Quote by Noam Chomsky on the Monetary Policy of US Federal Reserve and ECB

„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 ChomskyNoam Chomsky explains the differing goals of the US Federal Reserve and ECB regarding inflation and employment.
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Noam Chomsky is an American linguist, philosopher, and political activist, renowned for his work in linguistic theory and critical social analysis.

Quote by Noam Chomsky on the differing mandates of the US Federal Reserve and European Central Bank regarding inflation and employment.


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Noam Chomsky quote about Federal Reserve and European Central Bank monetary policy

Born in 1928, Noam Chomsky is a prominent linguist, cognitive scientist, philosopher, and political activist. He is widely regarded as the father of modern linguistics and revolutionized the field with his theory of generative grammar. Additionally, Chomsky is known for his critical analyses of politics and mass media.

Murray Rothbard quote about the Federal Reserve, systemic inflation, and control of the American monetary systemCopyright © yoice.net – Quote Artwork
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"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
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Murray Rothbard quote about inflation and central banksCopyright © yoice.net – Quote Artwork
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"So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?" Murray Rothbard
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Murray Rothbard quote about the Federal Reserve and inflationCopyright © yoice.net – Quote Artwork
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"The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game. The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about 'inflation,' for which virtually everyone else in society seems to be responsible. What we are seeing is the old ploy by the robber who starts shouting 'Stop, thief!' and runs down the street pointing ahead at others." Murray Rothbard
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Quote about inflationary policy and its double robbery effect by Monika HausammannCopyright © yoice.net – Quote Artwork
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"Inflationary policy is thus robbery policy in a double sense: it robs people not only of their ownership of legitimately acquired goods and thus of the core and principle of freedom, but also of their drive to honest, sincere, responsible and sustainable dealings with fellow human beings and resources. Where such is not only not a taboo, but the order of the day, sooner or later ownership of one's own person and body will again be up for debate." Monika Hausammann
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Murray Rothbard quote about Federal Reserve money creation and bank depositsCopyright © yoice.net – Quote Artwork
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"At the base of the Fed pyramid, and therefore of the bank system's creation of "money" in the sense of deposits, is the Fed's power to print legal tender money. But the Fed tries its best not to print cash but rather to "print" or create demand deposits, checking deposits, out of thin air, since its demand deposits constitute the reserves on top of which the commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money."" Murray Rothbard
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