A Quote by Raghuram Rajan
The Reserve Bank cannot just exist; its ability to say 'no' has to be protected.
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And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability.
I was Chairman of the Federal Reserve Bank of Kansas City. As you know, there are twelve banks and they have their citizens board, and I got elected to the Fed Chairmanship for the Federal Reserve Kansas City Bank back in the mid-'90s. It might have been 1995-'96.
Just as the day cannot exist without the night, just as life cannot exist without death, creativity cannot exist without silence. And vice versa is also true: silence cannot exist without creativity.
I know the Federal Reserve Bank can continue to print more and more money... but city and state governments cannot.
In April, we cannot see sunflowers in France, so we might say the sunflowers do not exist. But the local farmers have already planted thousands of seeds, and when they look at the bare hills, they may be able to see the sunflowers already. The sunflowers are there. They lack only the conditions of sun, heat, rain and July. Just because we cannot see them does not mean that they do not exist.
What distinguishes a human being from a computer? The ability to add up numbers? The ability to understand language? The ability to be logical? It is, of course, none of the above. It is the ability to play. Computers cannot have fun. They cannot fantasize. They cannot dream, they cannot experience emotion or summon intuition. These rare, precious qualities come naturally to every child on this earth yet they tend to be seen, by well meaning adults, as faults, foibles and failings. In pushing tiny toddlers to 'perform', we rob them of the ability to imagine.
Without sovereignty, a nation cannot exist. Without borders, it can't be defined or protected.
It is just that he should act with reserve towards those who act with reserve towards him. On the contrary, he gives himself entirely to those souls, who, driving from their hearts everything that is not God, and does not lead them to his love, and giving themselves to him without reserve, truly say to him: My God and my all.
Our world cannot be complete without you, and without hearing what you have to say. True justice cannot exist without compassion; compassion cannot exist without understanding. But no one will understand you unless you speak, and are able to speak clearly (Sister Janet to the students, page 155).
Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England....At the time of the Banks action I warned of its consequences....I felt that sooner or later the market had to break.
You know, if we're going to bring down the price of gas, you have to have three things. You have to have a big reserve, you have to have the ability to develop oil out of that reserve quickly, and you have to be able to produce oil at a relatively low cost.
Peace cannot exist without justice, justice cannot exist without fairness, fairness cannot exist without development, development cannot exist without democracy, democracy cannot exist without respect for the identity and worth of cultures and peoples.
They say the average bank robber lives within say about 20 miles of the bank that he robs There's this little bank not so far from here I've been watching now for a while Seems like lately alls I can think about is how bad I wanna go out in style
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 Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.
The States is run by the Federal Reserve, an institution that answers only to itself and to a few large banks. It's modelled on the Bank of England. Ben Franklin said that one of the main reasons America revolted was to get away from the Bank of England, the mother of all central banks - the most pernicious and insidious of all.
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