Kenneth Gerbino Quote

Quote from Kenneth Gerbino,

"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."

By:	Kenneth Gerbino (more quotes by Kenneth Gerbino or books by/about Kenneth Gerbino)
	former chairman of the American Economic Council
Categories:	Banking, Economics, Fed, Money, IRS, Taxation
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