Quotes & Sayings About Demonetization

It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless. — Ludwig Von Mises

We know well enough that if we repeal this law and give nothing for it, the people of this country will regard it as a total demonetization of silver, which it will be, so far as this Congress is concerned, without any question. — Richard Parks Bland

It is impossible to say how far the present value of money depends on its monetary employment and how far on its industrial employment. When the institution of money was first established, the industrial basis of the value of the precious metals may have preponderated; but with progress in the monetary organization of economic life the monetary employment has become more and more important. It is certain that nowadays the value of gold is largely supported by its monetary employment, and that its demonetization would affect its price in an overwhelming fashion. — Ludwig Von Mises

Skype demonetized long-distance telephony; Craigslist demonetized classified advertising; Napster demonetized the music industry. This list goes on and on. More critically, because demonetization is also deceptive, almost no one within those industries was prepared for such radical change. — Peter H. Diamandis