“Hyperinflation is not going to happen in this country, will never happen… The Fed putting so much money into the system is not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.”

— Timothy Geithner

This Week with George Stephanopoulos, March 29, 2009 http://abcnews.go.com/ThisWeek/Story?id=7200273&page=4

Adopted from Wikiquote. Last update June 3, 2021. History

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Timothy Geithner 5

American central banker and politician 1961

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“So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?”

Murray N. Rothbard (1926–1995) American economist of the Austrian School, libertarian political theorist, and historian

The Case against the Fed.

“There is a big logical jump between acknowledging the destructive nature of hyperinflation and arguing that the lower the rate of inflation, the better.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 7, There is inflation and there is inflation, p. 150

“Government is doing the exact opposite of what really needs to be done. George Bush and Barack Obama have pumped trillions more in counterfeit currency and credit into an economy already deathly ill from such treatment. If it goes on, we stand to suffer hyperinflation (all inflation consists of, no matter what they told you in Economics 101, is government generation of phony money) followed by another, very possibly terminal depression. Before it's over, the country — if not the whole world — will be locked down under brutal military rule, and our species likely will never again know freedom, progress, or prosperity.”

L. Neil Smith (1946) American writer

"The Unnecessary Depression," http://www.ncc-1776.org/tle2009/tle504-20090201-02.html 1 February 2009.

“For all of us who are alive, life is the real issue. Yet so often we judge our existence by the things that happen to us—by whether things are going our way or not. Sometimes we feel strong—strong enough to dictate our future. Sometimes we feel that we can make things happen. Then there are times when we feel totally helpless. But through all the dramas and bumps, there is life. There is the very powerful, very existence of every single human being.”

Prem Rawat (1957) controversial spiritual leader

Toronto, Ontario, Canada May 27, 1994
1990s

“!-- I think everything depends on money. How much money does the administration want to put forth to do this kind of exploration. And I think the amount we're getting now is about what we're going to get in the future. I don't see that changing very much and so I think we'll take that money and use it to build a space station. Then we'll use it to make it a little better and then when money frees up of that amount, then we'll try to decide what we can do with that money then.
I don't think we're going to see a sudden jump in the budget other than inflation. It will keep going with inflation. So I don't see anything for a while. It's going to be an orderly movement and that's okay. That's the way history is. --> History has spurts and then is steady, and then maybe even backing up a step, and then forward again.”

Alan Bean (1932–2018) American astronaut and painter

An Interview with Alan Bean (1992)

“I am in the camp that believes that we are on the verge of a monetary collapse given the fact that during the last year up to 70% of the money used to pay our ongoing expenditures were moneys printed up by the Federal Reserve I mean literally out of thin air. Monetary Collapse occurs when we are printing 100% of that money going forward and all of the roll over of treasury is that 15 trillion dollars is out there in existing notes when all of those notes also get rolled over with 100% of that money being printed … that's the monetary collapse. And that’s not something that their going to announce is going to happen two weeks from Thursday that’s just gonna happen literally overnight when we have a complete melt down in the bond market. Which I’m predicting is gonna happen unless we actually balance the federal budget so this is what we are entering into is a real mutual sacrifice on the part of all of us. I would argue let’s have that mutual sacrifice as opposed to all of us having nothing which is what happens during a monetary collapse that our money ends up being worth nothing. That happened in Russia part of that was Afghanistan. We’re not immune to this. We can fix it but we need to do it now and that’s the position that I hold.”

Gary Johnson (1953) American politician, businessman, and 29th Governor of New Mexico

Statement made to representatives of the Pagan Newswire Collective (PNC)
2011-10-16
http://www.patheos.com/blogs/paganswithdisabilities/2011/10/full-transcript-of-qa-with-presidential-candidate-gary-johnson/
2012-02-24
Economic Policy

“The sentence, 'stopping the printing presses,' is a figurative expression, because it is being done now by creating credit by the Federal Reserve System. But this is government action — all inflation is ultimately the result of activities which government determines and can control. And all inflations have been stopped in the past by the government stopping creating money, or preventing the central bank from creating more money. May I add just one thing? See, all inflations have been stopped by people who created or believed in a very naive form of the Quantity Theory, and acted on that. It may be wrong, but it is the only adequate theory effective to stop an inflation.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

1975 interview https://mises.org/library/hayek-meets-press-1975 on "Meet the Press."
1960s–1970s

“Some people say that we ought to audit the Fed. Here's what I do know. The Federal Reserve already has so many internal audits it's ridiculous. I don't know why people think we're gonna learn this great amount of information by auditing the Federal Reserve. I think a lot of people are calling for this audit of the Federal Reserve because they don't know enough about it. There's no hidden secrets going on in the Federal Reserve to my knowledge.”

Herman Cain (1945) American writer, businessman and activist

The Neal Boortz Show
2010-12-29
Radio, quoted in [Herman Cain: Federal Reserve Audit Unnecessary, 2011-10-10, YouTube, http://www.youtube.com/watch?v=q18jMzTWJ9A]

“I was learning that if I lived slightly in the future-what will happen next-I didn't have to feel so much about what was going on in the present.”

Augusten Burroughs book Running with Scissors

Source: Running with Scissors

“The fact is that middle managers have an effective veto power over whatever risk management system is created. If they don't buy it, it won't happen.”

Adrian Slywotzky (1951) American economist

Adrian J. Slywotzky, ‎Karl Weber (2007) The Upside: The 7 Strategies for Turning Big Threats into Growth Breakthroughs. Crown Business, London. p. 219.

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