A Quote by Patrick M. Byrne

We are on a crazy strategy with our central bank. It's good to have alternative ecosystems. It's not that the dollar will go away, but we need other options if it crashes or wildly inflates.
If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get stock options. If the bank goes under, they get to keep all of these salaries and options - and the government will bail out the bank. These guys will take their money and run, which is pretty much what they're doing now.
The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a fixed exchange rate, abolish your central bank and adopt a currency board instead. Either extreme; a fixed exchange rate through a currency board, but no central bank, or a central bank plus truly floating exchange rates; either of those is a tenable arrangement. But a pegged exchange rate with a central bank is a recipe for trouble.
I want to work in a bank, definitely. Hopefully, my acting career will go well. But if it doesn't, I go to a bank. If it does, then even at the age of 40, I will still go to a bank, but I have to work in a bank, because I'm really fond of taxation and accounts and investments and all of that. So I will do it. At some point, I will, yes.
I have always thought and I still think that the Central Bank should act independently. Indeed, it does, you can take my word. I do not interfere in the decisions of the Central Bank and I do not give instructions to the Bank management or to its head.
A government cannot be expected to allow independence to its central bank unless that bank is also accountable to it and to the wider public. That is, the central bank must be able to be judged on whether or not it has achieved its agreed objective.
The writer cultivates, extends, raises and inflates his imagination, sure that this is his destiny, his usefulness, his contribution to the understanding of good and evil. As he inflates his imagination he inflates his capacity for evil.
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?
We believe that our truly urgent need is to make our nation secure, our economy strong and our dollar sound. For every American this matter of the sound dollar is crucial. Without a sound dollar, every American family would face a renewal of inflation, an ever-increasing cost of living, the withering away of savings and life insurance policies.
In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank... need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
I will always choose the dollar bill carrying a wildly fluctuating discount rather than the dollar bill selling for a quite stable premium.
I look away at car crashes, and I know people who look away at car crashes, because it makes us uncomfortable to watch other people in pain.
A bad strategy will fail no matter how good your information is. And lame execution will stymie a good strategy. If you do enough things poorly, you'll go out of business.
The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable - there is financial stability - and that is the role that the central bank plays.
Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.
You need to not be able to do anything else, to be in this business. If you have other options, in those unemployed moments, those other options will take precedent. From a directorial standpoint, I think it's really Freudian, the amount of trust I have in filmmakers because I have such a trusting relationship with my dad.
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