Quote of the Day
A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.
At the age of 20 I bought a used Fiat 127. This was the only one I could afford!
Thus, the use of fiat money is more justifiable in financing a depression than in financing a war.
The national debt is totally unlike a family budget for about a gazillion reasons, not the least of which being that families cannot raise money by fiat or deflate the size of their debt unilaterally and that family members die instead of existing infinitely.
My first-ever car, my parents bought me a red Fiat Uno. I was 17 and just so happy to have a car, so I was very fortunate that my parents were in a position to get me one - it was a secondhand car, but I was just so happy to have it.
It is obviously no secret that I earn a lot of money. But it is also no secret that I give most of it away. I don't live a luxurious life. I drive a small second-hand Fiat. I don't have to worry about money, which is itself a privilege. But I never had any anxiety that I would lose my identity.
If I buy a Fiat Uno, I'll read that, for a man like me, a Ferrari was more suitable. If instead I buy a Ferrari, they'll write that I should have kept my feet on the ground and bought a Fiat. If I smile, I'm not serious. If I don't smile, I'm a rich sulker that doesn't enjoy having the most beautiful job in the world.
I mostly drive around in a Fiat 500 TwinAir, and that's a pretty small car!
Our markets have not achieved their great successes as a result of government fiat, but rather through efforts of competing interests working to meet the demands of investors and to fulfill the promises posed by advancing technology.
Our fiat currency is under increasing stress with our large and growing trade deficits. We have a federal deficit that is calculated in the trillions when we take into account the net present value of the future Social Security and Medicaid obligations we are creating today.
I mean, what Fiat had it was not very big, it was something like forty or fifty million dollars, but it's enough to get revolving credit, to get starting away again, the buying of new machinery.
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