A Quote by William McChesney Martin
The Federal Reserve... is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.
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We own? the Federal Reserve. There is this misconception that the Federal Reserve is some private entity. But if I might give an analogy here, we - U.S. taxpayers - own all the stock in the Federal Reserve.
The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.
When it appears as though the governors of the Federal Reserve believe that the end of the rate increases is near, that's very good news for investors. A lack of ambiguity from the Federal Reserve is always a little bit of a shocker.
It has been said that the Fed's job is to take the punch bowl away just as the party gets going, raising interest rates when the economy is growing too fast and inflation threatens.
I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve - it's taxpayer's money that's being used there.
If Federal Reserve loans are subsidies, it doesn't show up in the federal budget.
If Congress wanted to intervene with the Federal Reserve, well, we created the Federal Reserve. We could uncreate it. But would you want Congress regulating the money supply? We'd have drowned in inflation, or gone bankrupt, decades ago.
Before I studied the art, a punch to me was just like a punch, a kick just like a kick. After I learned the art, a punch was no longer a punch, a kick no longer a kick. Now that I've understood the art, a punch is just like a punch, a kick just like a kick. The height of cultivation is really nothing special. It is merely simplicity; the ability to express the utmost with the minimum.
The increase in the assets of the Federal Reserve Banks from 143 Million dollars in 1913 to 45 Billion dollars in 1949 went directly to the private stockholders of the [Federal Reserve] banks.
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.
Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.
America really started to die when the Federal Reserve was founded, and it really started to die in 1971 when the gold backing was taken away from the dollar, and this currency with Ben Bernanke just printing up or counterfeiting as much money as he wants and destroying the economy is really destroying the economy.
The Federal Reserve system obviously doesn't work anymore - they keep lowering the federal discount rate, and all that happens is that the banks are making a fortune, and the old folks' CDs are getting chewed up.
I don't overswing any more. I can throw a punch and be right in position to punch again. No more 'Hail Mary' punches, where it took me five minutes to get back in position.
When it comes to the Federal Reserve, there's an awful lot of books out there; in my library, I bet I've got 200 books if I've got any on the Federal Reserve. And we don't need any more books, we need action, and that's what the Liberty Dollar did, it gave people a way to take action. Our catch phrase was you want to "make money, do good, and have fun," and people really responded to that.
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.
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