A Quote by John Kenneth Galbraith
In central banking as in diplomacy, style, conservative tailoring, and an easy association with the affluent count greatly and results far much less.
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Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.
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.
The fact is that, except for those very few whose wealth is overwhelmingly or entirely inherited, the more affluent have usually worked harder than the less affluent.
Diplomacy is really far less important than the stock movements within Russia.
A lot of artists who have a certain style are expected to more or less keep doing their style. It's so easy to get into that rut of production.
Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.
I believe in much more diplomacy, not less.
I'm one of the most durable and fervent advocates of space exploration, but my take is that we could do it robotically at far less cost and far greater quantity and quality of results.
When you own gold you're fighting every central bank in the world. That's because gold is a currency that competes with government currencies and has a powerful influence on interest rates and the price of government bonds. And that's why central banks long have tried to suppress the price of gold. Gold is the ticket out of the central banking system, the escape from coercive central bank and government power.
I thought he was an interesting central figure, central character, one who is definitely not your typical central character figure in a film, who's easy to like. He's not easy to like. It forces you to involve yourself with what's going on.
The Berkshire-style investors tend to be less diversified than other people. The academics have done a terrible disservice to intelligent investors by glorifying the idea of diversification. Because I just think the whole concept is literally almost insane. It emphasizes feeling good about not having your investment results depart very much from average investment results. But why would you get on the bandwagon like that if somebody didn't make you with a whip and a gun?
I catch as much hell from the hard-core conservative people as I do the far left. The only difference is that the far right don't bring the hate to the table that the far left does. And that's my party. They just deal in so much hate. I mean the far left, not the Democrats, the far left really deal in hate, hate, hate, hate, hate.
Tennesseans know they can count on me to never compromise on independent, conservative principles and that I will always fight for smaller government, less spending, and more jobs.
Not everything that counts can be counted. You can count sales. You can count fans and followers. You can count pins and tweets. But you can't count passion. You can't count commitment. You can't count engagement. You can't count relationships.
A radical is one of whom people say ''He goes too far.'' A conservative, on the other hand, is one who ''doesn't go far enough.'' Then there is the reactionary, ''one who doesn't go at all.'' All these terms are more or less objectionable, wherefore we have
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