A global economy requires a global currency.

The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the world are a difference in kind as well as degree.

I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence.

I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.

That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.

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.

It was the biggest inflation and the most sustained inflation that the United States had ever had.