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124,653. The root problem with conventional currencies is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Satoshi Nakamoto, white paper, cited The New York Times 1 July 2018
31,488. In the autumn of 1967 Wilson and his chancellor James Callaghan were finally forced into devaluation: what concerned Wilson more than anything was how to present this surrender to the British people. (Great Britain & England & Politics & Currency & 1960s) Heath vs. Wilson: The 10 Year Duel
31,606. The £ had fallen below $2 ... The IMF sent six international bankers to look at Britain’s books. (Great Britain & England & 1970s & Currency) Dominic Sandbrook, The 70s III: Goodbye Great Britain 75-77
33,030. For years the mighty US dollar has ruled the world. But what if Saddam did have a weapon of mass destruction that would not only have threatened the position of the dollar, but American military might as well? ... The war was actually about protecting the global supremacy of the US dollar ... If you want to buy oil on the international market, the currency is the US dollar. But what would happen if some other currency threatened that position? (Iraq & Oil & Dollar & Currency) Conspiracies – Iraq
33,031. The US has always needed to keep a firm hand on the trading of its oil dollars. But in November 2000 the most serious attack on the sacred dollar was about to take place. If left unchecked it could have been an economic Pearl Harbor. After years of struggling under crippling sanctions, Saddam Hussein decided to use the one WMD that no-one had ever looked for or thought about – the Euro. With the mighty dollar’s position as the world’s number one suddenly under threat, did a ripple of fear go through the Bush administration? (Iraq & Oil & Dollar & Currency) ibid.
38,586. The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers.
The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity.
By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges.
The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matter of practical administrators.
The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity.
Democracy will rise, superior to the money power. (Government & Currency & Money & Banksters & Federal Reserve) Abraham Lincoln
41,415. Let me control a peoples currency and I care not who makes their laws. (Money & Currency & Banksters) Meyer Nathaniel Rothschild, speech to gathering of world banksters 12th February 1912
41,479. I believe that banking institutions are more dangerous than standing armies ... If the American people ever allow private banks to control the issue of currency ... The banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered. (Money & Banksters & United States of America & Currency & Federal Reserve) Thomas Jefferson, attributed and patchwork of three separate letters
41,492. The underlying idea in the greenback philosophy ... is that the issue of currency is a function of the government, a sovereign right which ought not to be delegated to corporations. (Money & Banksters & Federal Reserve & Currency) Professor Davis Rich Dewey, MIT
41,499. All the perplexities, confusion and distress in America arise, not from the defects of the Constitution or confederation, not from want of honor or virtue, so much as from the downright ignorance of the nation, of coin, credit and circulation. (Money & Business & Currency) John Adams
41,531. It was a totally fiat currency ... The colonies had been drained of gold and silver coin by British taxation. (Money & Debt & Banksters & Economy & Federal Reserve & Currency) William T Still, The Money Masters
41,533. The bank [of America] was given a monopoly over the American currency. (Money & Debt & Banksters & Economy & Federal Reserve & Currency & Monopoly) ibid.
41,607. We use national fiat currencies and bank promises. (Money & Banksters & Debt & Economics & Federal Reserve & Currency) Paul Grignon, Money as Debt III: Evolution Beyond Money
41,636. They were the men interested in the establishment of the gold standard money system and right of the bankers to manage the currency and credit of every nation in the world. (Money & Banksters & Federal Reserve & Currency & Credit) G G McGeer
42,213. Today in Britain the government spends more than all private individuals and companies put together. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) Martin Durkin, Britain’s Trillion Pound Horror Story, 2010
42,214. Today in Britain the public sector is bigger than the private sector. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,215. In the next five years annual government spending will climb from £697 billion to £757 billion. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,216. We now have a national debt of £4.8 trillion. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,217. Counted out in £50 notes our national debt would form a stack no less than 6,561 miles. Or to put it another way, if we sold off all the houses and flats in the whole of the UK, we would still be the best part of a trillion pounds short of paying our debt. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,218. British governments have been steadily debasing the currency or printing money for decades through the deliberate expansion of credit. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,219. It’s very much in the interests of politicians to spend money. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,220. The idea that public spending will stimulate growth is the biggest myth of the twentieth century and is the cause of Britain’s economic decline. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,221. What do they all do? (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit) ibid.
42,222. The idea that we need state monopolies in order to look after the poor is obviously untrue. (Business & Government & Public Sector & Debt & Economics & Finance & Currency & Money & Credit & Monopoly) ibid.
42,226. In our time we’ve witnessed the zenith of global finance. In 2006 the world’s total economic output was worth around $47,000,000,000,000. The total value of stock and bond markets was roughly $119,000,000,000,000. More than twice the size. And the amount outstanding of the strange new financial life-form known as derivatives was $473,000,000,000,000. Ten times larger ... This is the story of financial globalisation. (Business & Money & Finance & Economics & Stocks & Currency & Risk & Investment & Globalisation & Federal Reserve & Banksters & Borrow & Saving & Debt & Wall Street) Professor Niall Ferguson, Ascent of Money e6: Chimerica, 2010
42,227. According to [George] Soros’s Theory of Reflexivity, financial markets can’t possibly be perfectly efficient much less rational ... His biggest coups came from being right about losers not winners. And the greatest of these was among the most momentous speculative hits in all of financial history. On September 16th 1992 with the British £ in big trouble I watched as Soros put out a contract on the Bank of England ... So sure was he that the £ would drop that he bet ten billion dollars. (Business & Money & Finance & Economics & Stocks & Currency & Risk & Investment & Globalisation & Federal Reserve & Banksters & Borrow & Saving & Debt & Wall Street) ibid.