Joseph Stiglitz Quotes

In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.

The Fed Note is essentially unsound. It is the worst currency and the most dangerous that this Country has ever known.

Americans have seen the value of the dollar slowly decline due to the steady erosion of inflation.

The dollar has lost over 90 percent of its value since the Fed was created.

The uncontrolled increase of the euro rate vis-a-vis the dollar threatens employment growth in the euro area.

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

Economies typically do not function well in hyperinflation. The real value of government debt might disappear, but the economy is likely to disappear with it.

There's a lot of companies that profit from a weak dollar.

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

If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.

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

When the franc was in danger of collapsing in 1956, it was the Americans who propped it up and their reward was to be insulted and swindled on the streets of Paris. I was there. I saw it.

I think the IMF helped to detonate the Indonesian crisis.

If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.

Leaders often associate strong currencies with national strength and thus view declining currencies as insults to their prowess.

Money can never circulate freely and actively unless there be absolute confidence in its value.

... a baseless currency varying every fifty miles and fluctuating everywhere.

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

Credit is of pernicious consequence to that Nation, that uses or encourages it beyond Nature.

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

The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency... I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.

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.

It does not mean of course that the pound here in Britain in your pocket has been devalued .

At some point, there will be some other financial crisis. It's in the nature of a capitalist system.

I have had many anxieties for our commonwealth, principally occasioned by the depreciation of our money.