A Quote by Joseph Stiglitz

It is unlikely that others would even demand their money back overnight, for doing so would lead to the value of the dollar plummeting; what they would get back with be worth little. But what we are already seeing is an erosion of confidence of the dollar, which is seeing the dollar fall in value.

Joseph Stiglitz

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Back Confidence Demand Doing Dollar Erosion Even Fall Get Get Back Lead Little Money Others Overnight Seeing Unlikely Value Which Worth Would

Quote Author

Joseph Stiglitz
American - Economist
Born: February 9, 1943

Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.

Mark Skousen

The value of a dollar is to buy just things; a dollar goes on increasing in value with all the genius and all the virtue of the world. A dollar in a university is worth more than a dollar in a jail; in a temperate, schooled, law-abiding community than in some sink of crime, where dice, knives, and arsenic are in constant play.

Ralph Waldo Emerson

At the end of the day, I think the most conservative principle there is, is giving people a dollar worth of value for a dollar worth of tax paid.

Bill Haslam

If you're really serious about protecting people's incomes, you've got to consider how you're going to protect the dollar. If you don't have the dollar maintaining its value, no matter where you put the money you're not going to have any value.

Ron Paul

As the dollar's exchange value declines, so will the value of dollar-denominated financial instruments, regardless of how many bonds the Federal Reserve purchases.

Paul Craig Roberts

When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.

Peter Schiff

My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.

Sam Zell

They say kids today don't know the value of a dollar. They certainly do know the value of a dollar. That's why they ask for five.

Robert Orben

I was always a kid trying to make a buck. I borrowed a dollar from my dad, went to the penny candy store, bought a dollar's worth of candy, set up my booth, and sold candy for five cents apiece. Ate half my inventory, made $2.50, gave my dad back his dollar.

Guy Fieri

Dollar bills have absolutely no value except in our collective imagination, but everybody believes in the dollar bill.

Yuval Noah Harari

Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.

Peter Schiff

You get in a lot of trouble when you start putting fictitious numbers on value. I think to just say, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today. And I think once you start putting phony figures into financial statements, you get in a lot of trouble.

Howard Warren Buffett

The only way Congress can get one dollar to spend is to take that one dollar from Americans, borrow that one dollar from Americans, or inflate that one dollar from Americans. So, it's very much like the visual image of a swimming pool. A person notes there is a shallow end, so he takes the water out of the deep end and pours it in the shallow end, hoping to raise the height of the water in the pool - and you would call that person stupid.

Walter E. Williams

If all bank loans were paid, there would not be a dollar of coin or currency in circulation. Someone has to borrow every dollar we have in circulation. We are absolutely without a permanent money system.

Robert W. Hemphill

The proposal for a new global reserve currency - or Special Drawing Rights - is a good idea for many reasons. Yes, for the Chinese it would cushion any fall in the value of the dollar per se because it would only be part of a basket of other currencies, including the yen and the euro.

Joseph Stiglitz

Americans have seen the value of the dollar slowly decline due to the steady erosion of inflation.