When goods are exchanged between countries, they must be paid for by commodities or gold. They cannot be paid for by the notes, certificates, and checks of the purchaser's country, since these are of value only in the country of issue.
More Quotes from Carroll Quigley:
It never occurred to anyone in a responsible position that Germany and Russia might make common cause, even temporarily, against the West.Carroll Quigley
The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was consistently good for bankers, but was often disastrous for governments, businessmen, and the people generally.
Carroll Quigley
On this basis, which was originally financial and goes back to George Peabody, there grew up in the twentieth century a power structure between London and New York which penetrated deeply into university life, the press, and the practice of foreign policy.
Carroll Quigley
The bankers made loans to business so that the volume of money increased faster than the increase in goods. The result was inflation.
Carroll Quigley
More important than the Milner Group's ability to influence opinion in the Dominions was its ability to influence decisions in London.
Carroll Quigley
To this day the Arab influence is evident in southern Italy, northern Africa and, above all, in Spain.
Carroll Quigley
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Based on Topics: Countries Quotes, Gold Quotes, Value QuotesBased on Keywords: certificates, commodities, exchanged, purchasers
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