Top 3 Felix Martin Quotes (2024 Update)

Felix Martin Quote: “Seek as they might, not a single researcher was able to find a society, historical or contemporary, that regularly conducted its trade by barter.”

1. “Seek as they might, not a single researcher was able to find a society, historical or contemporary, that regularly conducted its trade by barter.”

— Felix Martin

Felix Martin Quote: “The monetary standard had always been flexible: indeed, that was precisely what the perennial struggle between the sovereign and his mercantile subjects had always been about. The value of money depended not on the stuff that the coinage was made of but on the creditworthiness and authority of the sovereign who stood behind the tariff that specified the nominal value of the coin.”

2. “The monetary standard had always been flexible: indeed, that was precisely what the perennial struggle between the sovereign and his mercantile subjects had always been about. The value of money depended not on the stuff that the coinage was made of but on the creditworthiness and authority of the sovereign who stood behind the tariff that specified the nominal value of the coin.”

— Felix Martin

Felix Martin Quote: “An IOU which remains for ever a contract between just two parties is nothing more than a loan. It is credit, but it is not money. It is when that IOU can be passed on to a third party – when it is able to be “negotiated” or “endorsed,” in the financial jargon – that credit comes to life and starts to serve as money. Money, in other words, is not just credit – but transferable credit.”

3. “An IOU which remains for ever a contract between just two parties is nothing more than a loan. It is credit, but it is not money. It is when that IOU can be passed on to a third party – when it is able to be “negotiated” or “endorsed,” in the financial jargon – that credit comes to life and starts to serve as money. Money, in other words, is not just credit – but transferable credit.”

— Felix Martin

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