<blockquote>'What other central banks have been doing must be reversed. I am very sceptical about the extent of the Fed’s actions and the way the Bank of England has carved its own little line in Europe… Even the European Central Bank has somewhat bowed to international pressure with its purchase of covered bonds. We must return to independent and sensible monetary policies, otherwise we will be back to where we are now in 10 years’ time.'
- Angela Merkel, German chancellor, June 2, 2009</blockquote>
Context<blockquote>
'.."financial slavery" that grips the world .. are of high human and personal cost..''..the theorem of the economic impossibility of socialism .. is fully applicable to central banks..''The "Manic-Depressive" Economy .. spirit becomes corrupted..''In Greece alone men’s consciences were troubled by slavery, and right down through the centuries of decadence, when the industrial slave-system ruled everywhere, her philosophers never entirely ceased protesting against what must have seemed an accepted and inevitable wrong.'
- Gilbert Murray (
Voices for liberty in the ancient world)
'I confess that in matters of monetary policy and regulation, I am often in the minority. This does not make me the least bit uncomfortable. The majority opinion is not always right; indeed, my experience as an investor has biased me to conclude that more often than not, the consensus view is the wrong view, even among the most erudite.'
- Dallas Fed president Richard Fisher
(
'Dallas Fed president Richard Fisher blasted too-big-to-fail banks, CEO compensation, bank risk-taking, inadequacies in Dodd–Frank regulation, and unintended consequences of poor legislation in a speech in New York on Monday.' - Mish, (
Prudently Managed Banks Victimized by Taxpayer-Subsidized Too-Big-To-Fail Banks; Seen and Unseen in Dodd-Frank Regulation, June 07, 2011)</blockquote>