The president has very little effect on the economy. If you want to put blame or credit, the main person who influences the business cycle is the head of the Federal Reserve Bank.
We were in all four men with eight animals; for besides the spare horses led by Shaw and myself, an additional mule was driven along with us as a reserve in case of accident.
If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it.
Love is a sacred reserve of energy; it is like the blood of spiritual evolution.
The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world – a lot of them in Russia as you all know I’m sure.
Let not ambition take possession of you; love the friends of the people, but reserve blind submission for the law and enthusiasm for liberty.
The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency.
Reserve your right to think, for even to think wrongly is better than not to think at all.
So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.
There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.