Quote

Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.

The way the bankers have kind of toppled the way money is distributed, and taken most of it into their own hands, is as good as Stalin or Hitler.

I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.

The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was consistently good for bankers, but was often disastrous for governments, businessmen, and the people generally.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

Economists tend to think they are much, much smarter than historians, than everybody. And this is a bit too much because at the end of the day, we don't know very much in economics.

After a long period in which the desired direction for inflation was always downward, the industrialized world's central banks must today try to avoid major changes in the inflation rate in either direction.

A wise man should have money in his head, but not in his heart.

In times of crisis, cash is king.