Jump to content

Alan Greenspan, Federal Reserve Bank Of Chicago, Federal Reserve Bank Of New York, Federal Reserve Bank Of Philadelphia


nivek
 Share

Recommended Posts

"As long as we issue fiat currency,

I see no alternative to a legal tender law."

-- Alan Greenspan

(1926- ) Chairman of the Federal Reserve Board of Governors (1987-2006)

11/20/2003

http://quotes.liberty-tree.ca/quote_blog/A...span.Quote.2BDA

 

 

"The actual process of money creation takes place in commercial banks.

As noted earlier, demand liabilities of commercial banks are money."

-- Federal Reserve Bank of Chicago

Source: Modern Money Mechanics, p.3

http://quotes.liberty-tree.ca/quote_blog/F...cago.Quote.2BCC

 

 

"Because of 'fractional' reserve system, banks, as a whole,

can expand our money supply several times, by making loans and investments."

-- Federal Reserve Bank of New York

Source: The Story of Banks, p.5.

http://quotes.liberty-tree.ca/quote_blog/F...York.Quote.2BC9

 

 

"Without the confidence factor, many believe

a paper money system is liable to collapse eventually."

-- Federal Reserve Bank of Philadelphia

Source: Gold, p. 10

http://quotes.liberty-tree.ca/quote_blog/F...phia.Quote.2BCA

Link to comment
Share on other sites

  • 2 weeks later...

I think it just means these folks said some things he agrees with. :shrug:

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

By using this site, you agree to our Guidelines.