![[Central banks might have to intervene to counter "perverse" or "grossly excessive" speculation. ] By such means, the monetary authorities can attempt to make the market for foreign exchange approximate toward what it would have been if there had been free competitive speculation with correct foresight of future movements. In this case all that the authorities have to do is to anticipate more correctly than private speculators the future course of exchange rates. And in so far as they do so they will make a profit at the expense of the private speculator. (James Meade)](https://cdn.quotesdtb.com/img/quotes_images_webp/46/james-meade-attempt-authorities-446946.webp)
[Central banks might have to intervene to counter "perverse" or "grossly excessive" speculation. ] By such means, the monetary authorities can attempt to make the market for foreign exchange approximate toward what it would have been if there had been free competitive speculation with correct foresight of future movements. In this case all that the authorities have to do is to anticipate more correctly than private speculators the future course of exchange rates. And in so far as they do so they will make a profit at the expense of the private speculator.
James MeadeRelated topics
attempt authorities case central correct course expense far foreign free future intervene market might profit speculation speculator meansRelated quotes
If you're too stupid to understand that a philosophy that favors a federally structured republic, with numerous restraints on the scope and power of government to interfere with individual rights or the free market, is a lot different from an ethnic-nationalist, atheistic, and socialist program of genocide and international aggression, you should use this rule of thumb: If someone isn't advocating the murder of millions of people in gas chambers and a global Reich for the White Man you shouldn't assume he's a Nazi and you should know it's pretty damn evil to call him one.
Jonah Goldberg
There has grown up in the minds of certain groups in this country the notion that because a man or corporation has made a profit out of the public for a number of years, the government and the courts are charged with the duty of guaranteeing such profit in the future, even in the face of changing circumstances and contrary public interest. This strange doctrine is not supported by statute nor common law. Neither individuals nor corporations have any right to come into court and ask that the clock of history be stopped, or turned back...
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J.A. Hobson
During thirtyfive years as a foreign correspondent, I must have covered just about everything, from the public life of six Presidents to the private life of a burlesque stripper; from the black market in beef to the Black Panthers; from Estes Kefauver amid the snows of New Hampshire to Jack Nicklaus amid the azaleas of Augusta, Georgia; from Henry Kaiser's Liberty ships to Francis Chichester's Gypsy Moth sailing into Staten Island at one in the morning; from the Marshall Plan to Planned Parenthood; from Senator Joseph McCarthy's last stand to the massacre of Muhammad Ali by Joe Frazier.
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Michael Parenti