Global Financial System Quotes

America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow.

Any country whose currency is used as a reserve enjoys tremendous benefits because those currencies gain a significant discount to financing costs.

Through bitcoin, the Argentines are developing an economy which doesn't require the bankers.

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.

The fall of Wall Street is for market fundamentalism what the fall of the Berlin Wall was for communism.

Historically, bad money always drives out good. Accordingly, if a central bank anywhere in the world sets up its currency to be backed by any kind of hard currency, it would cause people all around the world to desire that currency for their savings, rather than dollars.

With all that IMF money, the Thailand's and Mexico's are spared the consequences of their fiscal incompetence, and Wall Street's heavy hitters are spared the consequences of their stupid investments. The global economy is a rigged game, rigged so Third World politicians, rich investors and global corporations win - and U.S. taxpayers lose.

If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.

If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.

The good thing about the IMF is there is no European politics involved.

You know, I think of the global economy as an inverted triangle, resting on the shoulders of the American consumer. And if the American consumer cannot have enough disposable income in order to maintain a standard of living that creates more opportunities generation after generation, that's bad for everybody.

A global economy requires a global currency.

We should not be borrowing money from the Chinese to bail out the Greeks. What's coming next? Intergalactic bailouts?

In September 2008 - as Lehman Brothers filed for bankruptcy and AIG, the world's biggest insurance company, accepted a federal bailout - Senator John McCain of Arizona, in what was widely viewed as a political move, suspended his presidential campaign and called on Obama to rush back to Washington for a bipartisan meeting at the White House.

To ensure stable and sustainable economic growth, world leaders must re-examine the international rules of the monetary game, with advanced and emerging economies alike adopting more mutually beneficial monetary policies.

I think it's been, you know, kind of like a tragic play to this point. But at this point, I think it's clear, and will be clear to the majority of the Congress. I think it's clear to the American people that there is only one countervailing force to a world where financial institutions are trying to sell instruments every day and where credit has dried up, and that's the United States Treasury.

The need to promote the adoption of a global currency as a vital element in the integration of the global economy is self-evident.

Changing much-cherished bank secrecy laws is worth the effort. Corruption, tax evasion, and the capture of natural resource revenues undermine the rule of law, weaken the social fabric, erode citizens' trust in institutions, fuel conflict and insecurity, and hamper job creation.

Rather than waiting for a crisis to erupt before intervening, the IMF should provide 'forward guidance' on how it will tackle potential disruptions in international financial markets.

The monetary policies of the US will destroy the world.

The IMF acts on the mandate of the international community.

Japan is the largest creditor country in the world, so we have made contributions to the stability of international markets and we want this IMF meeting to confirm that we will continue to contribute.

Cryptocurrencies in general give us a stable medium through which we can communicate our information about values and prices in a way that no government mandarin can distort or usurp. For the predators who have used our central institutions to predate on the rest of humanity, it's a very bad development.

The Bretton Woods agreement will enthrone a world dictatorship of private finance more complete and terrible than an Hitlerite dream. It offers no solution of world problems, but quite blatantly sets up controls which will reduce the smaller nations to vassal states and make every government the mouthpiece and tool of International Finance. It will undermine and destroy the democratic institutions.

Our mission is to make the world economy work better.