Central Bank Quotes

“It is no coincidence that the century of total war coincided with the century of central banking.”
― Ron Paul, End the Fed

“People and institutions that refuse to admit error eventually discredit themselves.”
― Jeffrey Tucker

“The Central Bank of The Bahamas and the Bahamian people are leading the world in the normalization of digital currency and Blockchain technology as ways to build speed, liquidity, access, efficiency and security into payments.”
― Hendrith Vanlon Smith Jr

“The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven't yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.”
― Murray N. Rothbard

“Monetary policy does not work like a scalpel but more like a sledgehammer.”
― Liaquat Ahamed

“When the subject was money, central authority had always been taboo; it was a demon that terrified the people. Fear of this demon had kept the country without any effective organization of its finances for seventy-five years. Now, three-quarters of a century after Andrew Jackson, the ghost was slain.”
― Roger Lowenstein, America's Bank: The Epic Struggle to Create the Federal Reserve

“Only in a national economy that is largely self-contained can a national central bank be a true central bank; with the development of world market, and (especially) of world financial markets, national central banks take a step down, becoming single banks in a worldwide system, not at the 'centre' any longer. Thus the problem that was (partially) solved by the institution of national central banks has reappeared, and it is still unsolved (though we are trying to solve it), on the world level.”
― John Hicks

“The economy and financial markets are becoming global, while monetary policy and financial supervision and regulation are conducted at the country level by national authorities. This is what the sovereign state is all about. For the foreseeable future, it is unrealistic to imagine that the authorities in large countries will conduct monetary policy or financial supervision and regulation for the sake of global stability. The gap between the reality of the global economy and the policy-making institutions is the essential source of the problem we are faced with for many decades to come. Most problems derive from the fact that
(1) central banks lack the incentive to 'internalize' the international spillover from their own conduct of monetary policy, (2) there is no global lender of last resort that is really worthy of that title, and (3) financial institutions tend to consume the services of financial stability excessively by not internalizing the impact of their own behavior on financial stability - the 'tragedy of the commons.”
― Masaaki Shirakawa, Tumultuous Times: Central Banking in an Era of Crisis

“Bank of North America was the first chartered bank in the United States. Constructed through the underpinnings and the vision of two early American forefathers - Alexander Hamilton and Henry Morris - and initially thought of by Hamilton and Morris as a de-facto American “central bank.”
― Ted Ihde, Thinking About Becoming A Real Estate Developer?