Jacque Fresco Quotes

If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.

I think money is due for some sort of collapse. People are going to realize that money has a half-life, like radioactive elements.

Some people are contriving ways and means of making us collapse.

Why are we in this mess, now facing the prospect of economic armageddon? It's because the prevailing characteristic has been greed, and it doesn't matter whether it's individuals living beyond their means or governments living beyond their means or people seeking to get rich quick.

I think when the bottom started to drop out, we didn't recognize it.

Concentrating wealth in the hands of the few and deregulating financial institutions and practices lead to speculative bubbles that eventually burst - and that brings the whole country down.

If the financial system collapses, it's really, really hard to put it back together again.

I do know that throughout history, all paper money has eventually come back to its true value, which is zero.

In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.

America had been a boom-and-bust economy going into the Great Depression - just over and over and over, fortunes were wiped out, ordinary families were crushed under it.

This circulating medium has a natural tendency to lessen by degrees the value and the use of money, and finally to render it powerless; and consequently to sweep away all the crushing masses of fraud, iniquity, cruelty, corruption and imposition that are built upon it.

In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals.

When America went off the gold standard, its financial doom was sealed.

At the end of Friday, March 3, 1933, thirty-two states had closed all their banks ... Six other states had closed almost all their banks. In the other ten states and in the District of Columbia withdrawals were limited to 5 percent of deposits and in Texas to ten dollars per day. The U.S. financial system had reached the last extremity before it would collapse completely, taking the life's savings of tens of millions of people and what was left of the international economic system with it.

There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose

The United States economy is like a poker game where the chips have become concentrated in fewer and fewer hands, and where the other fellows can stay in the game only by borrowing. When their credit runs out the game will stop.

Like Samson in the temple of the Philistines, a collapsing U.S. economy would inflict enormous, unacceptable damage on the rest of the world.

By 1929, 5 percent of the population received one-third of the nation's income. The structural weaknesses of this economy plunged the nation into the Great Depression.

For the last couple of years, as the economic ground beneath all I've accomplished and cherished has shifted so profoundly in a life-shattering reversal of fortune, I've trained myself to stay alert when the roar and the rumbling of what could be catastrophic change begins.

If money is not maintained, it can collapse like a bridge along Interstate 5 and fixing it, even with determined politicians, will take ages, during which time God only knows how much human damage will occur.

In 2008 we came perilously close to killing money, exposing in the process how out of date money's infrastructure has become.

Any time a country transitioned to a fiat currency, they collapsed. That's just world history; you don't have to know about cryptocurrency to know that.

I can tell you what happens to countries that go bankrupt. I've been to Argentina. I'm familiar with the history of Mexico and Great Britain. We'll see the same things here shortly: inflation, huge tax increases, capital flight and, eventually, capital controls.

What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.

When paper money systems begin to crack at the seams, the run to gold could be explosive.