A Quote by John Exter

We are in a world of irredeemable paper money - a state of affairs unprecedented in history.

John Exter

Quote Topics

Affairs History Money Paper Paper Money State Unprecedented World

Quote Author

John Exter
September 17, 1910 - February 28, 2006

Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.

David Ricardo

We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.

Daniel Webster

The present illegitimacy ratio is not only unprecedented in the past two centuries; it is unprecedented, so far as we know, in American history going back to colonial times, and in English history from Tudor times.

Gertrude Himmelfarb

While I live I will never resort to irredeemable paper.

Napoleon Bonaparte

But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.

George Washington

If you are not open to the unprecedented, you will repeat history. If you are open to the unprecedented, you will change history. The difference is prayer.

Mark Batterson

There was no news in the Dan Rather piece. They didn't say [to Bush]: "We found a piece of paper that was overlooked in the 300,000 pieces of paper that were covered in the Iran-Contra hearings, and we have a piece of news we'd like to ask you about." CBS decided to create a media event and cover it in its own fashion. This was unprecedented in American history. CBS cancelled two-thirds of the newscast... to get a guy and take him out.

Roger Ailes

In 1971, the U.S. 'closed the gold window,' starting an era of global fiat money reference-pricing that has been unprecedented in history. Never before had the world operated on the basis of no country anywhere having a currency tied to something with intrinsic value like gold.

Max Keiser

Apart from medieval China, which invented both paper and printing centuries before the West, the world had never seen government paper money until the colonial government of Massachusetts emitted a fiat paper issue in 1690.

Murray Rothbard

There are a set of men who go about making purchases upon credit, and buying estates they have not wherewithal to pay for; and having done this, their next step is to fill the newspapers with paragraphs of the scarcity of money and the necessity of a paper emission, then to have a legal tender under the pretense of supporting its credit, and when out, to depreciate it as fast as they can, get a deal of it for a little price, and cheat their creditors; and this is the concise history of paper money schemes.

Thomas Paine

Kindness is not an illusion and violence is not a rule. The true resting state of human affairs is not represented by a man hacking his neighbor into pieces with a machete. That is a sick aberration. No, the true state of human affairs is life as it ought to be lived.

Paul Rusesabagina

The world can now maintain an acute infection in a way that is unprecedented in the history of life on our planet.

Nathan Wolfe

The history of paper money is an account of abuse, mismanagement, and financial disaster.

Richard Ebeling

All varieties of interference with the market phenomena not only fail to achieve the ends aimed at by their authors and supporters, but bring about a state of affairs which - from the point of view of their authors and advocates valuations - is less desirable than the previous state of affairs which they were designed to alter.

Ludwig von Mises

The dreamers, those who misread the actual state of affairs and act upon their emotions, are often the source of the greatest mistakes in history-the wars that are not thought out, the disasters that are not foreseen