Paul Volcker

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.

When I hear complaints about less liquidity, remember there is such a thing as too much liquidity.

The only thing useful banks have invented in 20 years is the ATM.

What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life.