"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."
Paul Volcker
former Federal Reserve chairman
in the Foreword of "The Central Banks"
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Reader comments about this quote:
5 stars for an obvious truth. Abolish the Fed and its collection wing.
 -- J Carlton, Calgary     
     -- jim k, Austin, Tx      
    We hold this truth to be self evident
     -- Mike, Norwalk     
    Get rid of Dodd-Frank and return competition in the private financial sector. Until this happens there can be no real recovery.
     -- Ken, Spokane     
    More than a little irony in this quote from Paul Volcker who more than helped and enforced the perpetual theft of the privately held and run Federal Reserve Bank.
     -- Mary - MI     
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