"It is a sobering fact that the prominence……" — Paul Volcker
"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."
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Paul Volcker
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15 Quotes by Paul Volcker
Paul Volcker has 15 quotes on this site.
A few more worth reading:
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A global economy requires a global currency.
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That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a…
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The only thing useful banks have invented in 20 years is the ATM.
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If, at the end of the day, we need to raise taxes, we should raise taxes.
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I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth —…
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When I hear complaints about less liquidity, remember there is such a thing as too much liquidity.
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The standard of living of the average American has to decline.
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Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis…
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It was the biggest inflation and the most sustained inflation that the United States had ever had.
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Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp…
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I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the…
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The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the…
See all 15 quotes by Paul Volcker »
More All Quotes
This quote is filed under All Quotes,
one of 128,558 quotes in that category. Here are a few more:
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Total loyalty is possible only when fidelity is emptied of all concrete content, from which changes of mind might naturally…
— Hannah Arendt
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No cause is left but the most ancient of all, the one, in fact, that from the beginning of our…
— Hannah Arendt
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The ultimate end of human acts is eudaimonia, happiness in the sense of living well, which all men desire; all…
— Hannah Arendt
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The new always happens against the overwhelming odds of statistical laws and their probability, which for all practical, everyday purposes…
— Hannah Arendt
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Where all are guilty, no one is; confessions of collective guilt are the best possible safeguard against the discovery of…
— Hannah Arendt
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We have almost succeeded in leveling all human activities to the common denominator of securing the necessities of life and…
— Hannah Arendt
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I keep my friends as misers do their treasure, because, of all the things granted us by wisdom, none is…
— Pietro Aretino
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We must all make peace so that we can all live in peace.
— Jean-Bertrand Aristide
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The spirit of Ubuntu, that once led Haiti to emerge as the first independent black nation in 1804, helped Venezuela,…
— Jean-Bertrand Aristide
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As we all know, many people remain buried under tons of rubble and debris, waiting to be rescued. When we…
— Jean-Bertrand Aristide
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Wise people, even though all laws were abolished, would still lead the same life.
— Aristophanes
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A friend to all is a friend to none.
— Aristotle
See all 128,558 All Quotes »
