A Quote by Lloyd Dorfman
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.
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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.
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.
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.
The goal of the FED, as with all central banks, is three-fold: (1) to protect the largest commercial banks from their depositors, who occasionally exercise their contractual right to withdraw currency (the ungrateful cads); (2) to control entry of newcomers into the bankers' cartel (interlopers); (3) to keep the stock market from collapsing in a panic, thereby persuading depositors to withdraw currency
I have dealt with politicians ever since I came into the government in 1971. I have seen many prime ministers, many finance ministers.
As you know, in the latter part of 2008 and early 2009, the Federal Reserve took extraordinary steps to provide liquidity and support credit market functioning, including the establishment of a number of emergency lending facilities and the creation or extension of currency swap agreements with 14 central banks around the world.
I've lived to see key parts of my research absorbed in textbooks and in central banks around the world. And some finance ministries, too.
Both in the US and throughout the world, there needs to be a growing presence of public development banks. These banks would make loans based on social welfare criteria - including advancing a full-employment, climate-stabilization agenda - as opposed to scouring the globe for the largest profit opportunities regardless of social costs.... Public development banks have always played a central role in supporting the successful economic development paths in the East Asian economies.
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.
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.
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.
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.
The financial system has to be regulated, we have to end with the tax havens, and it's necessary that the central banks in the world should control a little bit the banks' financing because they cannot bypass a certain range of leverage.
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.
The king shall singly deliberate over secret matters; for ministers have their own ministers, and these latter some of their own; this kind of successive line of ministers tends to the disclosure of counsels.
I think prime ministers, I actually think Cabinet ministers should be subject to intense scrutiny, I think that's in the public interest, even if some of the allegations made aren't right and so on, and they have to correct the record, it doesn't matter.
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