Monetary Expansion Quotes

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. ... A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

The history of interest rates is really the history of inflation. When inflation is high, interest rates are high, and when inflation is low, interest rates are low.

The Federal Reserve bank buys government bonds without one penny

Look at the Weimar Republic and their hyperinflation in the early '20s. It didn't happen overnight. I've used the analogy, it's a lot like soybeans: you plant 'em, you wait. Conditions take some time. You need some sun; you need some water, but ultimately things start to grow, and are we in that phase or not?

If Federal Reserve loans are subsidies, it doesn't show up in the federal budget.

Nothing good can come from the Federal Reserve. It is the biggest taxer of them all. Diluting the value of the dollar by increasing its supply is a vicious, sinister tax on the poor and middle class.

I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.

In effect, there has been a significant shortfall in the overall amount of monetary policy stimulus since early 2009.

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.

Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

When Lincoln ran into trouble during the Civil War, he got new generals. He brought in Grant. I hope that President Obama will bring in some new generals on the financial front.

Of course I've already taken a very modest position on the monetary system, I do take the position that we should just end the Fed.

Alan Greenspan is the worst Chairman of the Fed in history.

After the 1929 crash, the Federal Reserve mistakenly focused its policies on preserving the gold value of the dollar rather than on stabilizing the domestic economy.

There are few historians who would challenge the fact that the funding of World War I, World War II, the Korean War, and the Vietnam War was accomplished by the Mandrake Mechanism through the Federal Reserve System.

I don't know anything about free silver, [but] the people of Nebraska are for free silver and I am for free silver. I will look up the arguments later.

Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.

Bubbles are best identified by credit excesses, not valuation excesses. And there's no bigger credit excess than in China.

Prices are going up. Unemployment continues to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.

The Federal Reserve is incapable of accomplishing its stated objectives.

The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.