Grover Cleveland Quotes

Rome was in the most dangerous inclination to change on account of the unequal distribution of wealth and property, those of highest rank and greatest spirit having impoverished themselves by shows, entertainments, ambition of offices, and sumptuous buildings, and the riches of the city having thus fallen into the hands of mean and low-born persons. So that there wanted but a slight impetus to set all in motion, it being in the power of every daring man to overturn a sickly commonwealth.

A disordered currency is one of the greatest political evils. It undermines the virtues necessary for the support of the social system, and encourages propensities destructive to its happiness. It wars against industry, frugality, and economy, and it fosters the evil spirits of extravagance and speculation.

In all Sovereignties in Europe where Paper-Money was introduced, great Inconveniencies happened; upon canceling this Paper Medium all those Inconveniencies did vanish

Confederate money had not yet made its appearance and gold was already being hoarded. I had already lost quite a sum in exchanging one State's money for another, as even the paper money issued in one county did not pass at par in the next (if accepted at all), but everybody was jubilant over the fact that the Confederate Congress had appropriated fifteen millions of dollars to carry the war on to a successful termination.

At the end of Friday, March 3, 1933, thirty-two states had closed all their banks ... Six other states had closed almost all their banks. In the other ten states and in the District of Columbia withdrawals were limited to 5 percent of deposits and in Texas to ten dollars per day. The U.S. financial system had reached the last extremity before it would collapse completely, taking the life's savings of tens of millions of people and what was left of the international economic system with it.

There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose

The real problems of our economy began when the very smart people of our society went to Wall Street.

If only we can avoid a repetition of the depression that culminated in Mr. Hoover's Administration, we will be very fortunate. This depression, of course, had nothing to do with President Hoover's policies, but was the result of after-war activities by certain groups in this country which, I fear, may be duplicated again unless the people and the Congress are very wary.

The economy will bump along, with most of us struggling to make ends meet, while the same people who nearly wrecked the economy altogether will be making more money than they can count.

The great fear of every patriot at this moment relates to our currency. The vast over issues of paper money have raised prices to such a pitch as to make the expenses of the Government enormous.... The poor suffer from this enormous inflation of currency. Beef is 1.25 per lb—Butter $4—Eggs 3—clothing is unobtainable ... coffee is $8—sugar 3, etc. so on. Shoes cannot be had under $50 to $60 the pr. for very common ones. God only knows where all this will stop.

When wealth concentrates at the very top, it can inflate unstable bubbles that threaten the economy.

The current crisis is not simply a market failure in which prices are not functioning properly, but a profound loss of faith in money’s capacity to tell the truth.

By 1929, 5 percent of the population received one-third of the nation's income. The structural weaknesses of this economy plunged the nation into the Great Depression.

The way you create deflation is you create an asset bubble.

A United States collapse would be much different than a Greece collapse. Greece can collapse, and there's a ripple. We collapse, and the world feels it.

The rise in the price of gold is a sign that capitalism has stumbled.

Look at the Weimar Republic and their hyperinflation in the early '20s. It didn't happen overnight. I've used the analogy, it's a lot like soybeans: you plant 'em, you wait. Conditions take some time. You need some sun; you need some water, but ultimately things start to grow, and are we in that phase or not?

As capitalism falters, the rich move their money out of the country, violence increases, and politicians promising prosperity are elected.

An overwhelming number of economists, international civil servants, and policy-makers argue that a fragmentation of the Eurozone would cause a new depression and massive wealth destruction around the world. It would also end the period of economic integration that has characterized world politics since the end of the Cold War.

War has generally had grave and fateful consequences for the American monetary and financial system. We have seen that the Revolutionary War occasioned a mass of depreciated fiat paper, worthless Continentals, a huge public debt, and the beginnings of central banking in the Bank of North America.

Russia is a bankrupt country. It just lives on oil revenues.

I can tell you what happens to countries that go bankrupt. I've been to Argentina. I'm familiar with the history of Mexico and Great Britain. We'll see the same things here shortly: inflation, huge tax increases, capital flight and, eventually, capital controls.

It's not a small thing, it's a pandemic, but economically we should not be in this position that we are this fragile as an industry. We don't go racing for three months and we are on the verge of collapsing, which is amazing.

Argentines have billions of pesos overseas because they didn't trust in the state.

We have not argued in either Brazil or Argentina that the IMF should step in to protect the banks.