Jeffrey Sachs Money Quotations

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.

We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy.

A lot of the old apparatchiks came back in, and corruption really dramatically increased in '94/'95, particularly around Yeltsin's re-election in 1996, when the government used corrupt practices to give money to business, part of which was returned to the campaign coffers, and helped pay for Yeltsin's re-election.

If the whole world went into recession, all the major central banks could cut interest rates and expand the money supply.

If you have billions and billions of dollars coming due in a country in a short period of time, and if a sense of panic develops among your creditors, so that everybody demands the money out all at once, it's almost inevitable that the debtor economy will collapse, because it won't be able to come up with that amount of money in a short period.