---
title: "1 Foolproof Quotes By Steve Hanke"
description: "1 Foolproof quotes by Steve Hanke. Plus more from Steve Hanke and more Foolproof sayings from other authors."
image: "https://sms4smile.com/quotes/i/72f/steve-hanke-18876_case_there-has-never-been-a-failure-of-a-curr_764658.jpg"
---

> [There has never been a failure of a currency board anywhere in the world. These are tough systems, and when I say they are foolproof, that's exactly the case.](https://sms4smile.com/quotes/steve-hanke/there-has-never-been-a-failure-of-a-currency-board-anywhere-in-the/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

[Image](https://sms4smile.com/quotes/i/72f/steve-hanke-18876_case_there-has-never-been-a-failure-of-a-curr_764658.jpg)

## More by Steve Hanke

> [In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the…](https://sms4smile.com/quotes/steve-hanke/in-2008-bitcoin-was-mysteriously-introduced-to-the-world-in-an/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [A minimum wage leads to higher levels of unemployment.](https://sms4smile.com/quotes/steve-hanke/a-minimum-wage-leads-to-higher-levels-of-unemployment/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [Since China embraced Deng Xiaoping's reforms on 22 December 1978, China has experimented with different exchange-rate regimes. Until 1994, the yuan was in an…](https://sms4smile.com/quotes/steve-hanke/since-china-embraced-deng-xiaoping-s-reforms-on-22-december-1978/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [Until the Fed dumps inflation targeting and the U.S. abandons its weak-dollar policy, inflation will rule the day.](https://sms4smile.com/quotes/steve-hanke/until-the-fed-dumps-inflation-targeting-and-the-u-s-abandons-its-weak/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets.](https://sms4smile.com/quotes/steve-hanke/with-the-passing-of-milton-friedman-on-november-16-2006-we-lost-one/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [The IMF is set up to deal with liquidity crises.](https://sms4smile.com/quotes/steve-hanke/the-imf-is-set-up-to-deal-with-liquidity-crises/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26%…](https://sms4smile.com/quotes/steve-hanke/contrary-to-what-most-people-think-bank-money-is-much-more-important/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [Trade balances are determined by national savings propensities, not exchange rates.](https://sms4smile.com/quotes/steve-hanke/trade-balances-are-determined-by-national-savings-propensities-not/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the…](https://sms4smile.com/quotes/steve-hanke/in-april-2013-nathaniel-popper-of-the-new-york-times-reported-on/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [Mercantilism was an insidious economic theory that held Europe in its thrall in the 16th, 17th and 18th centuries.](https://sms4smile.com/quotes/steve-hanke/mercantilism-was-an-insidious-economic-theory-that-held-europe-in-its/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.](https://sms4smile.com/quotes/steve-hanke/in-january-2013-one-could-buy-a-bitcoin-for-about-13-by-late-november/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [There has never been a failure of a currency board anywhere in the world. These are tough systems, and when I say they are…](https://sms4smile.com/quotes/steve-hanke/there-has-never-been-a-failure-of-a-currency-board-anywhere-in-the/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long…](https://sms4smile.com/quotes/steve-hanke/during-the-greenspan-bernanke-era-the-fed-has-embraced-the-view-that/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in…](https://sms4smile.com/quotes/steve-hanke/there-is-always-the-potential-for-a-central-bank-to-engage-in/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

> [After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.](https://sms4smile.com/quotes/steve-hanke/after-the-maxi-yuan-depreciation-of-1994-and-until-2005-exchange-rate/)

[Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "ItemList",
            "@id": "https://sms4smile.com/quotes/about/foolproof/steve-hanke/#itemlist",
            "name": "1 Foolproof Quotes By Steve Hanke",
            "numberOfItems": 1,
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "item": {
                        "@type": "Quotation",
                        "text": "There has never been a failure of a currency board anywhere in the world. These are tough systems, and when I say they are foolproof, that's exactly the case.",
                        "creator": {
                            "@type": "Person",
                            "name": "Steve Hanke"
                        },
                        "url": "https://sms4smile.com/quotes/steve-hanke/there-has-never-been-a-failure-of-a-currency-board-anywhere-in-the/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/72f/steve-hanke-18876_case_there-has-never-been-a-failure-of-a-curr_764658.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/72f/steve-hanke-18876_case_there-has-never-been-a-failure-of-a-curr_764658.jpg",
                            "url": "https://sms4smile.com/quotes/i/72f/steve-hanke-18876_case_there-has-never-been-a-failure-of-a-curr_764658.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“There has never been a failure of a currency board anywhere in the world. These are tough systems, and when…” — Steve Hanke",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                }
            ]
        },
        {
            "@type": "CollectionPage",
            "@id": "https://sms4smile.com/quotes/about/foolproof/steve-hanke/#webpage",
            "url": "https://sms4smile.com/quotes/about/foolproof/steve-hanke/",
            "name": "Foolproof Quotes by Steve Hanke",
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "mainEntity": {
                "@id": "https://sms4smile.com/quotes/about/foolproof/steve-hanke/#itemlist"
            },
            "primaryImageOfPage": {
                "@id": "https://sms4smile.com/quotes/i/72f/steve-hanke-18876_case_there-has-never-been-a-failure-of-a-curr_764658.jpg"
            },
            "description": "1 Foolproof quotes by Steve Hanke. Plus more from Steve Hanke and more Foolproof sayings from other authors.",
            "breadcrumb": {
                "@id": "https://sms4smile.com/quotes/about/foolproof/steve-hanke/#breadcrumb"
            }
        },
        {
            "@type": "BreadcrumbList",
            "@id": "https://sms4smile.com/quotes/about/foolproof/steve-hanke/#breadcrumb",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Topics",
                    "item": "https://sms4smile.com/quotes/categories/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "Foolproof",
                    "item": "https://sms4smile.com/quotes/about/foolproof/"
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "name": "Steve Hanke",
                    "item": "https://sms4smile.com/quotes/about/foolproof/steve-hanke/"
                }
            ]
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```