Currency Management Quotes

It is no coincidence that the century of total war coincided with the century of central banking.

China needs a currency that reflects underlying economic fundamentals.

Trusting the government with money creation is like trusting a drunk with a whiskey factory.

With the increasing relative scarcity of gold as compared with money requirements, the general tendency will also be toward a smaller gold basis or "cover" for currency, even among those nations which are "on a gold basis.

The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

Remonetisation has happened at a fast pace, and that was part of the plan that, subsequent to the withdrawal of the specified bank notes, our production plans and supply processes would ensure that the remonetisation happened as quickly as possible.

A flexible exchange rate is important, and it shouldn't be artificially restrained because of the needs of the economy.

The dreams of "leaving it up to the market" or of returning to a politically neutral gold standard cannot succeed because the nature of the monetary system has a profound impact on the interests of powerful groups and states. Affected groups and states will always try to intervene in the operation of the system to make it serve their interests.

Governments have a tendency to screw up currencies.

Shall we have in this country legal-tender paper issued by the Government, or shall the people depend upon banking corporations for their circulating medium! Shall the Government or the banking corporations control the volume of the currency?

Exchange-rate stability is extremely important.

The idea of creating a national bank I do not concur in, because it seems now decided that Congress has not that power (although I sincerely wish they had it exclusively), and because I think there is already a vast redundancy rather than a scarcity of paper medium.

I hold all idea of regulating the currency to be an absurdity; the very terms of regulating the currency and managing the currency I look upon to be an absurdity; the currency should regulate itself; it must be regulated by the trade and commerce of the world; I would neither allow the Bank of England nor any private banks to have what is called the management of the currency.

History has recorded nothing so dramatic in design, nor so skillfully manipulated, as this attempt to create the National Reserve Association, or the Federal Reserve.

The stability of the rate is the main issue and the Central Bank manages to ensure it one way or another. This was finally achieved after the Central Bank switched to a floating national currency exchange rate.

We will never cause any money to be coined in the land of any of the princes which shall be injurious to his coinage.

The whole thing of moving the currency through currency sorting and detection machines and so on that was the whole process actually encouraging electronic transactions.

ICICI Bank was the first bank to recalibrate its ATMs for 2000 and then also for 500 rupee notes, and now we have some ATMs which give out 2000, 500, 100 - all of them.

A single currency entails a fixed interest rate, which means countries can't manage their own currency to suit their own needs. You need a variety of institutions to help nations for which the policies aren't well suited. Europe introduced the euro without providing those structures.

I know very well about the necessary level of reserves of the Central Bank as well as the purpose.

Britain is not in the single currency, and we're not going to be. But we all need the eurozone to have the right governance and structures to secure a successful currency for the long term.

We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control.

We require two safeguards against a return of the evils of the old order; there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people's money, and there must be provision for an adequate but sound currency.

There is the fact that - people have had a lot of confidence that the Chinese leadership could fix what is wrong with their economy so it wouldn't have ripple effects around the world. I think that confidence is being shaken by how difficult it is for them to manage their stock market and their currency.

There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is a number which is not a mere estimate but a verified number both physically and in the accounting sense.