A Quote by Hans F. Sennholz

Sound money and free banking are not impossible; they are merely illegal.

Hans F. Sennholz

Quote Topics

Banking Free Illegal Impossible Merely Money Sound

Quote Author

Hans F. Sennholz
American - Economist
February 3, 1922 - June 23, 2007

American money was never more sound, or banking more free, than 200 years ago. Since then, it's been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.

Llewellyn Rockwell

Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.

Llewellyn Rockwell

It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.

Ludwig von Mises

It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.

Henry Paulson

So long as large sums of money are involved - and they are bound to be if drugs are illegal - it is literally impossible to stop the traffic, or even to make a serious reduction in its scope.

Milton Friedman

Managing and moving your money should be a right, not a privilege. This isn't about banking the unbanked. It's about re-imagining what consumer retail banking can be.

Dan Schulman

The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. [...] Everybody seems to think it is a free and clear open checkbook. It's not. [...] The banking system in China is extremely fragile.

James Chanos

The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. Everybody seems to think it is a free and clear open checkbook. It's not. The banking system in China is extremely fragile.

James Chanos

Moving from corporate banking to retail banking to international banking to supervisory roles has meant completely reinventing myself.

Chanda Kochhar

I'm not against banking. Banking allowed our modern society to happen, it is essential. It connects the work through finance, so banking is good.

Adam McKay

It was humanly impossible for the disciples to free themselves from their selfish pursuit of self-exaltation, just as it's impossible for us to free ourselves from the very same sins.

C. J. Mahaney

Innovation has stalled in the banking industry. While the rest of the world is in the digital age, banking remains stagnant. We are here to change this and bring banking to the 21st century. We will ensure our customers feel involved in the progress of this bank and are offering them a truly enjoyable banking experience – different from anything they have experienced before.

Jay Sidhu

Marijuana was made illegal because of William Randolph Hearst, the big newspaper guy. He owned thousands of acres of timberland and he didn't want hemp to be used for paper, he wanted to force everyone to buy his trees. And that's why he was the one that spearheaded making it illegal in Washington. Always follow the money, it's done for money purposes.

Jesse Ventura

In the United States there are only two exceptions: banks have to report deposits they suspect to be related to either terrorism or drug trafficking. But if your funds derive from trafficking women and children for sexual exploitation, for example, or from illegal arms trafficking or any other illegal activity, then banks in the US are legally free to accept your money and are not required to report your deposit to the authorities.

Thomas Pogge

The Cyprus Financial Crisis was a devastating blow to Cypriots and halted their banking system. Banks closed for two weeks to prevent a banking panic. When they reopened, capital controls were placed on the people's money, and customers were met by armed guards at the branches.