A Quote by Mervyn King

There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.

Mervyn King

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Account Adequate Anything Bank Banks Barter Being Central Central Bank Central Banks Commonly Computing Consumers Could Currently Direct Directly Each Economy Essentially Exchange Exist Form Immediately Longer Make Massive Money No Reason Nor Other Pay Payment People Power Present Producers Products Reason Recognize Requires Services Settled Some Sure System Through Transactions Unit Used Without Would

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Mervyn King
Royalty
Born: March 30, 1948

It is not wise for us to permit a few people on the Federal Reserve Board to have life and death power over our economy. My recommendation for reducing some of that power is to repeal legal tender laws and eliminate all taxes on gold, silver and platinum transactions. That way there would be money substitutes and the government money monopoly would be reduced and hence the ability to tax - some people would say steal from - us through inflation.

Walter E. Williams

A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.

Milton Friedman

It is quite possible even that the planet would no longer be able to sustain human life. Probably, the planet eventually would regenerate and produce some other life form. Consciousness would flow into some other life form and express itself through that, whatever that would be.

Eckhart Tolle

There could be a 'community of communities' rather than a state. They would be united in some way but without any governing body. It would be made up of unions, credit unions instead of banks. There would be no more lending at interest. There would be no more money lenders.

Dorothy Day

I made my money with software - encoded knowledge without which few products and services can exist today - and so it seemed imperative that this would be the field where I would give something back.

Hasso Plattner

I cured with the power that came through me. Of course, it was not I who cured,it was the power from the Outer World; the visions and ceremonies only made me like a whole through which the power could come to the two-leggeds. If I thought that I was doing it myself, the hole would close up and no power could come through. Then everything I could do would be foolish.

Black Elk

A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.

Nouriel Roubini

If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible - but there it is.

Robert W. Hemphill

Many of the deficiencies of our economic system could be alleviated if ways were found to broaden the ownership of the means of production... This has happened in some companies through ESOPs. Successful approaches of this sort would pay dividends in terms of employee commitment and morale. And they would not deprive anyone of his present holdings since they are based on future growth.

John D. Rockefeller

It would be virtually impossible to finance wars without taxing the people, and the welfare system would be limited because there wouldn't be enough money in the bank to sustain it as it is, and that would help prices stay under control.

Ron Paul

Is there a market for somebody selling a credit card that helps people pay down their balances? I think the question is yes. But it would have to be sold by a bank that's really willing to invest in being a trusted partner with its consumers, because they will make less money on each consumer.

Richard Thaler

If we knew that we would meet the Lord tomorrow - through our premature death or through His unexpected coming - what would we do today? What confessions would we make? What practices would we discontinue? What accounts would we settle? What forgivenesses would we extend? What testimonies would we bear? If we would do those things then, why not now?

Dallin H. Oaks

Religion is as necessary to reason as reason is to religion. The one cannot exist without the other. A reasoning being would lose his reason, in attempting to account for the great phenomena of nature, had he not a Supreme Being to refer to; and well has it been said, that if there had been no God, mankind would have been obliged to imagine one.

George Washington

Why do I have an issue with banks? They have their greedy fingers in everyones money. No other industry has the power to deduct a bill or fees directly from your own bank account without so much as a notice.

Jonathan Raymond

Why do I have an issue with banks? They have their greedy fingers in everyone's money. No other industry has the power to deduct a bill or fees directly from your own bank account without so much as a notice.

Jonathan Raymond

The one thing you can ask, I think, is that actors get paid a living wage. I would like it if all the repertory theatres that currently exist could do that. It would make a huge difference.

Ian Mckellen

A Quote by Mervyn King

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