Urjit Patel Quotes

There's a lot of companies that profit from a weak dollar.

It is with government paper, and bank paper, as it is with the paper of private persons; that is, it is worth just what can be delivered in redemption of it, and no more. We all understand that the notes of the Astors, and Stewarts, and Vanderbilts, though issued by millions, and tens of millions, are really worth their nominal values.

In this way, the charge that the bank makes for the use of its notes - the interest - is a continual and universal tax upon all the members of the community.

Those who are lovers of trade and delight to see manufacturing encouraged will be for having a large addition to our currency.

I don't know anyone else on Wall Street who ever conducted a major currency reform. Or for that matter, who established a government.

The institution of a bank has also a natural relation to the regulation of trade between the States, in so far as it is conducive to the creation of a convenient medium of exchange between them, and to the keeping up a full circulation, by preventing the frequent displacement of the metals in reciprocal remittances Money is the very hinge on which commerce turns. And this does not merely mean gold and silver; many other things have served the purpose, with different degrees of utility. Paper has been extensively employed.

The currency of any country, whether it be coin or bank-notes, cannot be increased beyond the mercantile wants of that country, without producing a depreciation in the parts which compose the currency.

All the perplexities, confusion and distress in America rise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation

it is obvious that there is only wanting to the fiscal prosperity of the Government the restoration of an uniform medium of exchange … it is essential that the nation should possess a currency of equal value, credit, and use wherever it may circulate. The Constitution has entrusted Congress exclusively with the power of creating and regulating a currency

With the increasing relative scarcity of gold as compared with money requirements, the general tendency will also be toward a smaller gold basis or "cover" for currency, even among those nations which are "on a gold basis.

In the Colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to anyone.

A penny will not buy a penny postcard or a penny whistle or a single piece of penny candy. It will not even, if you're managing the U.S. Mint, buy a penny.

Governments have a tendency to screw up currencies.

Demonetisation was not a decision of UP government. It is the central government's decision.

Cheap money feels like the most natural thing in the world - if you don't think about why it's so cheap.

This is a once in a lifetime event. It is very rare to remove 86% of the currency in circulation in one go. The logistics of such an operation are mammoth.

Bailouts may have been more tolerable in the early 1990s when they were rare and their use for a failing bank was uncertain. That is no longer the case.

Demonetisation was a big flop, and its outcome was negative. The government has done nothing to get back black money.

Very few countries grow at high rate if inflation is high and volatile. I think, in a way, we are doing our bit to support a higher growth rate, but on a durable basis.

There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is a number which is not a mere estimate but a verified number both physically and in the accounting sense.

By the beginning of the 20th century, the debate about monetary policy and the nation's financial system had been going on for over a century. Increasingly, the shortcomings of the existing system were causing too much harm to ignore.

Leave the euro? Surely yes.

Demonetisation was always on the government's radar and was part of the plan from day one when Narendra Modi took over as prime minister, as he was concerned about the black money.

Inflation in Russia is primarily related to internal factors.

Asking the government to fix our economy is like asking an editor to fix a movie, but in this case, the editor's not even of one mind.