Peter Schiff Quotes

There is no need for government to intervene in money and prices because of changing population or for any other reason. The 'problem' of the proper supply of money is not a problem at all.

An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.

Domestic inflation reflects domestic monetary policy.

First, I think the science of monetary economics has clearly gotten better.

The job of the Central Bank is to worry.

Who controls the issuance of money controls the government!

Whoever controls the volume of money in any country is absolute master of all industry and commerce.

A good monetary policy follows inflationary expectations and not historical numbers.

He who controls the money supply of a nation controls the nation.

Interest rates are used to achieve overall economic stability.

Large sums were paid for the use of money, because the available amount of gold and silver was far less than was needed to carry on the commercial transactions of the times.

Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talks of the sovereignty of Parliament and of democracy is idle and futile.

The government, in my judgment, cannot create money; the government can give its note, like an individual, and the prospect of its being paid determines its value.

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.

Our [the Federal Reserve Board] job is to make sure that the money is kept as scarce as it would be if it were backed by gold.

The chief duty of the National Government in connection with the currency of the country is to coin money and declare its value.

it is obvious that there is only wanting to the fiscal prosperity of the Government the restoration of an uniform medium of exchange … it is essential that the nation should possess a currency of equal value, credit, and use wherever it may circulate. The Constitution has entrusted Congress exclusively with the power of creating and regulating a currency

Experience shows that high and unstable inflation can harm growth. A noninflationary macroeconomic policy is, therefore, a prerequisite for rapid development. Control of government borrowing is the crucial element in such a policy. When public borrowing is excessive, governments are soon obliged to finance it by printing money, and rising inflation then follows.

With the increasing relative scarcity of gold as compared with money requirements, the general tendency will also be toward a smaller gold basis or "cover" for currency, even among those nations which are "on a gold basis.

The issue is, you're not going to have a lot of inflation showing up when you have no velocity.

The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.

A U.S. dollar is an IOU from the Federal Reserve Bank. It's a promissory note that doesn't actually promise anything. It's not backed by gold or silver.

The Fed's job is not to stall growth or to prevent economic 'overheating.' It is to keep prices stable and the dollar a strong and reliable currency.

I may be a dreamer, but I think monetary economics should be a hot topic.

Monetary policy should remain data dependent, be well communicated, and ensure that inflation expectations remain anchored.