Abraham Lincoln Quotes

In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.

The Federal Reserve Board is indefensible in theory and indispensable in practice.

The job of the Central Bank is to worry.

What a sound money system does is to stabilize all the elements in it, and reduces the uncertainty that people confront. And the one thing all human beings do when they are confronted with uncertainty is pull back, withdraw, disengage, and that means economic activity, which is really dealing with people, just goes straight down.

The one thing people don't appreciate, I think, is that central banking is not a new development. It's been around for a very long time.

Our system works best if the value of money stays the same.

Nothing is more vital to our supremacy as a nation and to the beneficent purposes of our Government than a sound and stable currency.

Money can never circulate freely and actively unless there be absolute confidence in its value.

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

Backing of paper money should be upon the gold, the silver, the wheat, the corn, and everything else in the country, including the public credit.

[Pay no heed to] the old fetishes of so-called international bankers…. The sound internal economic system of a nation is a greater factor in its well-being than the price of its currency in changing terms of the currencies of other nations.

Monetary stability is a cornerstone of the social contract.

Requiring the Fed to focus on preserving the purchasing power of the dollar will create a solid foundation for economic growth.

Central banking often comes across as obscure and complicated, and we try to help the public understand what we do.

The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation.

This bill, the Sound Dollar Act, is all about looking forward about the role the Fed should play.

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

If Congress wanted to intervene with the Federal Reserve, well, we created the Federal Reserve. We could uncreate it. But would you want Congress regulating the money supply? We'd have drowned in inflation, or gone bankrupt, decades ago.

Well, I think what we need to remember is that budget deficits can impede economic activity.

The power of collecting money from the people is not to be rejected because it has sometimes been oppressive. Public credit is as necessary for the prosperity of a nation as private credit is for the support and wealth of a family.

Money is just something to be circulated.

Without growth we can't pay down our debt, and without growth there's no money for welfare.

It's absolutely critical that we audit the Fed so the American people can see what's going on over there. Do it from top to bottom so that we can have transparency in this entity called the Federal Reserve. Hopefully, the American people will see that we need to go back to the gold standard, which I've introduced, and get rid of the Fed.

The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.

Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.