Mikhail Gorbachev Quotes

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.

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

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.

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.

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.

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

A paper monetary standard means there are no restraints on the printing press or on federal deficits.

Well, the chairman of Federal Reserve just made his move to rescue Barack Obama. We're gonna have QE3. We're gonna print some more money.

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

We have to remember there is not a big printing press in Washington that continually prints money over and over.

Forget quantitative easing - I've always thought the idea of injecting virtual money into the system is an accident waiting to happen.

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 am pretty sure central banks will continue to print money, and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase.

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.

There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth.

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

Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.

There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in foreign reserves and changes in the money supply.

All inflationary processes in history are related to political and moral crises.

Let's turn inflation over to the post office. That'll slow it down.

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.

Nothing so weakens governments as persistent inflation.

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.