Adequate Quote by Jacob Schiff
“Unless we have a Central Bank with adequate control of credit resources, this country is going to undergo the most severe and far reaching money panic in its history.”
About This Quote
Source Speech: Financial Conference, 1930
Without strong central bank control over credit, a severe money panic is inevitable.
In simple terms: Lack of credit control causes panic.
Advocate for robust monetary policy.
Themes
Mood
Type
When to use this quote
- government policy
- banking regulation
- economic forecasting
- crisis prevention
Key Concepts
Questions to Reflect On
- What safeguards can prevent credit misuse?
- How does credit control affect inflation?
Political constraints may limit bank independence.