“It signals problems with respect to currency markets. Central banks should pay attention to it.”

They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.

You can’t have the capitalist system if an increasing number of people think it is unjust.

They seem to sense… that gold and economic freedom are inseparable.

Gold still represents the ultimate form of payment in the world.

It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.

We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.

The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.

The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.

We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.

Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.

No one has ever eliminated any of that stuff.

Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.

This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.

The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.

We will have more crises and none of them will look like this because no two crises have anything in common except human nature.

The issuing power should be taken from the banks and restored to the people to whom it properly belongs.

I believe that banking institutions are more dangerous to our liberties than standing armies.

If you do not see great riches in your imagination, you will never see them in your bank balance.

Entrepreneurs are always taking feedback, especially from their customers, bankers, workers, and sales force.

A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.

It should be the power of our vote, not the size of our bank accounts, that drives our democracy.

Laughing all the way to the bank, I spray flames. They cannot tame or placate the monster.

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.