Frederick Soddy Quotes

In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.

There is no limit to the amount of money that can be created by the banking system, but there are limits to our productive facilities and our labor supply ...

Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?

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

If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve.

The worst failures of the Federal Reserve have come from waiting too long tp tighten monetary policy during expansions, not from loosening it too much during recessions.

The amount of currency in circulation is not changing. The money supply is not changing in any significant way.

Money is the kind of instrument which is very speedily produced.

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.

I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.

Thus, the use of fiat money is more justifiable in financing a depression than in financing a war.

I actually think that the economy has got some positives. It's got the market. It's got consumer confidence and it's got banks throwing - I mean central bankers throwing money at it around the world.

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.

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 Federal Reserve has unlimited money raising powers.

The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented.

If there were no debts in our money system, there wouldn't be any money.

Banks can’t put their money in the bank. They have to lend it out.

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

As much as the banking system may not be terribly popular, it is an essential part of the economy.

It's time to stop pretending negative rates have any redeemable value - besides the ability to stimulate the market for physical safes.

The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable - there is financial stability - and that is the role that the central bank plays.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.

The government would also be wise to press on with its further measures to promote growth, as it will want to outperform the low figures in this outlook. This will mean delivering measures to ease money and credit and to stimulate demand.

We believe that - the President believes that the economy will continue to grow, that the economy will continue to create jobs, and that we need to do everything we can to enhance that growth and enhance that job creation.