“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

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

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

Help us to complete the source, original and additional information

Do you have more details about the quote "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…" by Gary Johnson?

Gary Johnson 34

American politician, businessman, and 29th Governor of New … 1953

Related quotes

“Everything that I did as Governor, and everything that I think needs to occur right now in the Federal Government, needs to be a cost-benefit analysis. What are we spending our money on, and what are we getting for what we're spending? I am of the belief that we are on the verge of a financial collapse. We can not repay fourteen trillion dollars in debt if we're spending one point six trillion dollars more than we're taking in this year and years to come. That is not sustainable… We landed on the moon, we can balance the federal budget. And that means cutting forty-three cents out of every federal dollar that we're currently spending.”

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

Statement from CNN Interview
YouTube
2011-04-21
http://youtu.be/VFf4P20cWmU
2012-02-24
Sound Government

“I am surprised at all the people in the high-tech industry focused on "making money"… If that's all they want to do, they should have a $100 printing press in their basements and they will truly "make money." Instead, if we focus all that energy on innovation, we'll change the world for the best.”

Philippe Kahn (1952) Entrepreneur, camera phone creator

Commencement speech for UCSC students 1996 | UCSC Press Release http://www.ucsc.edu/news_events/press_releases/archive/95-96/06-96/061196-Graduation_ceremoni.html.

“The monetary belief, or the monetary myth, upon which a whole generation has been reared—that an injection of money into the system is the automatic cure for unemployment—has collapsed in the face of the experience of the past four or five years.”

Enoch Powell (1912–1998) British politician

Speech http://hansard.millbanksystems.com/commons/1971/nov/23/unemployment-1#column_1202 in the House of Commons (23 November 1971)
1970s

“Ron Paul: What's happening is, there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out. So the people who get to use the money first which is created by the Federal Reserve system benefit. So the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before. Today, this country is in the middle of a recession for a lot of people… As long as we live beyond our means we are destined to live beneath our means. And we have lived beyond our means because we are financing a foreign policy that is so extravagant and beyond what we can control, as well as the spending here at home. And we're depending on the creation of money out of thin air, which is nothing more than debasement of the currency. It's counterfeit… So, if you want a healthy economy, you have to study monetary theory and figure out why it is that we're suffering. And everybody doesn't suffer equally, or this wouldn't be so bad. It's always the poor people -- those who are on retired incomes -- that suffer the most. But the politicians and those who get to use the money first, like the military industrial complex, they make a lot of money and they benefit from it.
John McCain: Everybody is paying taxes and wealth creates wealth. And the fact is that I would commend to your reading, Ron, "Wealth of Nations," because that's what this is all about. A vibrant economy creates wealth. People pay taxes. Revenues are at an all time high.”

Ron Paul (1935) American politician and physician

GOP debate, Dearborn, Michigan, October 9, 2007 http://www.freep.com/apps/pbcs.dll/article?AID=/20071009/NEWS02/71009073
2000s, 2006-2009

“We printed our own money because we watched Federal dollars come to town, shake a few hands, then leave to buy rainforest lumber and fight wars.”

Paul Glover (1947) Community organizer in Philadelphia, Pennsylvania; American politician

http://www.wholeearth.com/issue/2092/article/33/local.currency.in.each.other.we.trust (Whole Earth Catalog), Spring 1998
Context: “We printed our own money because we watched Federal dollars come to town, shake a few hands, then leave to buy rainforest lumber and fight wars. Ithaca's HOURS, by contrast, stay in our region to help us hire each other. While dollars make us increasingly dependent on transnational corporations and bankers, HOURS reinforce community trading and expand commerce which is more accountable to our concerns for ecology and social justice.”.

“Sometimes I think our central bank will keep printing money till we run out of trees.”

Jim Rogers (1942) American writer

The Downward Spiral http://www.jimrogers.com/content/stories/articles/THE_DOWNWARD_SPIRAL.htm

“The desperate policies of panic-driven governments involve throwing huge amounts of money at the economies collapsed in response to the coronavirus threat. Monetary authorities create money and lend it at extremely low interest rates to the major corporations and especially big banks "to get them through the crisis." Government treasuries borrow vast sums to get the collapsed economy back into what they imagine is "the normal, pre-virus economy."”

Richard D. Wolff (1942) American economist

Capitalism's leaders are rushing into policy failures because of their ideological blinders.
COVID-19 and the Failures of Capitalism (2020)

“The presently existing global financial and monetary system will disintegrate during the near term. The collapse might occur this spring, or summer, or next autumn; it could come next year; it will almost certainly occur during President William Clinton's first term in office; it will occur soon. That collapse into disintegration is inevitable, because it could not be stopped now by anything but the politically improbable decision by leading governments to put the relevant financial and monetary institutions into bankruptcy reorganization.”

Lyndon LaRouche (1922–2019) American political activist and founder of the LaRouche movement

"The Coming Disintegration of Financial Markets" (June 1994) http://spanish.larouchepac.com/static/about-larouche.html.

“We will not take money in taxes from those who work hard and pay it out to those who don't. We are trying to roll back the tide of Socialism. We must get ‘stuck in’ and sort out our problems in our traditional British way instead of asking the Government to intervene every time. Intervening means taking from people who work jolly hard and just manage to live within their means and make a profit, money in extra tax to pay for those who don't.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Speech to Finchley Conservatives ("We are trying to roll back the tide of Socialism") (26 January 1980) https://www.margaretthatcher.org/document/104297
First term as Prime Minister

“Neil Cavuto: Yeah but, you can't, Congressman, we've got a pretty good economy going here, right? We've got productivity soaring. We've got retail sales that are strong. We've got corporate earnings that for, what, the 19th quarter, are up double digit? We've got a market chasing highs, I mean, this isn't happening in a vacuum, right?
Ron Paul: Yeah, that's nice, but when you have to borrow, you know… My personal finances would be very good if I borrowed a million dollars every month. But, someday, the bills will become due. And the bills will come due in this country, and then we'll have to pay for it. We can't afford this war, and we can't afford the entitlement system.
Neil Cavuto: Look, Congressman, did you say this 10 years ago, when the numbers were similarly strong…
Ron Paul: Go back and check.
Neil Cavuto: …and we were still borrowing a good deal then.
Ron Paul: That's right, that means the dollar bubble is much bigger than ever.
Neil Cavuto: So what's gonna happen?
Ron Paul: We've had the NASDAQ bubble collapse already. We have the housing bubble in the middle of a collapse, so the dollar bubble will collapse as well. We have to live within our means. You can't print money out of the blue, and think you can print your money into prosperity.”

Ron Paul (1935) American politician and physician

Your World with Neil Cavuto, FOX News, May 15, 2007 http://www.newshounds.us/2007/05/16/rep_ron_paul_tells_fox_newsrepublicans_the_truth_they_dont_like_hearing_it.php http://www.youtube.com/watch?v=MU2RK0TNbXk
2000s, 2006-2009

Help us to complete the source, original and additional information

Gary Johnson 34

Related quotes

Related topics