John Stuart Mill on the hidden tax of inflation

All holders of currency lose, by the depreciation of its value, its exact equivalent of what the issuer gains.  A tax is virtually levied on them for his benefit.

~ John Stuart Mill

Cowen & Co. trader: "I don't see a scenario where we fall off the face of the earth" (2014)

I think that we are setting up currently for a really, really good buying opportunity into a year-end push...  A lot of the negativity has been talked about.  We've seen it all, right?  We know what's going on.  The Fed's not going to screw this up when it comes to interest rates and it comes to really walking away from that.  We've got the ECB onboard as well.  I just don't see a scenario where, over the next let's say 6 to 12 months, we're going to fall off the face of the earth.

~ David Seaburg, head of equity sales trading at Cowen and Co., "Why this selloff is different," Talking Numbers, October 3, 2014