Currency Stability Quotes

Our forefathers showed much wisdom in selecting silver, of the two metals, out of which to make the unit…. In considering which of these two metals they would thus favor by making it the unit, they were led to adopt silver because it was the most reliable. It was the most favored as money by the people. It was scattered among all the people. Men having a design to injure business by making money scarce, could not easily get hold of all the silver and hide it away, as they could gold. This was the principal reason that led them to the conclusion to select silver, the more stable of the two metals, upon which to fix the unit. It was so much handled by the people and preferred by them, that it was called the people's money.

All money is a matter of belief.

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

We have made it possible, without gold and without foreign exchange, to maintain the value of the German mark. Behind the German mark stands the German capacity for work, while some foreign countries, suffocated by gold, have been compelled to devalue their currencies.

I think partly the decline in the peso was due to worry about renegotiation of NAFTA, but I think we also need to think about some other mechanisms for making the peso/dollar exchange rate a bit more stable.

We don't really believe there's much room for the creation of new currencies if there is no real backing for a hard and credible issuer of that currency.

Countries themselves need to do everything possible to remain in the euro zone.

There have been unions based on gold or silver, but not on fiat money - money tempted to inflate - put out by politically independent entities.

Gold and silver afford the only safe foundation for a monetary system.

In these times of uncertainty for paper-based currency, I feel more secure in holding gold.

The superiority of the gold standard consists in the fact that the value of gold develops independent of political actions.

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

To protect the national honor, every dollar of Government indebtedness should be paid in gold, unless otherwise expressly stipulated in the contract. Let it be understood that no repudiator of one farthing of our public debt will be trusted in public place, and it will go far toward strengthening a credit which ought to be the best in the world.

The most important quality of a currency is its stability.

Gold is as steady as a rock, a standardbearer by which all currencies can be accurately measured.

Sound money is the sine qua non of a prosperous society.

Exchange-rate stability is extremely important.

I will maintain the position that, long-term, a strong and dependable dollar is in the best interests of the United States while recognizing that, at times over the long-term, that may not be the case.

Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.

You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.

If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.

I want to make it clear what I am not saying. I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own.

Currency regimes in the past were always destroyed by volatility. So sooner or later, people desire a currency that is stable.

The economic union - creating a big common market, like the United States, so that you can compete across borders. There are common rules, regulations, and simplification, and that is still a good reason, too. When they put their monetary union together, that created a rigidity that made it hard for currency fluctuations. They don't really have a solution to that.

An honest money system is the only alternative.