Us Federal Reserve Quotes & Sayings

The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game. The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about 'inflation,' for which virtually everyone else in society seems to be responsible. What we are seeing is the old ploy by the robber who starts shouting 'Stop, thief!' and runs down the street pointing ahead at others. — Murray Rothbard

The reason inflation was brought down to manageable levels, by the time of Ronald Reagan's re-election, was directly attributable to Jimmy Carter's very courageous act, hiring a Federal Reserve chair, with the charge to induce a recession. That recession was probably the reason he didn't win a second term. — Rick Perlstein

Our world isn't about ideology anymore. It's about complexity. We live in a complex bureaucratic state with complex laws and complex business practices, and the few organizations with the corporate willpower to master these complexities will inevitably own the political power. On the other hand, movements like the Tea Party more than anything else reflect a widespread longing for simpler times and simple solutions - just throw the U.S. Constitution at the whole mess and everything will be jake. For immigration, build a big fence. Abolish the Federal Reserve, the Department of Commerce, the Department of Education. At times the overt longing for simple answers that you get from Tea Party leaders is so earnest and touching, it almost makes you forget how insane most of them are. — Matt Taibbi

No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation. — Milton Friedman

sold to the public on false pretenses, high officials confessing to ordering torture in violation of treaty and domestic law, and an economic meltdown even former Federal Reserve Chairman Alan Greenspan acknowledges involved massive fraud - and no one has been prosecuted, no one has gone to prison, and Americans continue to dutifully cast their votes for the Democratic/Republican duopoly responsible for these disasters. — Barry Eisler

The reason most people don't express their individuality and actually deny it, is not fear of what prime ministers think of us or the head of the federal reserve, It's what their families and their friends down at the bar are going to think of them. — David Icke

There's nothing the people love more than a Federal Reserve joke. — Adam McKay

If the federal government is an addict, then the Federal Reserve System is its enabler. — Thomas E. Woods Jr.

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. — Janet Yellen

The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used. — Ben Bernanke

Some people think the Federal Reserve Banks are US government institutions. They are not ... they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will. — Louis Thomas McFadden

There is no entity in the world that controls our lives more than the Federal Reserve System — Harry Reid

More intriguingly, in poll after poll, when Americans are asked what public institutions they most respect, three bodies are always at the top of their list: the Supreme Court, the armed forces, and the Federal Reserve System. All three have one thing in common: they are insulated from the public pressures and operate undemocratically. It would seem that Americans admire these institutions, preciselly because they lead rather than follow. — Fareed Zakaria

Under the federal reserve act, panics are scientifically created. The present panic is the first scientifically created one, worked out as we figured, a mathematical equation. — Charles Lindbergh

The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency. — Henry Cabot Lodge

Fletcher Von Pein was one of the twelve founders of the Omega Agency. He was also a powerful banker and a majority shareholder in the US Federal Reserve which, despite its misleading name, had zero government ownership and was actually a private corporation owned by the global elite. — James Morcan

The Federal Reserve has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment ... the European Central Bank has only the first. It has no commitment to keep employment up. — Noam Chomsky

In a democracy the responsibility for the Government's economic policies, which so affect the economy, normally rests with the elected representative of the people: in our case, with the President and the Congress. If these two follow economic policies inimical to the general welfare, they are accountable to the people for their actions on election day. With Federal Reserve independence, however, a body of men exist who control one of the most powerful levers moving the economy and who are responsible to no one. — Wright Patman

A U.S. dollar is an IOU from the Federal Reserve Bank. It's a promissory note that doesn't actually promise anything. It's not backed by gold or silver. — P. J. O'Rourke

It is not wise for us to permit a few people on the Federal Reserve Board to have life and death power over our economy. My recommendation for reducing some of that power is to repeal legal tender laws and eliminate all taxes on gold, silver and platinum transactions. That way there would be money substitutes and the government money monopoly would be reduced and hence the ability to tax - some people would say steal from - us through inflation. — Walter E. Williams

100 Years Is Enough: Time to Make the Fed a Public Utility — Ziad K. Abdelnour

When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve ... mustered the moral courage to do what was necessary. — Ben Bernanke

The Federal Reserve System is nothing more than legalized counterfeit. — Ron Paul

The Federal Reserve was created after a 1913 meeting in Jekyll Island, Ga that was so secret it wasn't discovered until Orafoura began cleaning out his underwear drawer in 1982. — Jarod Kintz

The politicians looked after the mandarins. The mandarins looked after the central bankers and the regulators. (The governor of the Central Bank was paid more in 2008 than the chairman of the US Federal Reserve, as was the chief executive of the Financial Regulator.) The Central Bankers looked after the bankers. The bankers looked after IBEC. And IBEC looked after the government. The circle of oligarchs was watertight. — Shane Ross

Currently we're suffering from the fear instilled into Americans that another 9/11 is just around the corner. We've also been brainwashed into believing the Federal Reserve just saved us from a total financial collapse in the past seven years even though the Fed was one of the most important causes of the crisis. To deal with the threats of another attack and another financial crisis we are expected to complacently accept endless spending, endless debt, endless bailouts, endless inflation by the Federal Reserve, endless spending by the Congress, and even endless war. — Ron Paul

The Federal Reserve has the responsibility to protect the credit rights of consumers. — Bernie Sanders

The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary. — Ben Bernanke

Actions have consequences. The consequences of wealth confiscation by the Federal-Reserve mechanism are now upon us. — Anonymous

Any money the government spends must be taxed, borrowed or conjured out of thin air by the Federal Reserve, and that will reduce sound private investment. Obama has no real wealth to inject into the economy. He can only move around existing money while inflation robs us of purchasing power. Meanwhile, private investors who might have produced a better engine, battery, computer, cancer treatment or other wealth-creating and life-enhancing innovations hold back for fear that big government will undermine productive efforts. — John Stossel

The greatest threat facing America today
is the disastrous fiscal policies of our own government,
marked by shameless deficit spending and
Federal Reserve currency devaluation.
It is this one-two punch -
Congress spending more than it can tax or borrow,
and the Fed printing money to make up the difference -
that threatens to impoverish us by further
destroying the value of our dollars. — Ron Paul

The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other or have the economy lurching in all directions. This is not a rational system for setting economic policy. It has given us trouble in the past, as the text will establish, and will inevitably in the future. — Wright Patman

Lending dollars to the U.S. government is essentially riskless because the U.S. government can always pay such debts. If necessary, the Federal Reserve can print dollars to pay the debt. — Anat Admati

Of all the weapons in the Federal Reserve arsenal, words were the the most unpredictable in their consequences. — John Kenneth Galbraith

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts. — Ron Paul

Few governmental institutions are more misunderstood and feared out of ignorance than the Federal Reserve Board. — David Baldacci

the Army contracts private carriers to handle the overflow. In the Gulf War, they even had to resort to forcing major airline companies to cough up planes to make ends meet, under a compulsive federal system known as the Civilian Reserve Airfleet Program (my favorite government acronym of all time). — Piers Platt

I know this, the Federal Reserve is private and the I.R.S. is screwing us. — Alex Jones

Von Pein's family was a little known, but highly influential entity within American banking circles. Banking Royalty, some called it. His grandfather had been one of the chief orchestrators of the Federal Reserve Act of 1913, which effectively took ownership of the bank from the American people. — James Morcan

First reason is, it's not authorized in the Constitution, it's an illegal institution. The second reason, it's an immoral institution, because we have delivered to a secretive body the privilege of creating money out of thin air; if you or I did it, we'd be called counterfeiters, so why have we legalized counterfeiting? But the economic reasons are overwhelming: the Federal Reserve is the creature that destroys value. — Ron Paul

Had Volcker never pushed through his radical change in policy, the world would be many bond traders and one memoir the poorer. — Michael Lewis

Intellectually and compassionately explaining the reason freedom works is required for credibility. — Ron Paul

There are a number of institutions globally where the Federal Reserve typically leads the U.S. effort to work with financial regulators from other countries, and we try to, to the extent possible, establish international standards for how - the amount of capital a bank should hold, for example, or how much. — Ben Bernanke

The Open Market Committee, as presently established, is plainly not in the public interest. This committee must be operated by purely public servants, representatives of the people as a whole and not any single interest group. The Open Market Committee should be abolished, and its powers transferred to the Federal Reserve Board - the present public members of the committee, with reasonably short terms of office. — Wright Patman

Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold. — Peter Schiff

To minimize market uncertainty and achieve the maximum effect of its policies, the Federal Reserve is committed to providing the public as much information as possible about the uses of its balance sheet, plans regarding future uses of its balance sheet, and the criteria on which the relevant decisions are based. — Ben Bernanke

The whole financial structure of Wall Street seems to rise or fall on the mere fact that the Federal Reserve Bank raises or lowers the amount of interest. Any business that can't survive a one percent change must be skating on thin ice.
Why even the poor farmer took a raise of another ten percent just to get a loan from the bank, and nobody from the government paid any attention. But you let Wall Street have a nightmare and the whole country has to help to get them back into bed again. — Will Rogers

I like Mitt Romney as a person. I think he's a dignified person. But I have no common ground on economics. He doesn't worry about the Federal Reserve. He doesn't worry about foreign policy. He doesn't talk about civil liberties, so I would have a hard time to expect him to ever invite me to campaign with him. — Ron Paul

Bad as "independence" is, the main fault of the Federal Reserve System - an admirable system if conducted in the public interest - is that too much power and control rests in the hands of people whose private interests are directly affected by the Federal Reserves' actions. — Wright Patman

Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt; it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country. — Murray Rothbard

The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York. — Janet Yellen

Before Volcker's speech, bonds had been conservative investments, into which investors put their savings when they didn't fancy a gamble in the stock market. After Volcker's speech, bonds became objects of speculation, a means of creating wealth rather than merely storing it. — Michael Lewis

The Federal Reserve System is a legal private monopoly of the money supply operated for the benefit of the few under the guise of protecting and promoting the public interest. — Anonymous

The Federal Reserve's objectives of maximum employment and price stability do not, by themselves, ensure a strong pace of economic growth or an improvement in living standards. The most important factor determining living standards is productivity growth, defined as increases in how much can be produced in an hour of work. — Janet Yellen