Quotes & Sayings About Currency Exchange

Credit Theorists insisted that money is not a commodity but an accounting tool. In other words, it is not a "thing" at all. For a Credit Theorist can no more touch a dollar or a deutschmark than you can touch an hour or a cubic centimeter. Units of currency are merely abstract units of measurement, and as the credit theorists correctly noted, historically, such abstract systems of accounting emerged long before the use of any particular token of exchange. — David Graeber

A currency designed for long-term storage and investment doesn't do so well at encouraging transactions and exchange in the moment. — Douglas Rushkoff

THE economic consequences of fluctuations in the objective exchange-value of money have such important bearings on the life of the community and of the individual that as soon as the State had abandoned the attempt to exploit for fiscal ends its authority in monetary matters, and as soon as the large-scale development of the modern economic community had enabled the State to exert a decisive influence on the kind of money chosen by the market, it was an obvious step to think of attaining certain socio-political aims by influencing these consequences in a systematic manner. Modern currency policy is something essentially new; it differs fundamentally from earlier State activity in the monetary sphere. — Ludwig Von Mises

The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a fixed exchange rate, abolish your central bank and adopt a currency board instead. Either extreme; a fixed exchange rate through a currency board, but no central bank, or a central bank plus truly floating exchange rates; either of those is a tenable arrangement. But a pegged exchange rate with a central bank is a recipe for trouble. — Milton Friedman

At its core, bitcoin is a smart currency designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions ... all good things. — Peter Diamandis

Gradually, he didn't doubt, the world would calm down into a gigantic welfare state devoted to sporting, cultural and sexual exchange, with the accepted international currency being items of hifi equipment. — Julian Barnes

It's a good thing that it is getting simpler to register a company in China, it is good that the exchange rate of our currency is getting more flexible and that it's getting easier for Chinese businesspeople to travel. All of this opens up our economy. — Zhang Xin

No duty is more imperative for the government than the duty it ;owes the people to furnish them with a sound and uniform currency, an of regulating the circulation of the medium of exchange so that labor will be protected from a vicious currency [private bank-created, interest-bearing debt], and commerce will be facilitated by cheap and safe exchanges. — Abraham Lincoln

There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like a safe haven if international exchange rates break down. — Michael Hudson

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

The harder a government, such as a dictatorship, tries to maintain monetary policy autonomy, the more it must either limit the movement of capital into and outside of the country, or the more it must compromise exchange-rate stability. — Janet M. Tavakoli

Celebrity is a currency with an exchange rate almost as strong as anonymity. — Jon Foreman

But I've never seen a free exchange. A gift is something else. I lived for four years in a society without currency, and I never felt that the absence of money made injustice easier to bear. And I can't forget that the very idea of value had disappeared. Nothing could be estimated, or esteemed, anymore - not human life or anything else. But to assess something, to evaluate it, doesn't necessarily mean to have contempt for it or to destroy it. Nothing — Rithy Panh

That instant proved to me that it was not the first, almost unemotional, sighting of a potential lover that was significant, but the second, the moment not of recognition but of confirmation, so that every other consideration is irrelevant, as if it might have mattered at some point in the past but no longer had any currency in the charged wordless exchange that seals the matter for ever, regardless of the dangers thus incurred and whatever the cost. — Anita Brookner

Imagine you're alive at the end of the Civil War. You're living in the South, but you're a Northerner. You plan to move home as soon as the war's over. While in the South you've accumulated lots of Confederate currency. Now, suppose you know for a fact the North's going to win the war, and the end is imminent. What will you do with your Confederate money? If you're smart, there's only one answer. You should immediately cash in your Confederate currency for U. S. currency - the only money that will have value once the war's over. Keep only enough Confederate currency to meet your short-term needs. Kingdom currency, backed by the eternal treasury, is the only medium of exchange recognized by the Son of God, whose government will last forever. The currency of his kingdom is our present faithful service and sacrificial use of our resources for him. The payoff in eternity will be what Paul called 'a firm foundation' consisting of treasures beyond our wildest dreams. — Randy Alcorn

The euro is a hybrid of a fixed exchange-rate regime, like the 1980s ERM or the 1930s gold standard, and a state currency. — Yanis Varoufakis

There is no sphere of human thought in which it is easier to show superficial cleverness and the appearance of superior wisdom than in discussing questions of currency and exchange — Winston Churchill

If you are willing to reflect on the courage and moderation of other people, you will find them strange ... they all consider death a great evil ... and the brave among them face death, when they do, for fear of greater evils ... therefore, it is fear and terror that make all men brave, except for philosophers. yet it is illogical to be brave through fear and cowardice ... what of the moderate among them? is their experience not similar? ... they master certain pleasures because they are mastered by others ... i fear this is not the right exchange to attain virtue, to exchange pleasures for pleasures, pains for pains, and fears for fears, the greater for the less like coins, but that they only valid currency for which all these things should be exchanged is wisdom. — Plato

Over the course of human history, many items have briefly flourished as means of exchange, only to be demonetarized. Now, we have demonetarized money. — Markham Shaw Pyle

If you want an alternative currency, check out gold. It has stood the test of thousands of years as a store of value and medium of exchange. — Paul Singer

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. — Paul Volcker

At that same time, the Communist regime let the inflation run its course and then, devalued the currency. They issued a new kind of lei. Everybody could exchange 80,000 lei for 20 new lei. The day before the exchange, I had 2 million lei. For that amount, I bought two pairs of hand crocheted summer gloves; there was nothing else available. I would have preferred to purchase a kilo meat, but that was out of the question, unrealistic thinking. — Pearl Fichman

An attempt is sometimes made to demonstrate the desirability of measures directed against speculation by reference to the fact that there are times when there is nobody in opposition to the bears in the foreign-exchange market so that they alone are able to determine the rate of exchange. That, of course, is not correct. Yet it must be noticed that speculation has a peculiar effect in the case of a currency whose progressive depreciation is to be expected while it is impossible to foresee when the depreciation will stop, if at all. While, in general, speculation reduces the gap between the highest and lowest prices without altering the average price-level, here, where the movement will presumably continue in the same direction, this naturally can not be the case. The effect of speculation here is to permit the fluctuation, which would otherwise proceed more uniformly, to proceed by fits and starts with the interposition of pauses. — Ludwig Von Mises

We have made it possible, without gold and without foreign exchange, to maintain the value of the German mark. Behind the German mark stands the German capacity for work, while some foreign countries, suffocated by gold, have been compelled to devalue their currencies. — Adolf Hitler

I have heard your orators speak on many questions. One among them the so-called vital question of money which is above all things the most coveted commodity but I, as a Jainist, in the name of my countrymen and of my country, would offer you as the medium of the most perfect exchange between us, henceforth and forever, the indestructible, the unchangeable, the universal currency of good will and peace, and this, my brothers and sisters, is a currency that is not interchangeable with silver and gold, it is a currency of the heart, of the good life, of the highest estate on the earth. — Virchand Gandhi

Find the human in the technology. The currency marketers trade in has not changed even if the methods have. Emotion is what we exchange. — Simon Mainwaring

This is the currency of friendship, traded over years and miles, and I hope it's an even exchange someday. For now, I do what all best friends do when there's nothing left to say. We lie together in all the darkness, shoulder to shoulder, and wait for the worst to be over. — Emery Lord

Tragedy was foresworn, in ritual denial of the ripe knowledge that we are drawing away from one another, that we share only one thing, share the fear of belonging to another, or to others, or to God; love or money, tender equated in advertising and the world, where only money is currency, and under dead trees and brittle ornaments prehensile hands exchange forgeries of what the heart dare not surrender. — William Gaddis

Well, I make a practice of not commenting on the role of the relative exchange value of our currency. — John W. Snow

My back pay came to $892,746,012. Not in the form of bales of currency, fortunately; on Heaven they used an electronic credit exchange, so I carried my fortune around in a little machine with a digital readout. To buy something you punched in the vendor's credit number and the amount of purchase; the sum was automatically shuffled from your account to his. The machine was the size of a slender wallet and coded to your thumbprint. — Joe Haldeman