its place, as directly significant, on the scales of a great number of people, it may come to be generally accepted, without any special calculation or consideration, by people who are not thinking of any use they may have for it themselves, but are aware that it occupies a sufficiently high relative place on the scales of others to recoup them for what they give in exchange for it. As soon as this custom begins to be well established it will automatically extend and confirm itself, and the commodity in question will become a "currency" or "medium of exchange," the special characteristic of a medium of exchange being that it is accepted by a man who does not want it, or does not want it as much as what he gives for it, in order that he may exchange it for something he wants more.
Philip Wicksteed
