Eugene Fama Quotes

Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they're likely to increase prices, since they've learned that if they don't, and inflation hits, their businesses will be wrecked.

Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.

Following Greece's defeat at the hands of Turkey in 1897, Greece's fiscal house was entrusted to a Control Commission. During the 20th century, the drachma was one of the world's worst currencies. It recorded the world's sixth highest hyperinflation. In October 1944, Greece's monthly inflation rate hit 13,800%.

When the government runs out of lenders, it can do something that households are forbidden to do: print money.

If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.

Greece's history in the drachma was an up-and-down history, a roller coaster.

At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.

The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before.

Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.

A disordered currency is one of the greatest political evils.

We have lost control over the financial system ... by printing much more money than in previous years.

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

When you get inflation, you get massive distortions of the economy.

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

I think money is due for some sort of collapse. People are going to realize that money has a half-life, like radioactive elements.

Increased spending, growing government debt and overreaching regulations are stifling job creation and economic growth.

What would a loss of confidence in the dollar actually look like? Gold going absolutely nuts.

Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.

Believe me, the next step is a currency crisis because there will be a rejection of the dollar, the rejection of the dollar is a big, big event, and then your personal liberties are going to be severely threatened.

If you print money like in Zimbabwe... the purchasing power of money goes down, and the standards of living go down, and eventually, you have a civil war.

At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

Governments can inflate their way out of debt, but that has consequences, doesn't it?

Long before we wake up from our dream of prosperity through an inflated currency, our gold … will have vanished and no rate of interest will tempt it to return.