Gold Quotes by Paul Volcker

Paul Volcker

It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with ‘free banking.’ The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.

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Paul Volcker

It was probably a mistake to allow gold to rise so high.

Gold

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Mistake

Paul Volcker

That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.

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Mistake

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Gold Quotes by Paul Volcker

It was probably a mistake to allow gold to rise so high.

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Gold Quotes by

Michael Lee-Chin

Shannon Hale

Alan Brennert

Paolo Bacigalupi

Robert Graves

Topics by Paul Volcker

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