A Quote by Rene Daumal

Common experience is the gold reserve which confers an exchange value on the currency which words are; without this reserve of shared experiences, all our pronouncements are checks drawn on insufficient funds.

Rene Daumal

Quote Topics

Checks Common Common Experience Currency Drawn Exchange Experience Experiences Funds Gold Insufficient Our Reserve Shared Shared Experiences Value Which Without Words

Quote Author

Rene Daumal
French - Writer
March 16, 1908 - May 21, 1944

The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency.

Robert C. Solomon

The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.

Jim Rogers

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

Let us not forget that we have two governmental reserve funds: the Reserve Fund and the National Wellbeing Fund that represent together $100 billion.

Vladimir Putin

The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.

Henry Cabot Lodge

The financial markets are rigged by the big banks, the Federal Reserve, and the Treasury in the interests of the profits of the few big banks and the dollar's exchange value, which is the basis of U.S. power.

Paul Craig Roberts

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

We were not foolish enough to try to make a currency [backed by] gold of which we had none, but for every mark that was issued we required the equivalent of a mark's worth of work done or goods produced ... we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank.

Adolf Hitler

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

Paying interest on reserve balances enables the Fed to break the strong link between the quantity of reserves and the level of the federal funds rate and, in turn, allows the Federal Reserve to control short-term interest rates when reserves are plentiful.

Janet Yellen

So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.

Robert C. Solomon

If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it.

Robert C. Solomon

There are unknown forces in nature; when we give ourselves wholly to her, without reserve, she lends them to us; she shows us these forms, which our watching eyes do not see, which our intelligence does not understand or suspect.

Auguste Rodin

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.

Alphonsus Liguori

I think I understand the Constitution a little bit because in 1971 we went off the gold standard under President Nixon into the Federal Reserve notes because we were a worldwide currency.