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"Some regard private enterprise as if it were a predatory tiger to be shot. Others look upon it as a cow that they can milk. Only a handful see it for what it really is--the strong horse that pulls the whole cart."
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"If the State uses this power systematically in order to force the community to accept a particular sort of money whose employment it desires for reasons of monetary policy, then it is actually carrying through a measure of monetary policy. The States which completed the transition to a gold standard a generation ago, did so from motives of monetary policy. They gave up the silver standard or the credit-money standard because they recognized that the behaviour of the value of silver or of credit money was unsuited to the economic policy they were following."
"A metallic money, the augmentation or diminution of the quantity of metal available for which is independent of deliberate human intervention, is becoming the modern monetary ideal. The significance of adherence to a metallic-money system lies in the freedom of the value of money from State influence that such a system guarantees."
"A third group of inflationists do not deny that inflation involves serious disadvantages. Nevertheless, they think that there are higher and more important aims of economic policy than a sound monetary system. They hold that although inflation may be a great evil, yet it is not the greatest evil, and that the State might under certain circumstances find itself in a position where it would do well to oppose greater evils with the lesser evil of inflation."
"But when States did debase the coinage, it was always from purely fiscal motives. The government needed financial help, that was all; it was not concerned with questions of currency policy."
"A variation in the objective exchange-value of money can arise only when a force is exerted in one direction that is not cancelled by a counteracting force in the opposite direction. If the causes that alter the ratio between the stock of money and the demand for it from the point of view of an individual consist merely in accidental and personal factors that concern that particular individual only, then, according to the law of large numbers, it is likely that the forces arising from this cause, and acting in both directions in the market, will counterbalance each other."
"We can't get to the $4 trillion in savings that we need by just cutting the 12 percent of the budget that pays for things like medical research and education funding and food inspectors and the weather service. And we can't just do it by making seniors pay more for Medicare."
"He who cares to go to the trouble of demonstrating the uselessness of index numbers for monetary theory and the concrete tasks of monetary policy will be able to select a good proportion of his weapons from the writings of the very men who invented them."
"And the reason Luke is thinking about time and free will is because he believes that money is the closest human beings have ever come to crystallizing time and free will into a compact physical form. Cash. Cash is a time crystal. Cash allows you to multiply your will, and it allows you to speed up time. Cash is what defines us as a species. Nothing else in the universe has money."
Explore more quotes by Winston Churchill
"Extolling the virtues of conservation of energy, Churchill advised, "Never stand when you can sit, and never sit when you can lie down."
"Now at this very moment I knew that the United States was in the war, up to the neck and in to the death. So we had won after all! ... How long the war would last or in what fashion it would end no man could tell, nor did I at this moment care ... We should not be wiped out. Our history would not come to an end ... Hitler's fate was sealed. Mussolini's fate was sealed. As for the Japanese, they would be ground to a powder. All the rest was merely the proper application of overwhelming force."
"We seek no treasure, we seek no territorial gains, we seek only the right of man to be free; we seek his rights to worship his god, to lead his life in his own way, secure from persecution. As the humble labourer returned from his work when the day is don, and sees the smoke curling upwards from his cottage home in the serene evening sky, we wish him to know that no rat-a-tat of the secret police upon his door will disturb his leisure or interrupt his rest."
"In the long years to come, not only will the people of this island but of the world, wherever the bird of freedom chirps in human hearts, look back to what we've done, and they will say 'do not despair, do not yield...march straightforward."
"Victory at all costs, victory in spite of all terror, victory however long and hard the road may be; for without vicory there is no survival."
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