A Quote by John Maynard Keynes
Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.
Related Quotes
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.
The best way to destroy the capitalist system is to debauch the currency.
Few policies are more calculated to destroy the existing basis of a free society than the debauching of its currency. And few tasks, if any, are more important to the champion of freedom than creation of a sound monetary system.
Lenin lived, Lenin lives, Lenin will live.
What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.
The regulator banned cryptocurrency... then there was an order from the Supreme Court. So, in the absence of any strong law, it was very important for us to come out with a comprehensive law-one for the private digital currency and second for the government for its digital form of currency, or the virtual currency.
The available supply of gold and silver being wholly inadequate to permit the issuance of coins of intrinsic value or paper currency convertible into coin of intrinsic value or paper currency convertible into coin in the volume required to serve the needs of the People, some other basis for the issue of currency must be developed, and some means other than that of convertibility into coin must be developed to prevent undue fluctuation in the value of paper currency or any other substitute for money intrinsic value that may come into use.
Regarding themselves as irreplaceable, both Lenin and Stalin tried in different ways to destroy their successors - Lenin through a testament that attacked Stalin and Trotsky, Stalin through purges culminating in the Doctors' Plot of 1953.
Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.
I hold all idea of regulating the currency to be an absurdity; the very terms of regulating the currency and managing the currency I look upon to be an absurdity; the currency should regulate itself; it must be regulated by the trade and commerce of the world; I would neither allow the Bank of England nor any private banks to have what is called the management of the currency.
Lenin is not comparable to any revolutionary figure in history. Revolutionaries have had ideals. Lenin has none.
The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid avarice.
Others loved themselves, money, theories, power: Lenin loved his fellow men.... Lenin was God, as Christ was God, because God is Love and Christ and Lenin were all Love!
[Vladimir] Lenin died in January, 1924; three months later [Joseph] Stalin expounded in writing Lenin's conception of the proletarian revolution.
Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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