A global economy requires a global currency.

The standard of living of the average American has to decline.

When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.

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

A global economy requires a global currency.

The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price stability. I just do not understand central banks wanting a little inflation.

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