Money creation | Quotes about the magic of money

"The Federal Reserve has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... the European Central Bank has only the first. It has no commitment to keep employment up." Noam Chomsky

"A tremendous amount of the entrepreneurial initiative, if you want to call it that, comes from the dynamic state sector on which most of the economy relies to socialize costs and risks and privatize eventual profit. And that's achieved by, if you like, advertising." Noam Chomsky

"Positivism eliminates any kind of natural law principle - for example, that there are economic laws which can be transgressed only at your peril. With positivism, there is a tendency to leap into ad hoc economic theory." Murray Rothbard

"Insurance is meant for extraordinary circumstances. You don't use car insurance to pay for oil changes or gasoline; you have it as protection in case you have a terrible accident or your car is stolen. You don't use homeowners' insurance to pay your electricity and water bills; you have it as protection in case a fire or other catastrophic event produces a large expense. Obviously, any insurance policy that promises to cover every small, ordinary expense is going to be much more expensive than one that covers only extraordinary expenses." Harry Browne

"Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system." Murray Rothbard

"In both rich and poor nations consumption is polarized while expectation is equalized." Ivan Illich

"If you have one good idea, people will lend you twenty." Marie von Ebner-Eschenbach

"The cozy home saves you a lot of work because it leaves you no time for it." Gabriel Laub

"If your wages are only enough for eating and sleeping, that is not work; it used to be called slavery." George Orwell

"Within a capitalist corporation, someone says, "Lend me a wrench," and someone asks, "Yeah, what do I get?" You assume that the idea of each according to his or her abilities, each according to his or her needs - in solving a problem - is actually the only thing that works. And in situations of disaster, there are often communistic notions of improvisation, where you basically exchange hierarchies and all of a sudden all those things that are luxuries that you can't afford, you have them in an emergency." David Graeber

"Look at labor policy. What's the point of making everybody work too much? It's not very useful. It is destroying the planet, actually. But it's great at keeping people off the streets." David Graeber

"We have to grasp, as Marx and Adam Smith did, that corporations are not concerned with the common good. They exploit, pollute, impoverish, repress, kill, and lie to make money. They throw poor people out of homes, let the uninsured die, wage useless wars for profit, poison and pollute the ecosystem, slash social assistance programs, gut public education, trash the global economy, plunder the U.S. Treasury and crush all popular movements that seek justice for working men and women. They worship money and power." Chris Hedges

"Run for your life from any man who tells you that money is evil. That sentence is the leper's bell of an approaching looter." Ayn Rand

"Class is material consumed." John Trudell