♦ nivek ♦ Posted February 20, 2009 Report Share Posted February 20, 2009 "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 More sharing options...
scepticjoe Posted March 4, 2009 Report Share Posted March 4, 2009 I see you like to quote from Ayn Rand and Alan Greenspan, two members of "the collective." http://en.wikipedia.org/wiki/The_Ayn_Rand_Collective Does this mean you are a fan of the members of the collective? (tic) Link to comment Share on other sites More sharing options...
woodsmoke Posted March 4, 2009 Report Share Posted March 4, 2009 I think it just means these folks said some things he agrees with. Link to comment Share on other sites More sharing options...
Recommended Posts