Henry Ford Quotes

People forget how difficult it is to stop inflation or get it under control… I worry about it all the time.

The Fed [Federal Reserve System], whether it likes it or not, is required to provide adequate reserves to the banking system in order for the government to finance its needs, even when that is inflationary.

The Federal Reserve bank buys government bonds without one penny

We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it

The very existence the Federal Reserve System is a safeguard against anything like a calamity growing out of money rates …. We have the power to deal with such an emergency instantly by flooding the street with money.

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.

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.

It's absolutely critical that we audit the Fed so the American people can see what's going on over there. Do it from top to bottom so that we can have transparency in this entity called the Federal Reserve. Hopefully, the American people will see that we need to go back to the gold standard, which I've introduced, and get rid of the Fed.

The banks have accounts with the Fed, much the same way that you have an account in a commercial bank.

Of course I've already taken a very modest position on the monetary system, I do take the position that we should just end the Fed.

There's nothing the people love more than a Federal Reserve joke.

I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people.

Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply.

The powers vested in the Federal Reserve Board seen to me highly dangerous especially where there is political control of the Board.

Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks… The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over. This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government.

You have to change people’s minds to stop inflation.

I don't have any influence over the Fed [Federal Reserve System], none at all. It's carefully isolated from any influence by the President or Congress.

The business community won’t like it if the Federal Reserve raises the interest rate. They never do. That doesn’t mean they shouldn’t do it.

Washington doesn't understand interest rates and Wall Street doesn't understand Washington.

The Federal Reserve Board is indefensible in theory and indispensable in practice.

There's no such thing as a painless cure for inflation.

The aversion, in the common people, to a silver and gold currency, had occasioned several tumultuous assemblies in and near the town of Boston. The paper, they said, was not worth hoarding, but silver and gold would all fall to the share of men of wealth, and would either be exported or hoarded up, and no part of it would go to the labourer, or the lower class of people, who must take their pay in goods, or go without

If raising or allaying [revaluing or devaluing] the Money could add to its Value, or have any good Effect on Home or Foreign Trade; Then no Nation would want Money [from that nation.]

There is a means of producing a uniform currency throughout the United States, and thereby greatly facilitating the commercial intercourse of the country, perfectly consistent with free competition in banking, and infinitely preferable to the resort to a National Bank.

The history of interest rates is really the history of inflation. When inflation is high, interest rates are high, and when inflation is low, interest rates are low.