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Monetary Quotables

Discussion in 'General Discussion' started by Ardent Listener, Feb 3, 2006.

  1. Ardent Listener

    Ardent Listener Active Member

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    A collection of quotes from America's Founding Fathers. selected economists and a few notable contemporary leaders.

    All the perplexities confusion and distress in America arise not from defects of the constitution, not from want of honor or virtue, so much as from downwright ignorance of the nature of coin, credit and circulation. - John Adams, in a letter to Thomas Jefferson in 1787

    If the American people ever allow private banks to control the isue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. - Thomas Jefferson

    Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes him with paper money. - Daniel Webster

    The colonies would have gladly born the little tax on tea, and other matters, had it not been that England took away from the colonies their money. - Benjamin Franklin

    This is a favorable moment to shut and bar the door against paper money. The mischeif of the various experiments which have been made are now fresh in the public mind and have excited the disgust of all the respectable parts of America. - Olivar Ellsworth, a delegate from Connecticut, who later became this nation's third Chief Justice of the Supreme Court.

    I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money arstocaracy that has set the goverment at defiance. - Thomas Jefferson, at the Constitutional Convention (1787)

    It's apparent from the whole context of the Constitution as well as the history of the times which gave birth to it, that it was the purpose of the Convention to establish as currency consisting of the precious metals. These were adopted by a permanent rule excuding the use of a perishable medium of exchange, such as of certain aricultural commodities recongnized by the statutes of some states as tender for debts, or the still more pernicious expedient of paper currency. - President Andrew Jackson, 8th Annual Message to Congress (December 5, 1836)

    If what is used as a Medium of exchange is fluctuating in its Value it is no better than unjust Weights and measures, both which are comdemmed by the laws of GOD and Man, and therefore the longest and most universal Custom could never make the Use of such a Medium either lawful or reasonable. - Roger sherman, a delegate from Connecticut and author of the gold and sivler coin provision of the Constitution, wrote a scathing condemnation of paper money entitled" A Caveat (warning) Against Injustice"
     
  2. Ardent Listener

    Ardent Listener Active Member

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    What is robbing a bank compared with founding a bank? - Bertolt Bercht

    Man can live and satisfy his wants only by ceaseless labor; by the ceaseles application of his faculties to natural resources. This process is the orgin of property. But it is also true that a man may live and satisfy his wants by seizing and consuming the products of the labor of others. This process is the orgin of plunder is esier than work. When plunder becomes a way of life for a group of men living in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it. - Federick Bastiat, Economist, Statesman.

    Whoever controls the money in any country is master of all its legislation and commerce. - President James Garfield

    Centrelization of credit in the hands of the state, by means of a national bank, with state capital and an exclusive monopoly. - Karl Marx, 5th Plank of the Communist Manifesto (1848)

    We have in this country one of the msot corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the federal reserve Banks. Some people think the federal Reserve Banks are U.S. goverment institutions. They are private monopolies; domestic swindlers, rich and predatory money lenders which prey up on the people of the United States for the benefit of themselves and their foreign customers. The federal Reserve Banks re the agents of the foreign central banks. The truth is the Federal Reserve Board has usurped the Goverment of the United States by the arrogant credit monopoly which operates the federal Reserve Board. - 75th Congressional Record 12595-12603

    It is well enought that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -Henry Ford
     
  3. Ardent Listener

    Ardent Listener Active Member

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    Silver and gold are not the only coin; virtue too passes current all over the world. - Edipus

    Inflation is the one form of taxation that can be imposed without legislation. - Milton Friedman, Nobel Prize winning economist

    Never ask of money spent-Where the spender thinks it went. Nobody was ever meant-To remember or invent- What he did with every cent.- Robert Frost

    The chief value of money lies in the fact that one lives in a world in which it is overestimated. -H.L. Menchen, Writer, editor, social critic

    Money often costs too much. - Ralph Waldo Emerson

    Today you can go to a gas station and find the cash register open and the toilets locked. They must think toilet paper is worth more than money. - Joey Bishop, Comedian

    Money is like a sixth sense, and you can't make use of the other five without it. - W. Somerset Maugham, Playwrigth of Human Bondage (1915)

    Money does all things for reward, Some are pious and honest as long as they thrive upon it, but if the devil himself gives better wages, they soon charge their party. Seneca, (4B.C.-65-A.D.)

    He that has the opinion money will do everthing may well suspect of doing everything for money.- Benjamin Franklin

    Put not your trust in money, but your money in trust. - Oliver Wendell Homes

    People who never do more than what they get paid for, never get paid for anything more than they do. -Kemmon Wilson, Founder, Holiday Inns.

    Those who have some means think that the most important thing in life is love, the poor know that it is money. - Gerald Breman, English writer

    A flustrated manager complained that every time he provided training, the now highly skilled employed was snatched up by a competitor: The only thing worse than trainging people and having them leave is not taining them and having them stay. - Zig Aiglar, Author, Orator

    If you can actually count your money you are not really a rich man.- J. Paul Getty, Oil Tycoon
     
  4. Ardent Listener

    Ardent Listener Active Member

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    Pennies do not come from heaven, they need to be earned here on earth. - Margaret Thatcher

    Moeny. You can be young without it, but your can't be old without it. - Tennesse Williams

    Gold, like the sun, which melts wax and hardens clay, expands great souls and contracts bad hearts. - Antoine de Rivaroli (1753-1801)

    Our system of credit is concentrated. The growth of the nation, therefore, all our activities are in the hands of a few men. We have come to be one ofthe ruled, one of he most completely controlled and dominated goverment in the cililized world-no longer a goverment by free opinion, no longer a goverment by convection and the vote of the majority, but a goverment by the opinion and duress of small groups of dominant men. - Woodrow Wilson, three years after signing the federal reseve Act into law.

    Money is a good servant but a poor master. -Dominique Bouhours, Author

    If money could talk, it would say Good-bye. - Unknown

    The Treasury prints "In God We Trust" on our currency. God is indeed trustworthy, but trusting an intrinsically worthless currency takes an awful lot more than faith. - Peter Kershaw, Ecomonic Solutions

    A Federal Reserve Note is merely an IOU. here how it works. When the politicians want more money, they dispatch a request to the federal Reserve for whatever sum they desire. The Bureau of Printing and Engraving then prints up bonds indenturing taxpayers to redeem their debts. The bonds are then "sold" to the Federal Resdrve. But this unusual twist-the bonds are paid for with a check backed by nothing! It is just as if you were to look into your account and write a draft for $1 billion. Of course, if you did that, you would go to jail. The bankers do not. In effect, they print the money that enables their check to clear. -James Dale Davidson, director, National Taxpayer's Union


     
  5. Ardent Listener

    Ardent Listener Active Member

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    The one aim of these financiers is world control by the creation of inextinguishable debts.- Henry Ford


    The privilege of creating and issuing money is not only the supreme prerogative of Goverment, but is the Goverment's greatest creative opportunity. By the adoption of these principles, the taxpayers will be saved immense sums of interest.- President Abraham Lincoln (prior to the Federal Reserve)

    About all a Federal Reserve note (current dollar not backed by gold or silver) can legally do is wipe out one debt and replace it with itself, another debt; a note that promises nothing. If anything has been paid, the payment occurs only in the minds of the parties-in the ideaspere-not the real world. - Tupper Saucy, the Miracle on Main Street

    A great fortune is a great slavery. - Seneca

    Inflation is a method of taxation which the goverment uses to secure the comand over real resources; resources just as real as those obtained by ordinay taxation. What is raised by printing notes is just as much taken from the public, as an income tax. A goverment can live by this means, when it can live by no other. It is the form of taxation that the public finds hardest to evade, and even the weakest ovement can enforce it whenit can enforce no other. By a continuous process of inflation, goverment can confiscate secretly and unobserved an important part of h wealth of their citizens. By this method, they not only confiscate, they confiscate arbitrarily, and while the confiscation impoverishes many, it enriches some. Lenin was certainly right 'there is no surer way of overturning a society, than to debauch the currency.' The process enganges all the hidden forces of economic law on the side of destruction, and does so in such a manner than only one man in in a million is able to diagnose it. - John Maynard Keynes, The Economic Consequences of Peace (credited for the birth of modern economics)

    The Bureau prints approxiamately sixteen millon notes each day. The Bureau has the power to create money and almost any amount of it. The only limiting factors are the speed of the presses, and the public's willingness to accept it. -Goverment Securities, U.S. Bureau of Engraving
     
  6. Ardent Listener

    Ardent Listener Active Member

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    Without the confidence factor, many believe a paper money system will eventually collapse. Present experience indicates this system can operate without a gold guarantee however, and that the only confidence required is a firm conviction that money will be accepted in payment for goods and services. - Gold, Federal Reserve Bank of Philadelphia

    Goverment is the only agency that can take a valuable commodity like paper, slap some ink on it, and make it totally worthless. - Ludwig von Mises, Austrian Economist

    A good man leaves an inheritance for his children's children. - Proverbs 13:22

    Strickly speaking, the 'goverment' of the United States (or of any State or locality) is a kind of 'legal fiction.' It is not the individuals elected or appointed to office, the physical buildings they occupy, or the aactuibs they take oer se, Rather, the 'goverment,' rightly understood, is the set actions duly elected or appointed officials take that are consistant with the Constitution. If an action is inconsistent with the Constitution, it is unlawful and non-governmental, by definition. Such a unconstitutional action may be defined as usurpation or tyranny, but never as a truly govermental act. Simply put, our goverment has no authority to act outside of or agents goverment, not as lawbreakers or outlaws. In the most fundamental sense, the United States need no 'reform' law, or 'restoration' law, to return to sound money. For the necessary law already exists, in the Constitution itself. What stands in the way of monetary freedom ...is not law, but lawlessnes; not goverment, but usurpation and tyranny. - Dr. Edwin Vieira, Jr., Director, National Alliance for constitutiona Money

    In the beginning of a change, the patriot is a scarce man; brave, hated and scroned. When his cause succeeds, however, the timid join him, for then it cost nothing to be a patriot. - Mark Twain
     
  7. Ardent Listener

    Ardent Listener Active Member

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    A miser grows rich by seeming poor; an extravangant man grow poor by seeming rich. - William Shenstone, (1714-1763) Author, Poet

    Whatever you have, spend less. -Samual Johnson, 18th century English Author (most quoted next to Shakespeare).

    I was part of that strange race of people aptly described as spending their lives doing things they detest to make money they don't want to buy things they don't need to impress people they dislike. - Emile Henry Gauvreay

    A small debt produces a debtor, a large on, an enemy. - Publius Syrus (42 B.C.)

    People come to poverty in two ways: accumulating debts and paying them off. - Jewish Proverb

    Annual income twenty pounds, annual expenditure nineteen and six, results happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. - Charles Dickens, David Copperfield

    Every man is the architect of his own fortune. -Appius Claudius Caecus, 'Speech to caesar on the State'

    Money was made, not to command our will, But all our lawful pleasures to fulfill. Shame and woe to us, if we our wealth obey; The horse donth with the horseman away. - Abraham Cowley, 17th Century English Writer

    If you'd know the value of money, go and borrow some. - Benjamin Franklin, Poor Richard's Alamanac

    A bank is a place that will lend you money of you can prove that you don't need it. -Bob Hope

    Money is a handmaiden, if thou knowest how to use it; a mistress, if thous knowest not. -Horance, (65 B.C.-8 A.D.)

    No man's credit is as good as his money. -Edgar Watson Howe (1853-1937)

    What makes all doctrines plain and Clear? About two hundred pounds a year. And that which was proven true before, prove false again? Two hundred more. - Samual Johnson
     
  8. Ardent Listener

    Ardent Listener Active Member

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    When it is a question of money, everyone is of the same religion. -Voltaire

    One man's wage increase is another man's price increase. - Harold Wilson (1916-1995) British Statesman

    Labor is prior to, and independent of capital. Capital is only the fruit of labor, and could never have exsisted if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. - Abraham Lincoln

    When a man tells you he is rich through hard work, ask him: 'Whose?' -Don Marquis

    Giving money and power to goverment is like giving whiskey and car keys to teenage boys. -P.J. O'Rourke

    A feast is made for laughter, and wine maketh maery: but money answerth all things. -Ecclesiastes 10:19

    The love of money is the root of all evil. - 1 Timothy 6:10

    Human relationships transcend currencies. - Dennis Peacocke, Strategist

    A man is usually more careful of his money than he is of his principles. -Edgar Watson Howe

    Money is a singular thing. It ranks with love as man's greatest source of joy. And with death as his greatest sorce of anxiety. - John Kenneth Galbraith, The Age of Uncertainity

    Money couldn't buy friends but you got a better class of enemy. - Spike Millian, Puckoon

    Today we have an ocult money system, no doubt about of. - R.E. McMaster Jr., Economist, The Reaper

    Never invest your money in anything that eats or needs repainting. -Billy Rose, in New York Post

    There was a time when a fool and his money wer soon parted, but now it happens to everybody. -Adlai E. Stevenson

    There are two times in a man's life when he should not speculate: when he can't afford it, and when he can. - Mark Twain, Following the Equator
     
  9. Ardent Listener

    Ardent Listener Active Member

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    A study of economics usually reveals that he best time to buy anything is last year. - Marty Allen.

    It's a recession when your neighbor loses his job; it's a depression when you lose your own. -Harry S. Truman

    The individual serves the industrial system not by supplying it with savings and the resulting capital; he serves it by consuming its products. -John Kenneth Galbraith, The New Industrial State

    Inflation is like sin; every goverment denounces it and every goverment practices it. -Federick Leith-Ross, The observer

    An economist is a man who states the obvious in terms of incomphrehensible. - Alfred A knopf

    Debt is the fatal disease of all republics, the first thing and the mightist to undernmine goverments and corupt people. - Philips, Wendell

    The only function of economic forecasting is to make astrology look respectable. - John Kenneth Galbraith

    When the President signs this act, the invisible goverment by the money power will be legalized. - Con. Charles A Linbergh, Sr. father of the famed aviator.

    At one time bankers were merely middlemen. They made a profit by accepting gold coins brought to them for safekeeping and lending them to borrowers. But soon fond that the receipts they issued to depositors ere being used as a means of payment. These receipts were acceptable as money since whoever held them could go to the banker and exchange them for metalic money. -Modern Money Merchanics, published by the Federal Reserve Bank of Chicago page 4.
     
  10. Ardent Listener

    Ardent Listener Active Member

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    The definition of the word "dollar" has undegone such a transformantion to hide the fact that it is not money, but a unit of measurement for gold and silver coin. Locically, if there are no gold and silver coins, there are no dollars of anything. Dollarss cannot be money any moe than quarts can be milk. A unit of measurement cannot replace or become the "thing" for which it is a measure.

    However, in the mind of he public, this is exactly what has happened. People have been led to believe that a dollar is both money and a measure of it. This is what George Orwell called "double-think," where the mind is infiltrated with conflicting concepts. A dollar unit of paper money that is nto one hundred percent redeemable in gold or silver coin is a dollar unit of inflation, which is a dollar unit of credit, which is a dollar unit of NOTHING.

    The sole function of paper money that is not one-hundred percent redeembale in gold or silver coin is to get things without paying for them. Those who issue and control paper money as credit get everthing for nothing. How the U.S. Goverment borrows money from the Federal Reserve is no much different from the Abbott and Costello conddy sketch in their movie "Buck Privates" where Bud Abbott want to borrow fifty dollars form Lou Costello.

    Bud: Do me a favor. Loan me fifty dollars.
    Lou: I can't lend you fifty dollars.
    Bud: Yes, you can.
    Lou: No, I can't. All I got is forty dollars.
    Bud: All right. Give me the forty dollars and you can owe me ten.
    Lou: O.K. I owe you ten.
    Bud: That's right.
    Lou: How come I owe you ten?
    Bud: That's right.
    Lou: How come I owe you ten?
    Bud: What did I ask for?
    Lou: Fifty
    Bud: And how much did you give me?
    Lou: Forty
    Bud: So you owe me ten dollars.
    Lou: That's right. Well you owe me forty.
    Bud: Now, don't change the subject.
    Lou: I'm not changing the subject. You're trying to change my finances.
    Come now. Give me my forty dollars.
    Bud: All right. There's your fourty dollars. Give me the ten dollars you
    owe me.
    Lou: I'm paying you on account.
    Bud: On account?
    Lou: On account that I don't know how I owe it to you.
    Bud: That's the way you feel about it. It's the last time I'll ever ask you
    for the loan of fifty dollars.
    Lou: Wait a minute, Smitty. How can I loan you fifty dollar now? All I
    have is thirty.
    Bud: Well, give me the thirty, and you owe me twenty.
    Lou: O.K., this is getting worse al the time. First, I owe him ten; now I
    owe him wenty.
    Bud: Well, why do you run yourself into debt?
    Lou: I'm not running in. Your're pushing me.
    Bud: I can't help it if you can't handle your finances. I do all right with
    my money.
    Lou: And you're doing all right with mine too.
    Bud: Now wait a minute. I ask you for the loan of fifty dollars and you
    and you gave me thirty. So you owe me twenty dollars. Twenty
    and thirty is fifty.
    Lou: No, no, no.........



    All of the above came from the book- Rediscovering Gold In The 21st Century by Craig R. Smith

    One last quote....I'm old enough to know you can't change the thinking of fools, but young enough (and foolish enough) to keep on trying. Arthur Jones
     
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