“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.”
Paul Volcker
“The whole world is a series of miracles, but we're so used to them we call them ordinary things.”
Hans Christian Andersen
“Society never advances. It recedes as fast on one side as it gains on the other. It undergoes continual changes: it is barbarous, it is civilized, it is rich, it is scientific; but this change is not amelioration. For every thing that is given, something else is taken. Society acquires new arts and loses old instincts.”
Ralph Waldo Emerson
