A Quote by Nick Clooney

When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis.

Nick Clooney

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Bank Class Destroyed Directly Failures Germany Inflation Led Middle Middle Class Rise Runaway Struck Which

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Nick Clooney
American - Politician
Born: January 13, 1934

The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.

Milton Friedman

The Nazi Party was, in the early 1920s, but one among many nationalist and volkisch radical political groups. It was catapulted to prominence with the onset of economic recession in the late 1920s... The Nazis owed their spectacular to a combination of two discrete sets of factors: first, their distinctive organisation and strategy; and secondly, the wider socio-economic conditions which created climates of opinion and sets of grievances on which the Nazis could prey.

Mary Fulbrook

There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.

Peter Schiff

What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.

Ludwig von Mises

I am confident in saying that Oberlin did more for me than vice versa. I took a fantastic class in religion, which led me to archaeology, which got me to the Middle East, which led me to international relations, which launched me on my career.

Richard N. Haass

The rise of globalization, the rise of finance capital, the elimination of the manufacturing base, the decimation of the working class, particularly in terms of those who had some comforts that approximated what the middle class had.

Henry Giroux

I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.

Janet Yellen

Barack Obama destroyed the middle class. Whatever you want to say about his rhetoric, the rich got richer, but the poor got poorer, and the middle class got wiped out. That's really what Trump appealed to and inspired in the forgotten man.

Steve Scalise

I grew up in a working class neighborhood in Sweden, which, during my teens, gentrified and is now completely middle class and even upper middle class.

Joel Kinnaman

My struggle led to the reunification of Germany and the creation of the state of Europe. We destroyed the borders; globalisation is on the horizon.

Lech Walesa

My father was a black, working-class man who arrived here with no money in his pocket from Nigeria; my mum came from more of a middle-class background, whose father had prosecuted the Nazis at Nuremberg.

Chuka Umunna

In Germany I have been acknowledged again since the fall of Hitler, but my works, partly suppressed by the Nazis and partly destroyed by the war; have not yet been republished there.

Hermann Hesse

As 'Austrian' business cycle theory has pointed out, any bank credit inflation sets up conditions for boom-and-bust; there is no need for prices actually to rise.

Murray Rothbard

In sport, the money goes to the talent; it goes directly to the worker - unlike a bank, which sits in the middle of transactions and whose income bears no relation to any of the services it provides.

John Lanchester

The most sinister of all taxes is the inflation tax and it is the most regressive. It hits the poor and the middle class. When you destroy a currency by creating money out of thin air to pay the bills, the value of the dollar goes down, and people get hit with a higher cost of living. It's the middle class that's being wiped out. It is most evil of all taxes.

Ron Paul

So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?

Murray Rothbard

A Quote by Nick Clooney

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