Quotes About Currency

man who had exchanged his $1,000 of savings for gold in 1970, while the gold window was still ajar, would have received just over 26.6 ounces of the precious metal. At the time of writing, with gold trading at close to $1,000 an ounce, he could have sold his gold for $26,596.

suppose they began to worry about the health of the Japanese currency, the yen, in which bonds are denominated and in which the interest is paid. In such circumstances, the price of the bond would drop as nervous investors sold off their holdings. Buyers would only be found at a price low enough to compensate them for the increased risk of a Japanese default or currency depreciation.

the crisis prompted the issue of emergency paper money: in Britain, £1 and 10s Treasury notes; in the United States, the emergency currency that banks were authorized to issue under the Aldrich-Vreeland Act of 1908.46 Then, as now, the authorities reacted to a liquidity crisis by printing money.

money: a unit of account, a store of value - portable power.

Desde que en 1579 se hubieron sacudido del dominio español, los holandeses habían estado a la vanguardia del capitalismo europeo. Habían creado un sistema de deuda pública que permitía al gobierno tomar empréstitos de sus ciudadanos a un tipo de interés bajo. Habían fundado una institución parecida a un banco central moderno. Su moneda era sólida. Su sistema impositivo basado en los impuestos internos era simple y eficaz.

currency peg can mean higher volatility in short-term interest rates, as the central bank seeks to keep the price of its money steady in terms of the peg. It can mean deflation, if the supply of the peg is constrained (as the supply of gold was relative to the demand for it in the 1870s and 1880s).

Niall Ferguson

complaints from France that Washington was exploiting its reserve currency status in order to collect seigniorage from America's foreign creditors by printing dollars, much as medieval monarchs had exploited their monopoly on minting to debase the currency.

En resumen, Europa es una clase curiosa de unión, una confederación que, sin siquiera haber llegado a serlo, fantasea con convertirse en una federación. Tiene un ejecutivo, un parlamento, una cámara alta, un tribunal de justicia, un banco central, una moneda común, una bandera y un himno. Pero solo tiene un presupuesto común diminuto y lo justo para un ejército común. Muchas

They achieved this by learning a crucial lesson: in finance small is seldom beautiful. By making their bank bigger and more diversified than any previous financial institution, they found a way of spreading their risks. And by engaging in currency trading as well as lending, they reduced their vulnerability to defaults.

Inflation', wrote Milton Friedman in a famous definition, 'is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output.' What

The Amsterdam Exchange Bank (Wisselbank) was set up in 1609 to resolve the practical problems created for merchants by the circulation of multiple currencies in the United Provinces, where there were no fewer than fourteen different mints and copious quantities of foreign coins.

By allowing merchants to set up accounts denominated in a standardized currency, the Exchange Bank pioneered the system of cheques and direct debits or transfers that we take for granted today. This allowed more and more commercial transactions to take place without the need for the sums involved to materialize in actual coins.

Inflation', wrote Milton Friedman in a famous definition, 'is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output.

Bread, cash, dosh, dough, loot, lucre, moolah, readies, the where-withal: call it what you like, money matters.

most money is invisible, little more than numbers on a computer screen?

Bread, cash, dosh, dough, loot, lucre, moolah, readies, the where-withal: call it what you like, money matters. To Christians, the love of it is the root of all evil. To generals, it is the sinews of war; to revolutionaries, the shackles of labour. But what exactly is money? Is it a mountain of silver, as the Spanish conquistadors thought? Or will mere clay tablets and printed paper suffice? How did we

La inflación —escribía Milton Friedman en una célebre definición— es siempre y en todas partes un fenómeno monetario, en el sentido de que no puede producirse sin un incremento más rápido en la cantidad de dinero que en la producción.»

The modern-day dollar bill acquired its current design in 1957. Since then its purchasing power, relative to the consumer price index, has declined by a staggering 87 per cent. Average annual inflation in that period has been over 4 per cent

I believe the world economy will crash when Russia or China moves to a gold-backed currency. They know that when this thing blows, the old law returns: he with most gold makes the rules.

I think the whole narrative of blockchain without bitcoin will amount to very little.

Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each.

In Belgium, the Nazi-appointed government forced Jews to sell most of their possessions for a price set by the government and paid the new currency into special bank accounts. Later, when most Belgian Jews were deported to be murdered, the occupation government simply seized the accounts that it had earlier insisted on establishing.

The risk her stories posed to others—and to herself—was more subtle. When she was younger, she had used secrets as if they were currency, but she'd found out how secrets could use her instead by becoming stronger than she. It happened whenever she couldn't stay away from a secret—drawn to it the way Georg Weiler was drawn to the bottle—though she sensed it would be better for her not to know.