“A paper monetary standard means there are no restraints on the printing press or on federal deficits. In 1971, M3 was $776 billion; today it stands at $8.9 trillion, an 1100% increase. Our national debt in 1971 was $408 billion; today it stands at $6.8 trillion, a 1600% increase. Since that time, our dollar has lost almost 80% of its purchasing power. Common sense tells us that this process is not sustainable and something has to give. So far, no one in Washington seems interested.”

— Ron Paul

Paper Money and Tyranny, September 5, 2003 http://www.house.gov/paul/congrec/congrec2003/cr090503.htm <br class="br">2000s, 2001-2005

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 "A paper monetary standard means there are no restraints on the printing press or on federal deficits. In 1971, M3 was $…" by Ron Paul?

Ron Paul148

American politician and physician 1935

Related quotes

“I am going to make a prediction. The major opponents of our legislation to cancel $1.6 trillion in student debt—mark my words—will be the exact same people who said we had to bail out Wall Street to the tune of billions upon billions of dollars.”

Bernie Sanders (1941) American politician, senator for Vermont

Twitter Post https://twitter.com/SenSanders, (24 June 2019) <br class="br">2010s, 2019, June 2019

“You go back and you say, hey, guess what, the economy just crashed, I'm going to give you back half. I like debt for me, I don't like debt for the country. I like debt for my company, but I don't like debt for the country. For the country we have $19 trillion in debt, it's going to be very soon $21 trillion, not billion, $21 trillion in debt. And I will tell you we are sitting on a time bomb and Hillary Clinton doesn't have a clue. And President Obama has pretty much doubled the debt since he's been in office and somebody's going to pay a big price. We have to start chopping that debt down. … I wouldn't renegotiate the debt.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, June <br class="br">Source: In an interview with CBS This Morning Norah O'Donnell http://www.dailywire.com/news/6824/trump-yeah-so-ill-declare-america-bankrupt-james-barrett (June 22, 2016)

“First we've got population. Now, the world today has 6.8 billion people. That's headed up to about nine billion. Now, if we do a really great job on new vaccines, health care, reproductive health services, we could lower that (forecast) by, perhaps, 10 or 15 percent, but there we see an increase of about 1.3”

Bill Gates (1955) American business magnate and philanthropist

per year
TED, February 2010

“We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

Weekly Compilation of Presidential Documents, 1982
1980s, First term of office (1981–1985)

“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

“Yet it seems extraordinary that the justice of increasing the expectations of the better placed by a billion dollars, say, should turn on whether the prospects of the least favored increase or decrease by a penny.”

John Rawls book A Theory of Justice

Source: A Theory of Justice (1971; 1975; 1999), Chapter III, Section 26, pg. 157

“Bob: Today the Vatican is a tremendous political and religious power. It has one billion citizens, and it controls the wealth of the world.”

Jack T. Chick (1924–2016) Christian comics writer

Chick tracts, " Holocaust http://www.chick.com/reading/tracts/0054/0054_01.asp" (1984)

“I now say that the world has the technology – either available or well advanced in the research pipeline – to feed on a sustainable basis a population of 10 billion people. The more pertinent question today is whether farmers and ranchers will be permitted to use this new technology? While the affluent nations can certainly afford to adopt ultra low-risk positions, and pay more for food produced by the so-called “organic” methods, the one billion chronically undernourished people of the low income, food-deficit nations cannot.”

Norman Borlaug (1914–2009) American biologist

30th Anniversary Lecture, The Norwegian Nobel Institute, Oslo, September 8, 2000; Quoted in: Ronald Bailey (2002) Global warming and other eco-myths. p. 59

“I never said it. Honest. Oh, I said there are maybe 100 billion galaxies and 10 billion trillion stars. It's hard to talk about the Cosmos without using big numbers. I said 'billion' many times on the Cosmos television series, which was seen by a great many people. But I never said 'billions and billions.' For one thing, it's imprecise. How many billions are 'billions and billions'? A few billion? Twenty billion? A hundred billion? 'Billions and billions' is pretty vague… For a while, out of childish pique, I wouldn't utter the phrase, even when asked to. But I've gotten over that. So, for the record, here it goes: 'Billions and billions.”

Carl Sagan (1934–1996) American astrophysicist, cosmologist, author and science educator

List of misquotations
Billions and Billions: Thoughts on Life and Death at the Brink of the Millenium (1997)

“Consider our development aid record. Last year, the nations of the world spent over $1 trillion on armaments. But we contributed less than 10 per cent of that amount — a mere $80 billion — as official development assistance to the developing parts of the world, where 850 million people suffer from hunger.”

Mohamed ElBaradei (1942) Egyptian law scholar and diplomat, former Director General of the International Atomic Energy Agency, and Nobel …

Nobel lecture (2005)

Help us to complete the source, original and additional information

Ron Paul148

Related quotes

Related topics