Our whole system of banks is a violation of every honest principle of banks. There is no honest bank but a bank of deposit. A bank that issues paper at interest is a pickpocket or a robber. But the delusion will have its course. ... An aristocracy is growing out of them that will be as fatal as the feudal barons if unchecked in time.more John Adams quotes
Since 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.more The Pennsylvania Gazette quotes
We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.more Alan Greenspan quotes
In a fiat money society you are more likely to increase your returns by remaining in debt and continuing to chase monetary revenue indefinitely by leveraging more and more funds.more Jorg Guido Hulsmann quotes
You can imagine, then, how this inflation and debt-based system, over time, will begin to change the culture of a society and its behavior.
We become more materialistic than under a natural monetary system. We can’t just sit on our savings anymore, and we have to watch our investments constantly, and think about revenue constantly, because if it is not earning enough, we are actively getting poorer.more Jorg Guido Hulsmann quotes
The new law will create inflation whenever the trusts want inflation...they can unload the stocks on the people at high prices during the excitement and then bring on a panic and buy them back at low prices...the day of reckoning is only a few years removed.more Charles A. Lindbergh, Sr. quotes
The Democratic Party is made up of trial lawyers, labor unions, government employees, big city political machines, the coercive utopians, the radical environmentalists, feminists, and others who want to restructure society with tax dollars and government fiat.more Grover Norquist quotes
Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: "Account Overdrawn.more Ayn Rand quotes
American money was never more sound, or banking more free, than 200 years ago. Since then, it’s been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.more Lew Rockwell quotes
[T]he only security men can have for their political liberty, consists in keeping their money in their own pockets ...more Lysander Spooner quotes
It is said, mostly by Libertarians, that ‘taxation is theft.’ Theft is too mild a word. Typically, a thief strikes only once, and doesn’t pretend that his robbery is legitimate. Taxation is actually slavery.more Rick Tompkins quotes
No state shall ... make any thing but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.more U. S. Constitution quotes
The Congress shall have power: To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;more U. S. Constitution quotes
Series 1863-1934 U.S. Gold Certificate - This is to certify that there have been deposited in the treasury of The United States of America [denomination face value, i.e. Ten Dollars] in gold coin payable to the bearer on demand.
Series 1886-1963 U.S. Silver Certificate - This certifies that there is on deposit in the treasury of The United States of America [denomination face value, i.e. Ten Dollars] in silver payable to the bearer on demand.
Series 1913-1934 Federal Reserve Note - Redeemable in gold on demand at the United States Treasury or in gold or lawful money at any Federal Reserve Bank.
Series 1934-1963 Federal Reserve Note - This note is legal tender for all debts public and private and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank.
Series 1963- Federal Reserve Note - This note is legal tender for all debts, public and private.
more U. S. Currency quotes
It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.more Paul Volcker quotes
The banks -- commercial banks and the Federal Reserve -- create all the money of this nation and its people pay interest on every dollar of that newly created money. Which means that private banks exercise unconstitutionally, immorally, and ridiculously the power to tax the people. For every newly created dollar dilutes to some extent the value of every other dollar already in circulation.more Jerry Voorhis quotes
Fiat Quotes 1-19 out of 19