Federal Reserve Bank of Philadelphia Quote

"Without the confidence factor, many believe
a paper money system is liable to collapse eventually."

by:	Federal Reserve Bank of Philadelphia
Source:	Gold!, p. 10, Published by The Federal Reserve Bank of Philadelphia
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Categories:	Economics, Fed, Money
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Reader comments about this quote:

-- Anonymous
Without the confidence factor, and government's misdirection propaganda, complete with induced threat and duress, a paper money system would collapse all most over night. -- Mike, Norwalk
Here we go. Another talking bank...What did this bank say? If you don't have confidence and the dollar collapses, it's your own fault because of your lack of confidence. Rubbish! Confidence does not put food on my table. Hard work does. -- G Natural, Bloomsbury
I think that our Founders had a much better understanding of the role of government and currency, due to their God centered education. These quotes only reinforce this belief! -- Anonymous, Lake Havasu City
G Natural, the Federal Reserve Banks do publish pamphets and reports often with no reference to an author. This is one of them. -- Editor, Liberty Quotes
That's why we call the Fed 'con men' because of the 'confidence game' they have set up. I think G Natural's observation is a good one. However, it points to the blatant propaganda that these 'anonymous' publications attempt to promote. -- E Archer, NYC
Either the Fed and the CONgress are deliberately ruining our economic system or they are really stupid. Nobody is that stupid. -- Roxy, Olympia, WA
Paper, redeemable for NOTHING, is not money. -- Dan I., Southern NJ