Steve Hanke Quotes

When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.

For us in England, the relative value of the pound against the dollar, that has a huge impact on how easy it is to get our films made in the U.K.

If, when Money is rais'd [inflation or devaluation], Goods keep the Prices they had before. Then all Goods exported are sold for a lesser Value abroad, and all Goods imported are sold dearer.

Well, I make a practice of not commenting on the role of the relative exchange value of our currency.

Over time, there's a very close correlation between what happens to the dollar and what happens to the price of oil. When the dollar gets week, the price of oil, which, as you know, and other commodities are denominated in dollars, they go up. We saw it in the '70s, when the dollar was savagely weakened.

I will maintain the position that, long-term, a strong and dependable dollar is in the best interests of the United States while recognizing that, at times over the long-term, that may not be the case.

To the extent the dollar gains strength relative to other currencies, assets priced in those other currencies would become cheaper on a dollar basis.

Certainly, we are hurt by the high fuel prices because it raises our cost.

In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.

There's a lot of companies that profit from a weak dollar.

The prices of all imports would rise if the dollar depreciates.

When the commodities go up and the cost of transportation is going up, and the value of the dollar is going down, it's all going to translate to an 8 to 10 percent rise in food prices.

The value of a currency is, ultimately, what someone will give you for it - whether in food, fuel, assets, or labor. And that's always and everywhere a subjective decision.

After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive.

But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988.

If stocks double but the dollar loses half its value, who beyond Wall Street are the winners and losers?

The more competitive value of the dollar turned around the trade deficit.

It does not mean of course that the pound here in Britain in your pocket has been devalued .

I am concerned about the erraticness of the dollar. The dollar is up, the dollar is down. We print a lot of dollars. The dollar gets devalued. That is really the concern. If people think the gold price up and down is a reflection of something wrong with gold, no - I say it is something wrong with the dollar.

I understand that the rupee is fairly market determined.

Currency regimes in the past were always destroyed by volatility. So sooner or later, people desire a currency that is stable.

In reality, while currency movements can have a significant impact on inflation in other countries, dollar movements have rarely had a meaningful or durable impact on prices in the U.S.

When the dollar was separated entirely from gold in 1971, it ceased being the official IMF world currency and finally had to compete with other currencies... From that point forward, its value increasingly became discounted.

Rupee fluctuation is not so significant compared with the other currencies. Fluctuations in currencies has been fairly steady. As the finance minister often says, fluctuation is the new normal.

Inflation has ... become the cruelest tax, destroying the value of the dollar and adding new costs to every purchase.