A Quote by James Surowiecki
Political risk is hard to manage because so much comes down to the personal choices of policymakers, whether prime ministers or heads of central banks.
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In the old days we were the challenger brand competing against the big banks, but today I go round the world and I sit with governors of central banks and finance ministers and, in some cases, prime ministers. They all know Travelex. We are regarded as the establishment - the world's largest retailer of foreign currency.
I find that it is much easier now for women to be in any position because, as you see, they are presidents of banks, they are prime ministers, they are doctors. Everything is about women.
The world changes! So we're in a situation today where the only policymakers that have flexibility are central banks. But they don't have the instruments! So they've had to experiment, and the more you experiment, the more uncertainty and the higher the risk of collateral damage.
What happened on "As Cool As I Am" was, you know how in the `90s, "the personal is political, the political is personal"? That was a really big thing. Choices you made about how you recorded and what instruments you used and how much real versus how much synthetic. Those were choices that were seen as very political at the time.
Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be.
British prime ministers and prime ministers' spouses and children are together becoming ever more like first families. They need to be given sufficient resources and personnel to enable them to carry out their shifting roles efficiently, decently, and safely.
Finance ministers and central bank governors have the seats at the table, not labor unions or labor ministers. Finance ministers and central bank governors are linked to financial communities in their countries, so they push policies that reflect the viewpoints and interests of the financial community and barely hear the voices of those who are the first victims of dictated policies.
Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.
We dream of an India where development is the result of all Chief Ministers, the Prime Minister, state Ministers, Union Ministers working together with even Local Body Authorities as one team, a strong and united Team India.
Resignations are for Prime Ministers and those caught with their trousers down, not for me.
I began to appreciate that authentic truth is never simple and that any version of truth handed down from on high - whether by presidents, prime ministers, or archbishops - is inherently suspect. The powerful, I came to see, reveal truth only to the extent that it suits them.
The Prime Minister and the Chief Ministers are one team. The Cabinet Ministers and the State Ministers are another team. The Civil Servants at the Centre and the States are yet another team. This is the only way we can successfully develop India.
Business cycles lengthened greatly during the 20th century, as central banks learned to manage national economies by raising and lowering interest rates.
We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.
Refuse to accept the narrative of history laid down by presidents, prime ministers, generals and journalists.
Managing risk is a key variable, frankly, all aspects of life, business is just one of them, and one of the things that most people do in terms of managing risk, that's actually bad thinking, is they think they can manage risk to zero. Everything has some risk to it. You know, you drive your car down the street, a drunk driver may hit you. So what you're doing is you're actually trying to get to an acceptable level of risk.
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