Quotes About Financial system

A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.

People are losing faith in the banking system due to security issues.

Any new financial order for the world must tackle the three chief challenges of our age.

Just as Wall Street needs to break the hold of the bonus culture, which drives risk-taking that is rational for individuals but damaging to the financial system, so science must break the tyranny of the luxury journals. The result will be better research that better serves science and society.

It is the ability of governments to acquire money without direct taxation that makes modern warfare possible, and a central bank has become the preferred method of accomplishing that.

The modern banking system manufactures money out of nothing.

In societies of low civilization, there is no money.

I do sense that the financial system is under the gun. In order to keep our system and economies moving globally, there's the need to extend new money.

Right now, nobody legalized paper money. Where did that come from.

While he was to become adept at business, Hamilton, the man who was to found America's financial system, as a schoolboy had to struggle with mathematics.

To this day, this loan has never been paid back. It cannot be. If it ever were, the entire monetary system of Great Britain would cease to exist.

We have reached the point where multi-millions of people are taking to the streets around the world to protest at their economic plight as the gap between rich and poor becomes a chasm as (calculated) chaos in the financial system has been used as the (calculated) excuse for the biggest transfer of wealth from the many to the few, from poor to rich, from masses to elite, in known human history.

Every dollar that is printed should not represent a debt to private bankers. It should represent an investment potential in the common good, in the common needs of our country.

My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the next time the system breaks, it breaks much, much bigger.

Mortgages were less about getting people into property than getting them into debt. Someone had to absorb the surplus supply of credit.

Alexander Hamilton

What happened at Mt. Gox is not an isolated incident. This is a plague that continues to play like a bad broken record. As long as this continues to happen, how are we ever going to instill confidence in this industry? How are we better than the old financial system?

There are regulators at the SEC and elsewhere who are really excited about the potential of the blockchain. They understand you can build a robust financial system - it would solve all your black swan problems. All kinds of mischief and games that are played in the current system become impossible in this system.

I had to abandon free market principles in order to save the free market system.

The world is not going to fall as long as there is confidence in governments and in banking institutions and the financial system.

A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.

Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.

You cannot have the financial system crippled because of lack of decision making and lack of quality people.

Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.