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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."
"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."
"What is thus improperly regarded as profit, instead of as part of capital, is consumed by the entrepreneur or passed on either to the consumer in the form of price-reductions that would not otherwise have been made or to the labourer in the form of higher wages, and the government proceeds to tax it as income or profits. In any case, consumption of capital results from the fact that monetary depreciation falsifies capital accounting."
"Machinery which is not used is not capital."
Explore more quotes by Anonymous
"Arguing with one's self is beneficial.Out of all the million voices in my head screaming for your death, you're lucky I heeded the one that wants to spare you this time."
"For the rest, brethren, whatsoever things are true, whatsoever modest, whatsoever just, whatsoever holy, whatsoever lovely, whatsoever of good fame, if there be any virtue, if any praise of discipline: think on these things."
"At times, the confident lose confidence, the patient lose their cool, the generous act selfish, and the knowledgeable second guess what they know. And guess what? We're all human. We all make mistakes, we lose our tempers, and we get caught off guard. We stumble, we slip, and we spin out of control sometimes. But that's usually the worst of it. We all have our moments. Most of the time, we're remarkable. So stand beside the people you love through their trying times of imperfection, and offer yourself the same courtesy. For more tips on how to live a productive life, read "The Angel Affect" and join the mission."
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