Matteo Salvini Quotes
We need to adopt a new currency. It doesn't matter what or how we call it - lira, sterling, Roman sesterce.
"Salvini pushes for new Italian currency." The Local Italy, The Local Europe AB, 17 Nov. 2016.
This is the first major history of banks written in the United States.
This objective finally reached its peak in the Nixon administration when the U. S. went off the gold standard. 75 Years after FDR tried to make the U. S. dollar more resilient, America had been so successful that many foreign governments having the same problem of little or no control over their currency, have pegged their currency to the U. S. dollar, thus gaining our stability.
When the general retired, he took a position on Wall Street for which some claimed he was unqualified.
At the time, there was no United States currency. Private banks in some of the states issued their own money. A dollar from Georgia might only be worth 75 cents in New York.
This was a very astute prediction. At the time, the United States gold mining production was second only to South Africa and American currency was based on the gold standard which seemed to all to be permanent. Half a century later, the U. S went off the gold standard.
Economists they world over have differed as to how critical it was to have a money supply that is based on a gold standard or other precious metal. United States history has had a dispute over whether the money should be backed by gold or silver. Finally, under the Richard M. Nixon administration, the United States went off the gold standard and American money ever since is only backed by the ‘full faith and credit’ of the United States. Some politicians like Paul believe this is a poor policy since it allows governments to control their own money supply irrespective of their gold or silver holdings. Paul goes further than most and sees freedom itself dependent on a precious metal standard. Most politicians disagree.
What the Prime Minister was trying to say is that the buying power had not been diminished suddenly for local and non-imported items.
The alternative would have been for the colonies to borrow English money at high interest rates and use that. Or use money from private banks (which occurred later.) Many conservatives are today a little shocked that some of the American Colonies just printed money with no backing but it worked—at least at the local level. A Boston Bank for example, would take a large commission for a Bostonian to convert Pennsylvania money into Massachusetts money. So it was not a very good system for trade between colonies and International trade. But English money was used for that. The colonists pragmatically got the “best of both worlds” and paid as little interest as they needed to. This system is essentially what we use today on a national scale with no gold or silver backing of the money.
Matteo Salvini is an Italian politician who served as Deputy Prime Minister of Italy and Minister of the Interior from 1 June 2018 to 5 September 2019. He has also been Federal Secretary of the Northern League since December 2013. He has been a Senator in the Italian Senate since March 2018. He previously served as a Member of the European Parliament (MEP) for the constituency of North-West Italy from 2004 to 2018.
