A Quote by Will Durant
Perhaps it is one secret of their power that, having studied the fluctuations of prices, the [bankers] know that history is inflationary.
Related Quotes
Bankers know that history is inflationary and that money is the last thing a wise man will hoard
Bankers know that history is inflationary and that money is the last thing a wise man will hoard.
It goes to establish a just and permanent principle of trade which puts an end to all serious fluctuations in prices and consequently, to all the insecurity and ruin which these fluctuations produce; and to build up those who are already ruined.
I really like knowing secrets, and once I do know that secret, I can keep it. But if I'm on the outside and I don't know the secret, that's a different story. I will try with all my power to get the secret out of the person who knows.
The politicians think the journalists have power, the journalists think bankers have power, bankers think lawyers have power. The truth is, nobody has power.
Because after a time having a secret and nobody knowing you have a secret us no fun. And although you dont want others to know what the secret is, you want them to at least know you have one.
In my early 20s, I studied history and politics, and I really thought that perhaps I would devote my life to that.
Speculation in oil stock companies was another great evil ... From the first, oil men had to contend with wild fluctuations in the price of oil. ... Such fluctuations were the natural element of the speculator, and he came early, buying in quantities and holding in storage tanks for higher prices. If enough oil was held, or if the production fell off, up went the price, only to be knocked down by the throwing of great quantities of stocks on the market.
It's a mistake to think that any increase in wages is inflationary and there is substantial room for non-inflationary wage growth, particularly at the bottom end of the scale.
On a given day, you can have market fluctuations where prices fluctuate far more than the underlying economic value of the unit.
I'm a small businessman and I'm well aware of the uncertainties of the economy, exactly what the 'inflationary spiral' means when I'm forced to raise prices to my customers, and how taxes can eat into your earnings.
I was born in the breezes, and I had studied the sea as perhaps few men have studied it, neglecting all else.
The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was consistently good for bankers, but was often disastrous for governments, businessmen, and the people generally.
Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.
Banking was conceived in iniquity and born in sin... Bankers own the Earth. Take it away from them but leave them the power to create money, and, with the flick of a pen, they will create enough money to buy it back again... Take this great power away from them and all the great fortunes like mine will disappear and they ought to disappear, for then this would be a better and happier world to live in... But, if you want to continue to be a slave of the bankers and pay the cost of your own slavery, then let the bankers continue to create money and control credit.
Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable.
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