|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|  9th Circuit Court | ... we conclude that the [Federal] Reserve Banks are not federal ... but are independent privately owned and locally controlled corporations... without day to day direction from the federal government. | |
| Lord Acton | The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks. | |
| Franklin P. Adams | There are plenty of good five-cent cigars in the country. The trouble is they cost a quarter. What this country needs is a good five-cent nickel. | |
| John Adams | All the perplexities, confusion and distress in America arise not from defects in their Constitution or Confederation, nor from want of honor or virtue, so much as downright ignorance of the nature of coin, credit, and circulation. | |
| John Adams | Nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers, and destroyers press upon them so fast, that there is no resisting afterwards. The nature of the encroachment upon the American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour. The revenue creates pensioners, and the pensioners urge for more revenue. The people grow less steady, spirited, and virtuous, the seekers more numerous and more corrupt, and every day increases the circles of their dependents and expectants, until virtue, integrity, public spirit, simplicity, and frugality, become the objects of ridicule and scorn, and vanity, luxury, foppery, selfishness, meanness, and downright venality swallow up the whole society. | |
| John Adams | The consequences arising from the continual accumulation of public debts in other countries ought to admonish us to be careful to prevent their growth in our own. | |
| Phelps Adams | Capitalism and communism stand at opposite poles. Their essential difference is this: The communist seeing the rich man and his fine home says, “No man should have so much.” The capitalist seeing the same thing says, “All men should have as much.” | |
| Samuel Adams | Governors have no Right to seek and take what they please; by this, instead of being content with the Station assigned them, that of honorable Servants of the Society, they would soon become Absolute Masters, Despots,and Tyrants. Hence, as a private Man has a Right to say what Wages he will give in his private Affairs, so has a Community to determine what they will give and grant of their Substance for the Administration of public Affairs. | |
| Felix Adler | In a country of such recent civilization as ours, whose almost limitless treasures of material wealth invite the risks of capital and the industry of labor, it is but natural that material interests should absorb the attention of the people to a degree elsewhere unknown. | |
| Aeschylus | It is in the character of very few men to honor without envy a friend who has prospered. | |
| Aesop | It is thrifty to prepare today for the wants of tomorrow. | |
| Aesop | Do not count your chickens before they are hatched. | |
| Aesop | Beware lest you lose the substance by grasping at the shadow. | |
| Aesop | Thinking to get at once all the gold the goose could give, he killed it and opened it only to find - nothing. | |
| Gary Allen | By the time the (16th) Amendment had been approved by the states, the Rockefeller Foundation was in full operation...about the same time that Judge Kenesaw Landis was ordering the breakup of the Standard Oil monopoly...John D...not only avoided taxes by creating four great tax-exempt foundations; he used them as repositories for his 'divested' interests...made his assets non-taxable so that they might be passed down through generations without...estate and gift taxes...Each year the Rockefellers can dump up to half their incomes into their pet foundations and deduct the "donations" from their income tax. | |
| Gary Allen | If one understands that Socialism is not a “share the wealth” program but is in reality a method to consolidate and control the wealth, then the seeming paradox of super rich men promoting Socialism becomes no paradox at all. Instead it becomes logical, even the perfect tool of power-seeking megalomaniacs. Communism, or more accurately Socialism, is not a movement of the down-trodden masses but of the economic elite. | |
| Eric Alterman | History is replete with examples of empires mounting impressive military campaigns on the cusp of their impending economic collapse. | |
| Fisher Ames | Liberty has never lasted long in a democracy, nor has it ever ended in anything better than despotism. | |
| Maxwell Anderson | When a government takes over a people’s economic life it becomes absolute, and when it has become absolute it destroys the arts, the minds, the liberties and the meaning of the people it governs. | |
| Major L. L. B. Angas | The modern banking system manufactures “money” out of nothing; and the process is, perhaps, the most, astounding piece of “sleight of hand” that was ever invented. In fact, it was not invented. It merely “grew”. ... Banks in fact are able to create (and cancel) modern “deposit money”, just as much as they were originally able to create, or call in, their own original forms of private notes. They can, in fact, inflate and deflate, i.e., mint, and un-mint the modern “ledger-entry” currency. | |
| Aristotle | The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid avarice. | |
| Larry P. Arnn | Hillsdale [College] forgoes government money in order to spare our students, faculty and administrators the bureaucratic interference that is the price of accepting federal financial support. | |
| William J. Astore | 1. Our military is supposed to be a means to an end: national security. Due to its immense size and colossal budget, has our military not become an end as well as a means?
2. In World War II, Americans could explain “Why We Fight” in part because the government provided a clear and compelling rationale for war. Why are the goals of today’s wars so opaque to most Americans?
3. If our military provides us with our way of “nation building” abroad, won’t countries and peoples be more likely to copy our military ways and weaponry than our democratic teachings?
4. America is facing painful budgetary belt tightening. Why is the military immune?
5. Why does “support our troops” seemingly end when they leave the service, leading us to tolerate such inequities as an unemployment rate of 21% for young veterans? | |
| Walter Bagehot | The cardinal maxim is, that any aid to a present bad Bank is the surest mode of preventing the establishment of a future good Bank. | |
| George Bancroft | Madison, agreeing with the journal of the convention, records that the grant of power to emit bills of credit was refused by a majority of more than four to one. The evidence is perfect; no power to emit paper money was granted to the legislature of the United States. | |
| Doug Bandow | [E]conomic liberty and creative entrepreneurship are the basis of any solution to today’s social and economic difficulties. Blaming business, setting wages, and attempting to run the economy by decree from Washington only exacerbates the problems. Consider the minimum wage. It seems so simple: Tell business to pay its workers more. But a hike in the minimum wage is essentially a tax, punishing precisely those companies that hire workers with the least skills. | |
| Doug Bandow | [R]eal charity doesn’t mean giving away someone else’s money. | |
| John Barrymore | A man must pay the fiddler. In my case it so happened that a whole symphony orchestra often had to be subsidized. | |
| Bruce Bartlett | Democrats will play the old Washington game of calling reductions in the rate of growth of spending for any program a 'cut'. | |
| Bernard Baruch | Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England....At the time of the Banks action I warned of its consequences....I felt that sooner or later the market had to break. | |
| Frederic Bastiat | But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime. | |
| Frederic Bastiat | When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it. | |
| Frederic Bastiat | The war against illegal plunder has been fought since the beginning of the world. But how is... legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime. Then abolish this law without delay ... If such a law is not abolished immediately it will spread, multiply and develop into a system. | |
| Frederic Bastiat | Men naturally rebel against the injustice of which they are victims. Thus, when plunder is organized by law for the profit of those who make the law, all the plundered classes try somehow to enter -- by peaceful or revolutionary means -- into the making of laws. According to their degree of enlightenment, these plundered classes may propose one of two entirely different purposes when they attempt to attain political power: Either they may wish to stop lawful plunder, or they may wish to share in it. | |
| Frederic Bastiat | It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder. | |
| Frederic Bastiat | The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else. | |
| Frederic Bastiat | By virtue of exchange, one man's prosperity is beneficial to all others. | |
| Frederic Bastiat | No legal plunder: This is the principle of justice, peace, order, stability, harmony, and logic.
Until the day of my death, I shall proclaim this principle
with all the force of my lungs (which alas! is all too inadequate). | |
| Frederic Bastiat | Thus, if there exists a law which sanctions slavery or monopoly, oppression or robbery, in any form whatever, it must not even be mentioned. For how can it be mentioned without damaging the respect which it inspires? Still further, morality and political economy must be taught from the point of view of this law; from the supposition that it must be a just law merely because it is a law.
Another effect of this tragic perversion of the law is that it gives an exaggerated importance to political passions and conflicts, and to politics in general. | |
| William Beach | Those who support the death tax generally do so not for economic reasons but for political ones. They want to make the tax code 'fair' by taxing away the lifetime wealth of others. | |
| James Bilbray | Our U.S. government each year spends roughly 30 percent more money than it takes in. It took 39 Presidents and 200 years to accumulate a debt of $1 trillion dollars. But it has taken only the past 12 years for that debt to triple to more than $5.9 trillion. Interest payments on the deficit alone add up to more than what our government pays for unemployment compensation, veteran's benefits, postal operations, housing, education, and highways combined. Saddled with this tremendous burden, it is impossible for our businesses to invest, harder for families to afford homes and medical care, and difficult for the United States to play its role in matters of national and international economic security. | |
| H. L. Birum, Sr. | The Federal Reserve Bank is nothing but a banking fraud and an unlawful crime against civilization. Why? Because they "create" the money made out of nothing, and our Uncle Sap Government issues their "Federal Reserve Notes" and stamps our Government approval with NO obligation whatever from these Federal Reserve Banks, Individual Banks or National Banks, etc. | |
| Dr. Walter Block | Protectionism is a misnomer. The only people protected by tariffs, quotas and trade restrictions are those engaged in uneconomic and wasteful activity. Free trade is the only philosophy compatible with international peace and prosperity. | |
| Walter Block | Protectionism is a misnomer. The only people protected by tariffs, quotas and trade restrictions are those engaged in uneconomic and wasteful activity. Free trade is the only philosophy compatible with international peace and prosperity. | |
| Samuel L. Blumenfeld | What is so mind boggling is that all of this is being financed by the American people themselves through their own taxes. In other words, the American people are underwriting the destruction of their own freedom and way of life by lavishly financing through federal and state grants the very social scientists who are undermining our national sovereignty and preparing our children to become the dumbed-down vassals of the new world order. | |
| David Boaz | American [public] schools are failing because they are organized according to a bureaucratic, monopolistic model; their organizing principle is basically the same as that of a socialist economy. | |
| William Boetcker | You cannot bring about prosperity by discouraging thrift.\\
You cannot help small men by tearing down big men.\\
You cannot strengthen the weak by weakening the strong.\\
You cannot lift the wage-earner by pulling down the wage-payer.\\
You cannot help the poor man by destroying the rich.\\
You cannot keep out of trouble by spending more than your income.\\
You cannot further the brotherhood of man by inciting class hatred.\\
You cannot establish security on borrowed money.\\
You cannot build character and courage by taking away men's initiative and independence.\\
You cannot help men permanently by doing for them what they could and should do for themselves. | |
| Napoleon Bonaparte | When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain. | |
| Napoleon Bonaparte | When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain. | |
| Bill Bonner | The entire world economy rests on the consumer; if he ever stops spending money he doesn't have on things he doesn't need -- we're done for. | |
| Neal Boortz | Why is it when times get rough only the people have to look for ways to cut back?
Why is this always just absolutely impossible for government? | |
| Boston Federal Reserve Bank | When you or I write a check there must be sufficient funds in our account to cover that check, but when the Federal Reserve writes a check, it is creating money. | |
| Kenneth Boulding | Anyone who believes in indefinite growth in anything physical, on a physically finite planet, is either mad or an economist. | |
| Charles A. Bowsher | This [audit] was made extremely difficult because [IRS] existing Systems were not designed to provide reliable financial information... on their operations. | |
| Keith Bradsher | In a small Swiss city sits an international organization so obscure and secretive....Control of the institution, the Bank for International Settlements, lies with some of the world's most powerful and least visible men: the heads of 32 central banks, officials able to shift billions of dollars and alter the course of economies at the stroke of a pen. | |
| Nathaniel Branden | A depression is a large-scale decline in production and trade... there is nothing in the nature of a free-market economy to cause such an event. | |
| Reuven Brenner | Historians and economists are very good at creating and perpetuating myths that justify increasing the power placed in the hands of government. | |
| Yaron Brook | But while capitalism may be a convenient scapegoat, it did not cause any of these problems. Indeed, whatever one wishes to call the unruly mixture of freedom and government controls that made up our economic and political system during the last three decades, one cannot call it capitalism. | |
| Harry Browne | We should never define libertarian positions in terms coined by liberals and conservatives, nor as some variant of their positions. We are not fiscally conservative and socially liberal. We are libertarians, who believe in individual liberty and personal responsibility on all issues at all times. | |
| Harry Browne | The income tax is the biggest single intrusion suffered by the American people. It forces every worker to be a bookkeeper, to open
his records to the government, to explain his expenses, to fear conviction for a harmless accounting error. Compliance wastes billions of dollars. It
penalizes savings and creates an enormous drag on the U.S. economy. It is incompatible with a free society, and we aren’t libertarians if we
tolerate it. | |
| William Jennings Bryan | Money power denounces, as public enemies, all who question its methods or throw light upon its crimes. | |
| Patrick J. Buchanan | We are thus in the position of having to borrow from Europe to defend Europe, of having to borrow from China and Japan to defend Chinese and Japanese access to Gulf oil, and of having to borrow from Arab emirs, sultans and monarchs to make Iraq safe for democracy. We borrow from the nations we defend so that we may continue to defend them. To question this is an unpardonable heresy called 'isolationism.' | |
| Justice Warren E. Burger | Concepts of justice must have hands and feet or they remain sterile abstractions. The hands and feet we need are efficient means and methods to carry out justice in every case in the shortest possible time and at the lowest possible cost. | |
| Edmund Burke | The age of chivalry is gone. That of sophisters, economists and calculators has succeeded. | |
| Stephen T. Byington | No legal tender law is ever needed to make men take good money; its only use is to make them take bad money. | |
| Mortimer Caplin | Our tax system is based on individual self-assessment and voluntary compliance. | |
| Thomas Carlyle | Democracy is, by the nature of it, a self-canceling buisness: and gives in the long run a net result of zero. | |
| Timothy P. Carney | As the federal government has progressively become larger over the decades, every significant introduction of government regulation, taxation and spending has been to the benefit of some big business. | |
| Douglas Casey | Foreign aid might be defined as a transfer from poor people in rich countries to rich people in poor countries. | |
| Domingo Cavallo | Each peso [or dollar] is a contract between the government and the peso holder. That contract guarantees that each peso -- as a unit of value that the holder has worked hard to get -- will be worth as much tomorrow as today. If the government breaks the contract, it's breaking the law. The only role of government in the economy should be to guarantee the integrity of market transactions. | |
| W. H. Chamberlin | One of the most insidious consequences of the present burden of personal income tax is that it strips many middle class families of financial reserves & seems to lend support to campaigns for socialized medicine, socialized housing, socialized food, socialized every thing. The personal income tax has made the individual vastly more dependent on the State & more avid for state hand-outs. It has shifted the balance in America from an individual-centered to a State-centered economic & social system. | |
| Gabrielle Chanel | Money for me has only one sound: liberty. | |
| Justice Salmon Chase | The legal tender quality [of money] is only valuable for the purposes of dishonesty. | |
| Stuart Chase | For those who believe, no proof is necessary. For those who don’t believe, no proof is possible. | |
| Gilbert Keith Chesterton | It was the mystical dogma of Bentham and Adam Smith and the rest, that some of the worst of human passions would turn out to be all for the best. It was the mysterious doctrine that selfishness would do the work of unselfishness. | |
| Gilbert Keith Chesterton | Any one of the strange laws we suffer is a compromise between a fad and a vested interest. | |
| Joseph H. Choate | The Act of Congress which we are impugning before you is communistic in its purposes and tendencies, and is defended here upon principles as communistic, socialistic - what shall I call them - populistic as ever have been
addressed to any political assembly in the world. | |
| Sir Winston Churchill | You don't make the poor richer by making the rich poorer. | |
| Sir Winston Churchill | Some people regard private enterprise as a predatory tiger to be shot. Others look on it as a cow they can milk. Not enough people see it as a healthy horse, pulling a sturdy wagon. | |
| Winston Churchill | In finance, everything that is agreeable is unsound. | |
| Marcus Tullius Cicero | The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance. | |
| Marcus Tullius Cicero | Endless money forms the sinews of war. | |
| Marcus Tullius Cicero | The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. | |
| William Colby | The Latin American drug cartels have stretched their tentacles much deeper into our lives than most people believe. It’s possible they are calling the shots at all levels of government. | |
| Confucius | He who will not economize will have to agonize. | |
| Calvin Coolidge | When more and more people are thrown out of work, unemployment results. | |
| Calvin Coolidge | Nothing is easier than spending public money. It does not appear to belong to anybody. The temptation is overwhelming to bestow it on somebody. | |
| Calvin Coolidge | Government price-fixing once started, has alike no justice and no end. It is an economic folly from which this country has every right to be spared. | |
| Edward H. Crane | The Great Depression was not caused by laissez faire but by the actions of well-intended politicians and bureaucrats. The Federal Reserve System, after all, was not created in response to the Great Depression, but in 1913. Soon thereafter it began experimenting with its awesome powers, expanding the money supply during the roaring ‘20s, propping up the pound sterling in London, extending credit so Europeans could buy American agricultural products. All the while, Congress was becoming more and more protectionist. When the Fed reversed policies in 1929 and actually shrunk the money supply by a third over the next three years and Congress culminated its protectionist tendencies with the Smoot-Hawley tariff, the collapse was underway. The fact that Hoover then raised taxes and Roosevelt kept wages artificially high guaranteed the massive unemployment that marked the 1930s. Government caused and exacerbated the Great Depression. | |
| Davy Crockett | We must not permit our respect for the dead or our sympathy for the living to lead us into an act of injustice to the balance of the living. I will not attempt to prove that Congress has no power to appropriate this money as an act of charity. Every member upon this floor knows it. We have the right as individuals to give away as much of our own money as we please in charity; but as members of congress we have no right to appropriate a dollar of the public money. | |
| Curtis Dall | ...it was the calculated 'shearing' of the public by the World-Money powers triggered by the planned sudden shortage of call money in the New York Market. | |
| John C. Danforth | I have never seen more senators express discontent with their jobs. ... I think the major cause is that, deep down in our hearts, we have been accomplices to doing something terrible and unforgivable to this wonderful country. Deep down in our hearts, we know that we have bankrupted America and that we have given our children a legacy of bankruptcy. ... We have defrauded our country to get ourselves elected. | |
| William Richardson Davie | So low and hopeless are the finances of the United States, that, the year before last Congress was obliged to borrow money even, to pay the interest of the principal which we had borrowed before. This wretched resource of turning interest into principal, is the most humiliating and disgraceful measure that a nation could take, and approximates with rapidity to absolute ruin: Yet it is the inevitable and certain consequence of such a system as the existing Confederation. | |
| Remy de Gourmont | Money is the sign of liberty. To curse money is to curse liberty -- to curse life, which is nothing, if it be not free. | |
| Perry de Havilland | A large number of people, certainly the majority of the political looter class, think the best way to deal with the rapidly deepening economic crisis is via 'stimulus packages' with money plucked off the magic money tree... which is to say, by trying to re-inflate the credit bubble that actually caused the crisis. This is a bit like treating alcoholics by urging them to buy more whiskey. | |
| Charles de Montesquieu | Republics end through luxury; monarchies through poverty.
[Fr., Les republiques finissent par le luxe; les monarchies, par la pauvrete.] | |
| Alexis de Tocqueville | The American Republic will endure, until politicians realize they can bribe the people with their own money. | |
| William DeFoe | Some of the same people who laugh at gypsy fortune tellers take economists seriously. | |
| Lawrence Dennis | It comes as news to most people to learn that practically all important ethical teachers -- Moses, Aristotle, Jesus, Mohammed, and Saint Thomas Aquinas, for instance -- have denounced lending at interest as usury and as morally wrong. | |
| Patrick Detches | In 1983 $21 billion was spent in agricultural subsidies—almost equal to the net income of all American farmers. | |
| Bo Diddley | Don't let your mouth write no check that your tail can't cash. | |
| Thomas DiLorenzo | It is no coincidence that some of America’s most lethargic industries—steel, footwear, rubber, textiles—are also among the most heavily protected. | |
| Everett Dirksen | A billion here, a billion there, sooner or later it adds up to real money. | |
| Benjamin Disraeli | There are three kinds of lies: Lies, Damn Lies, and Statistics. | |
| Justice William O. Douglas | We recognize the force of the argument that the effects of war under modern conditions may be felt in the economy for years and years, and that if the war power can be used in days of peace to treat all the wounds which war inflicts on our society, it may not only swallow up all other powers of Congress but largely obliterate the Ninth and the Tenth Amendments as well. | |
| Frederick Douglass | The non-producers now receive the larger share of what those who labor produce. The result is natural. Discontent culminates in exactly the same ratio that intelligence sustains aspiration. | |
| Frederick Douglass | I have no sympathy for the narrow, selfish notion of economy which assumes that every crumb of bread which goes into the mouth of one class is so much taken from the mouths of another class. | |
| W. E. B. Du Bois | It is the growing custom to narrow control, concentrate power, disregard and disfranchise the public; and assuming that certain powers by divine right of money-raising or by sheer assumption, have the power to do as they think best without consulting the wisdom of mankind. | |
| Will Durant | If our economy of freedom fails to distribute wealth as ably as it has created it, the road to dictatorship will be open to any man who can persuasively promise security to all. | |
| Will Durant | Forced to choose, the poor, like the rich, love money more than political liberty; and the only political freedom capable of enduring is one that is so pruned as to keep the rich from denuding the poor by ability or subtlety and the poor from robbing the rich by violence or votes. | |
| Marriner Stoddard Eccles | That is what our money system is. If there were no debts in our money system, there wouldn't be any money. | |
| Ottmar Edenhofer | One has to free oneself from the illusion that international climate policy is environmental policy. This has almost nothing to do with the environmental policy anymore, with problems such as deforestation or the ozone hole. We redistribute de facto the world's wealth by climate policy. | |
| Edward Ellison | I say legalize drugs because I want to see less drug abuse, not more. And I say legalize drugs because I want to see the criminals put out of business. | |
| Ralph Waldo Emerson | Money, which represents the prose of life, and which is hardly spoken of in parlors without an apology, is, in its effects and laws, as beautiful as roses. | |
| Sam Ewing | The government deficit is the difference between the amount of money the government spends and the amount it has the nerve to collect. | |
| Federal Reserve Bank of Chicago | The actual process of money creation takes place in commercial banks. As noted earlier, demand liabilities of commercial banks are money. | |
| Federal Reserve Bank of New York | Because of 'fractional' reserve system, banks, as a whole, can expand our money supply several times, by making loans and investments. | |
| Federal Reserve Bank of New York | Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower's IOU. | |
| Federal Reserve Bank of Philadelphia | Without the confidence factor, many believe a paper money system is liable to collapse eventually. | |
| Federal Reserve Bank of St. Louis | The decrease in purchasing power incurred by holders of money due to inflation imparts gains to the issuers of money... | |
| Edwin Feulner | We also need to encourage Americans to become more fiscally responsible themselves. We can do this by redesigning our tax system into an expenditure tax with a single flat rate. ... We have to substantially reduce the size and scope of the federal government, fundamentally increase the role of the states in choosing their own practices, and bring decision-making closer to the people, not to unelected administrators. These steps are crucial to getting our nation on a path of fiscal, political and constitutional responsibility. | |
| Edwin Feulner | The best way to put more money in people's wallets is to leave it there in the first place. | |
| Richard Feynman | There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers. | |
| Justice Stephen J. Field | Here I close my opinion. I could not say less in view of
questions of such gravity that go down to the very foundations of the government. If the
provisions of the Constitution can be set aside by an Act of Congress, where is the course
of usurpation to end? The present assault upon capital is but the beginning. It will be but
the stepping-stone to others, larger and more sweeping, till our political contests will
become a war of the poor against the rich; a war growing in intensity and bitterness. | |
| Irving Fisher | Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess. | |
| Benjamin Franklin | That is simple. In the Colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay no one. | |
| Benjamin Franklin | When you run in debt; you give to another power over your liberty. | |
| Benjamin Franklin | He that goes a borrowing goes a sorrowing. | |
| Benjamin Franklin | When the people find they can vote themselves money, that will herald the end of the republic. | |
| Norm Franz | Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves. | |
| David D. Friedman | Property is a central economic institution of any society, and private property is the central institution of a free society. | |
| Milton Friedman | If you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That's literally true. | |
| Milton Friedman | Underlying most arguments against the free market is a lack of belief in freedom itself. | |
| Milton Friedman | If you put the federal government in charge of the Sahara Desert,
in 5 years there'd be a shortage of sand. | |
| Milton Friedman | [U]nemployment is ... a side effect of the cure for inflation. | |
| Milton Friedman | Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it’s exactly in the kinds of societies that depart from that. So that the record of history is absolutely crystal clear, that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by the free-enterprise system. | |
| Milton Friedman | Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. | |
| Milton Friedman | The key insight of Adam Smith's Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another. | |
| Milton Friedman | The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy. ... Roosevelt's policies were very destructive. Roosevelt's policies made the depression longer and worse than it otherwise would have been. | |
| Milton Friedman | It's a moral problem that the government is making into criminals people, who may be doing something you and I don't approve of, but who are doing something that hurts nobody else. Most of the arrests for drugs are for possession by casual users.
Now here's somebody who wants to smoke a marijuana cigarette. If he's caught, he goes to jail. Now is that moral? Is that proper? I think it's absolutely disgraceful that our government, supposed to be our government, should be in the position of converting people who are not harming others into criminals, of destroying their lives, putting them in jail. That's the issue to me. The economic issue comes in only for explaining why it has those effects. But the economic reasons are not the reasons. | |
| Milton Friedman | [T]he burden of government is not measured by how much it taxes, but by how much it spends. | |
| Milton Friedman | If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies. | |
| Milton Friedman | The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government. | |
| Milton Friedman | With respect to teachers' salaries .... Poor teachers are grossly overpaid and good teachers grossly underpaid. Salary schedules tend to be uniform and determined far more by seniority. | |
| Milton Friedman | I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements. | |
| Milton Friedman | The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy. | |
| Milton Friedman | The power to determine the quantity of money... is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power... Any system which gives so much power and so much discretion to a few men, [so] that mistakes - excusable or not - can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic - this is the key political argument against an independent central bank. | |
| Milton Friedman | Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one. | |
| Milton Friedman | A major source of objection to a free economy is precisely that it ... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself. | |
| Milton Friedman | Spending by government currently amounts to about 45 percent of national income. By that test, government owns 45 percent of the means of production that produce the national income. The U.S. is now 45 percent socialist. | |
| David Frum | Why be thrifty when your old age and health care are provided for, no matter how profligate you act in your youth? Why be prudent when the state insures your bank deposits, replaces your flooded-out house, buys all the wheat you can grow? ... Why be diligent when half of your earnings are taken from you and given to the idle? | |
| Buckminster Fuller | To expose a 4.2 Trillion dollar ripoff of the American people by the stockholders of the 1000 largest corporations over the last one-hundred years will be a tall order of business. | |
| R. Buckminster Fuller | Real wealth can only increase. | |
| John Fund | One Blue Dog Democratic House Member reminded me earlier this month of the saying that 'insanity is doing the same thing over and over again and expecting different results.' He wondered if his fellow Members weren't more in need of advice from psychiatrists than from economists at this point. | |
| Rick Gaber | Always remember the difference between economic power and political power: You can refuse to hire someone's services or buy his products in the private sector and go somewhere else instead. In the public sector, though, if you refuse to accept a politician's or bureaucrat's product or services you go to jail. Ultimately, after all, all regulations are observed and all taxes are paid at gunpoint. I believe those few who can't even see that have been short-sighted sheep, and I suggest they learn how to think conceptually, develop consistency and grasp principles soon. | |
| Rowan Gaither | [The task is to] covertly lower the standard of living, the whole social structure, of America so that we can be merged with all other nations. | |
| John Kenneth Galbraith | The process by which banks create money is so simple that the mind is repelled. | |
| John Kenneth Galbraith | The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. | |
| John Kenneth Galbraith | The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent. | |
| John Kenneth Galbraith | The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state. | |
| John Kenneth Galbraith | The Federal Reserve System is treated by nearly all economists with reverence. On no matter is their instruction of the young in the subtlety and benignity of established institutions more admiring-or, in broad effect, more successful. Corporations are flawed by an instinct for monopoly. Trade unions interfere with the market, urge trade restrictions, resist new technology and thus obstruct progress, and they can fall victim to extortionists and racketeers. The regulatory agencies of the government are notably imperfect instruments of economic guidance. The Federal Reserve System is not totally above criticism. It makes many mistakes but these are always interesting errors of judgment. they are examined not critically but respectfully to discover why men of insight went wrong. That for such error anyone should be sacked or even seriously rebuked is, for economists, nearly unthinkable. This approval goes back to the origins and can be highly negligent of circumstance. The most widely read account of the genesis of the System tells glowingly of its birth in the closing weeks of 1913 when the Federal Reserve Act was passed by Congress and signed by President Wilson. | |
| James A. Garfield | The chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. Grave doubts have been entertained whether Congress is authorized by the Constitution to make any form of paper money legal tender. The present issue of United States notes has been sustained by the necessities of war; but such paper should depend for its value and currency upon its convenience in use and its prompt redemption in coin at the will of the holder, and not upon its compulsory circulation. These notes are not money, but promises to pay money. If the holders demand it, the promise should be kept. | |
| James A. Garfield | The prosperity which now prevails is without parallel in our history. Fruitful seasons have done much to secure it, but they have not done all. The preservation of the public credit and the resumption of specie payments, so successfully attained by the Administration of my predecessors, have enabled our people to secure the blessings which the seasons brought. | |
| James A. Garfield | The chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. Grave doubts have been entertained whether Congress is authorized by the Constitution to make any form of paper money legal tender. The present issue of United States notes has been sustained by the necessities of war; but such paper should depend for its value and currency upon its convenience in use and its prompt redemption in coin at the will of the holder, and not upon its compulsory circulation. These notes are not money, but promises to pay money. If the holders demand it, the promise should be kept. | |
| James A. Garfield | The refunding of the national debt at a lower rate of interest should be accomplished without compelling the withdrawal of the national-bank notes, and thus disturbing the business of the country. | |
| James A. Garfield | By the experience of commercial nations in all ages it has been found that gold and silver afford the only safe foundation for a monetary system. Confusion has recently been created by variations in the relative value of the two metals, but I confidently believe that arrangements can be made between the leading commercial nations which will secure the general use of both metals. Congress should provide that the compulsory coinage of silver now required by law may not disturb our monetary system by driving either metal out of circulation. If possible, such an adjustment should be made that the purchasing power of every coined dollar will be exactly equal to its debt-paying power in all the markets of the world. | |
| The Pennsylvania Gazette | Since the federal constitution has removed all danger of our having a paper tender, our trade is advanced fifty percent. Our monied people can trust their cash abroad, and have brought their coin into circulation. | |
| Kenneth Gerbino | Historically, the United States has been a hard money country. Only [since 1913] has the United States operated on a fiat money system. During this period, paper money has depreciated over 87%. During the preceding 140 year period, the hard currency of the United States had actually maintained its value. Wholesale prices in 1913... were the same as in 1787. | |
| Kenneth Gerbino | It is the paper money created out of thin air that creates the unfair distribution of wealth that is making the middle class fall more behind and the poor more poor. Newly created money and credit in a paper money system benefits those that can access the money first and buy capital goods and real property at one price before the new money circulates and makes all prices go up. Wages also do not keep up with inflation and that creates another squeeze on the middle class. | |
| Senator Carter Glass | Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including merchants, the industries, and the mills of the country? | |
| Barry Goldwater | I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them. It is not to inaugurate new programs, but to cancel old ones that do violence to the Constitution ... or have failed their purpose ... or that impose on the people an unwarranted financial burden. I will not attempt to discover whether legislation is 'needed' before I have first determined whether it is constitutionally permissible. And if I should be attacked for neglecting my constituents' 'interests,' I shall reply that I was informed that their main interest is liberty, and in that cause I am doing the very best I can. | |
| Barry Goldwater | Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside of the control of Congress and manipulates the credit of the United States. | |
| J. Orlin Grabbe | Free lunch strategies have a habit of self-destructing. The Swiss economist Eugene Boehler had the context of such false and unsustainable images in mind when he noted that the 'modern economy is as much a dream factory as Hollywood.' It is based only a small part on real needs, and for the greatest part on fantasy and myth, he claimed. The stock exchange, far from ruling economic life, is at the mercy of tides of collective make-believe. Depressions come about when there is a loss of economic myth - (Eugene Boehler 'Der Mythus in der Wirtschaft,' Industrielle Organization, XXXI, 1962.) | |
| Grace Commission | 100% of what is collected is absorbed solely by interest on the Federal Debt ... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government. | |
| Sen. Phil Gramm | Government is not the generator of economic growth; working people are. | |
| Horace Greeley | While boasting of our noble deeds we're careful to conceal the ugly fact that by an iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery. | |
| Horace Greeley | We have stricken the shackles from 4,000,000 human beings and brought all labourers to a common level, but not so much by the elevation of former slaves as by reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by our iniquitous money system we have manipulated a system of oppression which, though more refined, is no less cruel than the old system of chattel slavery. | |
| Alan Greenspan | As long as we issue fiat currency, I see no alternative to a legal tender law. | |
| Alan Greenspan | An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense -- perhaps more clearly and subtly than many consistent defenders of laissez-faire -- that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other. | |
| Alan Greenspan | Gold still represents the ultimate form of payment in the world. | |
| Alan Greenspan | In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. | |
| Alan Greenspan | We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power. | |
| Alan Greenspan | In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. ... This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. | |
| G. Edward Griffin | Inflation has now been institutionalized at a fairly constant 5% per year. This has been determined to be the optimum level for generating the most revenue without causing public alarm. A 5% devaluation applies, not only to the money earned this year, but to all that is left over from previous years. At the end of the first year, a dollar is worth 95 cents. At the end of the second year, the 95 cents is reduced again by 5%, leaving its worth at 90 cents, and so on. By the time a person has worked 20 years, the government will have confiscated 64% of every dollar he saved over those years. By the time he has worked 45 years, the hidden tax will be 90%. The government will take virtually everything a person saves over a lifetime. | |
| Martin Gross | The wages of the average American worker, after inflation and taxes, have decreased 17% since 1973, the only Western industrial nation to so suffer. | |
| Alexander Hamilton | All communities divide themselves into the few and the many. The first are the rich and the well-born; the other the mass of the people ... turbulent and changing, they seldom judge or determine right. Give therefore to the first class a distinct, permanent share in the Government ... Nothing but a permanent body can check the imprudence of democracy. | |
| Dorcas Hardy | There is no prospect that today's younger workers will receive all the Social Security and Medicare benefits currently promised them. | |
| Ralph M. Hawtrey | Banks lend by creating credit. They create the means of payment out of nothing. | |
| Friedrich August von Hayek | To be controlled in our economic pursuits means to be controlled in everything. | |
| Friedrich August von Hayek | There can be no doubt that besides the regular types of the circulating medium, such as coin, notes and bank deposits, which are generally recognised to be money or currency, and the quantity of which is regulated by some central authority or can at least be imagined to be so regulated, there exist still other forms of media of exchange which occasionally or permanently do the service of money. Now while for certain practical purposes we are accustomed to distinguish these forms of media of exchange from money proper as being mere substitutes for money, it is clear that, other things equal, any increase or decrease of these money substitutes will have exactly the same effects as an increase or decrease of the quantity of money proper, and should therefore, for the purposes of theoretical analysis, be counted as money. | |
| Friedrich August von Hayek | The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not. | |
| Friedrich August von Hayek | With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people. | |
| Friedrich August von Hayek | The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. | |
| Friedrich August von Hayek | To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end. | |
| Friedrich August von Hayek | To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies -- these tasks provide a wide and unquestioned field for state activity. | |
| Friedrich August von Hayek | All political theories assume, of course, that most individuals are very ignorant. Those who plead for liberty differ from the rest in that they include among the ignorant themselves as well as the wisest. | |
| John Hayward | If you really want to compete with Russia and China to prevent the 21st Century from being dominated by a new axis of evil, you must first defeat the Church of Global Warming. As long as that’s the official state religion of the Western world, we haven’t got a prayer. | |
| Henry Hazlitt | The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken as a whole is one of hyperinflation, devaluation and monetary chaos. | |
| Chris Hedges | We now live in a nation where doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the press destroys information, religion destroys morals, and our banks destroy the economy. | |
| Robert Hemphill | Someone has to borrow every dollar we have in circulation, cash or credit. | |
| Robert Hemphill | If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon. | |
| Hazel Henderson | The problem is, of course, that not only is economics bankrupt but it has always been nothing more than politics in disguise ... economics is a form of brain damage. | |
| Patrick Henry | Let Mr. Madison tell me when did liberty ever exist when the sword and the purse were given up from the people? Unless a miracle shall interpose, no nation ever did, nor ever can retain its liberty after the loss of the sword and the purse. | |
| Karl Hess | Big business in America today and for some years has been openly at war with competition and, thus, at war with laissez-faire capitalism. ... The left's attack on corporate capitalism is, when examined, an attack on economic forms possible only in collusion between authoritarian government and bureaucratized, nonentrepreneurial business. It is unfortunate that many New Leftists are so uncritical as to accept this premise as indicating that all forms of capitalism are bad ... | |
| Robert Higgs | It would take little more than $50 billion to raise every poor person above the official poverty line, yet the percentage of the population classified as poor hardly budges, while annual welfare spending amounts to four times that much. Where's the money going? | |
| Adolf Hitler | We are socialists, we are enemies of today’s capitalistic economic system for the exploitation of the economically weak, with its unfair salaries, with its unseemly evaluation of a human being according to wealth and property instead of responsibility and performance, and we are determined to destroy this system under all conditions. | |
| William P. Hoar | A study by Michael Tanner, Stephen Moore, and David Hartman of the Cato Institute has revealed that in 40 states, it pays more for one to be on welfare than to accept a job at $8.00 per hour; in 17 states, welfare pays more than work at $10.00 per hour; and in six states plus the District of Columbia, welfare totals more than working for $12.00 hourly. The study also showed that in 29 states, welfare benefits are worth more than the average secretary's pay; in nine states, such benefits are equal to more than the average starting salary for a teacher; and in six states, welfare pays more than an entry-level position for a computer programmer. When the entire package is computed, welfare amounts to the (pretax) equivalent of a $30,500 wage in Massachusetts, $32,200 in Alaska, and $36,400 in Hawaii. | |
| Billie Holiday | You can be up to your boobies in white satin,
with gardenias in your hair and no sugar cane for miles,
but you can still be working on a plantation. | |
| Justice Oliver Wendell Holmes, Jr. | I have no respect for the passion of equality, which seems to me merely idealizing envy -- I don't disparage envy but I don't accept it as legitimately my master. | |
| Justice Oliver Wendell Holmes, Jr. | One of the eternal conflicts out of which life is made up is that between the effort of every man to get the most he can for his services, and that of society, disguised under the name of capital, to get his services for the least possible return. | |
| Jacob G. Hornberger | The biggest threat to the American people today lies with the United States government. ... [T]he long-term solution is to dismantle, not reform, the iron fist of the welfare state and the controlled economy. This includes the end (not the reform) of the IRS, the DEA, the BATF, the SEC, the FDA, HUD, the departments of HHS, Labor, Agriculture, and energy, and every other agency that takes money from some and gives it to others or interferes with peaceful behavior. | |
| John Hospers | An economy cannot long remain prosperous by government's taxing and spending more, now absorbing national output at a rate equal to the entire income of every American living west of the Mississippi. If this trend continues, America will gradually sink into the status of a Third World nation -- more unemployment, more shackles on production, more poverty. | |
| Jorg Guido Hulsmann | Fiat-money systems tend to make people insatiable in their quest for ever higher monetary returns on their investments, | |
| Jorg Guido Hulsmann | You can imagine, then, how this inflation and debt-based system, over time, will begin to change the culture of a society and its behavior.
We become more materialistic than under a natural monetary system. We can’t just sit on our savings anymore, and we have to watch our investments constantly, and think about revenue constantly, because if it is not earning enough, we are actively getting poorer. | |
| Jorg Guido Hulsmann | In a fiat money society you are more likely to increase your returns by remaining in debt and continuing to chase monetary revenue indefinitely by leveraging more and more funds. | |
| David Hume | Everything in the world is purchased by labor. | |
| Dean Inge | If a multitude is to be subjected to a plan, it must be militarized. If individuals are allowed a free choice, the plan is thrown into confusion. Bureaucracy, under an absolute ruler, or rulers, is necessary. Popular consent can be secured only by rigorous censorship and prohibition of free discussion. Espionage is a necessary part of the system, and a considerable amount of terrorism. Since private expenditure must be controlled, it is wise to keep private incomes near a subsistence level and to dole out any surplus on collective pleasures such as free holidays. We shall not understand totalitarian tyranny unless we realize that it is the result of the planned economy. | |
| Internal Revenue Service Manual | Some techniques can be used only in connection with a full-scale program due to the nature of the tax situation and the need to avoid unnecessary taxpayer reaction. An example would be income tax returns compliance efforts aimed at the non-business taxpayer. | |
| Internal Revenue Service Manual | The purpose of the IRS is to collect the proper amount of tax revenues at the least cost to the public, and in a manner that warrants the highest degree of public confidence in our integrity, efficiency and fairness. To achieve that purpose, we will encourage and achieve the highest possible degree of voluntary compliance in accordance with the tax laws and regulations... | |
| Andrew Jackson | If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations. | |
| Andrew Jackson | You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out. | |
| Andrew Jackson | Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. | |
| Justice Robert H. Jackson | Particularly when the war power is invoked to do things to the liberties of people, or to their property or economy that only indirectly affect conduct of the war and do not relate to the engagement of the war itself, the constitutional basis should be scrutinized with care. ... I would not be willing to hold that war powers may be indefinitely prolonged merely by keeping legally alive a state of war that had in fact ended. I cannot accept the argument that war powers last as long as the effects and consequences of war for if so they are permanent -- as permanent as the war debts. | |
| Thomas Jefferson | But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years. | |
| Thomas Jefferson | To take from one because it is thought that his own industry and
that of his father's has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association -- the guarantee to every one of a free exercise of his industry and the fruits acquired by it. | |
| Thomas Jefferson | The man who never looks into a newspaper is better informed than he who reads them; inasmuch as
he who knows nothing is nearer to the truth than he whose mind is filled with falsehoods and errors | |
| Thomas Jefferson | I am for a government rigorously frugal and simple. Were we directed from Washington when to sow, when to reap, we should soon want bread. | |
| Thomas Jefferson | If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered. | |
| Thomas Jefferson | I consider the foundation of the Constitution as laid on this ground that 'all powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are preserved to the states or to the people.' ... To take a single step beyond the boundaries thus specially drawn around the powers of Congress is to take possession of a boundless field of power, no longer susceptible of any definition. The incorporation of a bank, and the powers assumed by this bill (chartering the first Bank of the United States), have not, been delegated to the United States by the Constitution. | |
| Thomas Jefferson | Fear can only prevail when victims are ignorant of the facts. | |
| Thomas Jefferson | The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens. Funding I consider as limited, rightfully, to a redemption of the debt within the lives of a majority of the generation contracting it; every generation coming equally, by the laws of the Creator of the world, to the free possession of the earth he made for their subsistence, unincumbered by their predecessors, who, like them, were but tenants for life. | |
| Thomas Jefferson | That this privilege of giving or of withholding our monies is an important
barrier against the undue exertion of prerogative, which
if left altogether without control may be exercised to our great oppression;
and all history shews how efficacious is its intercession
for redress of grievances and re-establishment of rights,
and how improvident would be the surrender of so powerful a mediator. | |
| Thomas Jefferson | I think we have more machinery of government than is necessary, too many parasites living on the labor of the industrious. | |
| Thomas Jefferson | A wise and frugal government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicity. | |
| Thomas Jefferson | I place economy among the first and most important virtues and public debt as the greatest dangers to be feared ... We must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty or profusion and servitude ... The same prudence which in private life would forbid our paying money for unexplained projects, forbids it in the disposition of public money. We are endeavoring to reduce the government to the practice of rigid economy to avoid burdening the people ... | |
| Thomas Jefferson | I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. | |
| James Weldon Johnson | Labor is the fabled magician's wand, the philosophers stone, and the cap of good fortune. | |
| Lyndon B. Johnson | You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harm it would cause if improperly administered. | |
| Samuel Johnson | Few enterprises of great labor or hazard would be undertaken if we had not the power of magnifying the advantages we expect from them. | |
| Raymond J. Keating | Monetary policy today is guided by little more than government fiat -- by the calculations, often mistaken economic theories, and whims of central bankers or, even worse, politicians. Under such a regime, inflation of three or four percent annually has come to be viewed as a stellar monetary performance. However, under a more sound monetary system -- i.e., a gold standard -- such increases in the general price level would be seen as wildly inflationary. | |
| Kathy Kelly | The US government devotes massive resources and much sophistication to killing in Afghanistan. Would that it would spend a little to realize that its policies are creating anger. . . . It costs about $1 million a year for a US soldier -- boots on the ground -- in Afghanistan. Imagine what good that money could do if spent to help the Afghan people. A governor in Afghanistan makes about $1,000 a year. | |
| Jack Kemp | Taxes on capital, taxes on labor, inflation, bureaucratic regulation, minimum wage laws, are all - to different degrees - unnecessary slices of the wedge that stand between an individual's effort and reward for that effort. | |
| George F. Kennan | Were the Soviet Union to sink tomorrow under the waters of the ocean, the American military-industrial establishment would have to go on, substantially unchanged, until some other adversary could be invented. Anything else would be an unacceptable shock to the American economy. | |
| John F. Kennedy | Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future. | |
| John F. Kennedy | A tax cut means higher family income and higher business profits and a balanced federal budget.... As the national
income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By
lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance. | |
| John F. Kennedy | The quality of American life must keep pace with the quantity of American goods. This country cannot afford to be materially rich and spiritually poor. | |
| Captain Henry Kerby | That this House considers that the continued issue of all the means of exchange -- be they coin, bank-notes or credit, largely passed on by cheques -- by private firms as an interest-bearing debt against the public should cease forthwith; that the Sovereign power and duty of issuing money in all forms should be returned to the Crown, then to be put into circulation free of all debt and interest obligations... | |
| Peter Kershaw | The Founding Fathers of this great land had no difficulty whatsoever understanding the agenda of bankers, and they frequently referred to them and their kind as, quote, 'friends of paper money.' They hated the Bank of England, in particular, and felt that even were we successful in winning our independence from England and King George, we could never truly be a nation of freemen, unless we had an honest money system. Through ignorance, but moreover, because of apathy, a small, but wealthy, clique of power brokers have robbed us of our Rights and Liberties, and we are being raped of our wealth. We are paying the price for the near-comatose levels of complacency by our parents, and only God knows what might become of our children, should we not work diligently to shake this country from its slumber! Many a nation has lost its freedom at the end of a gun barrel, but here in America, we just decided to hand it over voluntarily. Worse yet, we paid for the tyranny and usurpation out of our own pockets with "voluntary" tax contributions and the use of a debt-laden fiat currency! | |
| John Maynard Keynes | If the Treasury were to fill old bottles with bank-notes, bury them at suitable depths in disused coal-mines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again (the right to do so being obtained, of course, by tendering for leases of the note-bearing territory), there need be no more unemployment and, with the help of repercussions, the real income of the community, and its capital wealth, would probably become a good deal greater than it actually is. | |
| John Maynard Keynes | Those, who are strongly wedded to what I shall call 'the classical theory', will fluctuate, I expect, between a belief that I am quite wrong and a belief that I am saying nothing new. It is for others to determine if either of these or the third alternative is right. | |
| John Maynard Keynes | By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose. | |
| John Maynard Keynes | If, however, a government refrains from regulations and allows matters to take their course, essential commodities soon attain a level of price out of the reach of all but the rich, the worthlessness of the money becomes apparent, and the fraud upon the public can be concealed no longer. | |
| John Maynard Keynes | Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose. | |
| John Maynard Keynes | Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one. | |
| John Maynard Keynes | The avoidance of taxes is the only intellectual pursuit that carries any reward. | |
| John Maynard Keynes | The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth -- he could at the same time and by the same means adventure his wealth in the natural resources and new enterprise of any quarter of the world -- he could secure forthwith, if he wished, cheap and comfortable means of transit to any country or climate without passport or other formality. | |
| Nikita Khrushschev | Your children’s children will live under communism. You Americans are so gullible. No, you won’t accept Communism outright, but we’ll keep feeding you small doses of Socialism until you will finally wake up and find that you already have Communism. We won’t have to fight you; We’ll so weaken your economy, until you fall like overripe fruit into our hands. | |
| Kingfish | All I kin say is when you finds yo'self wanderin' in a peach orchard, ya don't go lookin' for rutabagas. | |
| Paul Kirk | I hate this "crime doesn't pay" stuff. Crime in the U.S. is perhaps one of the biggest businesses in the world today. | |
| Arnold Kling | When government will expropriate any wealth that people create, the present value of future output can actually be less than the value of the country's tangible resources. The power of predatory government to destroy wealth is truly awesome. | |
| Frank H. Knight | Knowledge is more a matter of learning
than of the exercise of absolute judgment.
Learning requires time, and in time the situation dealt with,
as well as the learner, undergoes change. | |
| Charles Koch | Government spending on business only aggravates the problem. Too many business have successfully lobbied for special favors and treatment by seeking mandates for their products, subsidies (in the form of cash payments from the government), and regulations and tariffs to keep more efficient competitors at bay. Crony capitalism is much easier than competing in an open market. But it erodes our overall standard of living and stifles entrepreneurs by rewarding the politically favored rather than those who provide what consumers want. | |
| Charles Koch | Far from trying to rig the system, I have spent decades opposing cronyism and all political favors, including mandates, subsidies and protective tariffs -- even when we benefit from them. I believe that cronyism is nothing more than welfare for the rich and powerful, and should be abolished. | |
| David C. Korten | Thus corporations finally claimed the full rights enjoyed by individual citizens while being exempted from many of the responsibilities and liabilities of citizenship. Furthermore, in being guaranteed the same right to free speech as individual citizens, they achieved, in the words of Paul Hawken, 'precisely what the Bill of Rights was intended to prevent: domination of public thought and discourse.' The subsequent claim by corporations that they have the same right as any individual to influence the government in their own interest pits the individual citizen against the vast financial and communications resources of the corporation and mocks the constitutional intent that all citizens have an equal voice in the political debates surrounding important issues. | |
| Paul Krugman | ...as an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here - that usually you learn a lot more by thinking really hard about the data than you do by sniffing around for supposedly inside information. | |
| Paul Krugman | Heterodox doctrines, in economics and elsewhere, often fail to get adequately discussed in their formative stages: both the intellectual and the political establishment tend to regard them as unworthy of notice. Meanwhile, those doctrines can seem compelling to large numbers of people (some of whom may have considerable political clout, large financial resources, or both). By the time it becomes apparent that such influential ideas demand serious attention after all, reasoned argument has become very difficult. People have become invested emotionally, politically, and financially in the doctrine; careers and even institutions have been built on it; and the proponents can no longer allow themselves to contemplate the possibility that they have taken a wrong turning. | |
| Christine Lagarde | All stakeholders must participate in the gains and losses of any particular situation. | |
| Richard Lamm | Christmas is a time when kids tell Santa what they want and adults pay for it.
Deficits are when adults tell the government what they want and their kids pay for it. | |
| Rose Wilder Lane | Anyone who says that economic security is a human right, has been too much babied. While he babbles, other men are risking and losing their lives to protect him. They are fighting the sea, fighting the land, fighting disease and insects and weather and space and time, for him, while he chatters that all men have a right to security and that some pagan god—Society, The State, The Government, The Commune—must give it to them. Let the fighting men stop fighting this inhuman earth for one hour, and he will learn how much security there is. | |
| Latin Proverb | Suum cuique
[To each his own, to each according to his merits.] | |
| Pierre Lemieux | [R]evenues drive expenditures, not the inverse. ... tax evasion represents a net benefit to everybody ... A statue should be erected to the unknown tax evader. | |
| Vladimir Ilyich Lenin | ...first ascertain exactly the position of the various capitalists, then control them, influence them by restricting or enlarging, facilitating or hindering their credits, and finally they can entirely determine their fate. | |
| Vladimir Ilyich Lenin | ...the concentration of capital and the growth of their turnover is radically challenging the significance of the banks. Scattered capitalists are transformed into a single collective capitalist. When carrying the current accounts of a few capitalists, the banks, as it were, transact a purely technical and exclusively auxiliary operation. When, however, these operations grow to enormous dimensions we find that a handful of monopolists control all the operations, both commercial and industrial, of capitalist society. They can, by means of their banking connections. | |
| Vladimir Ilyich Lenin | The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation. | |
| C. S. Lewis | [Prosperity] knits a man to the world. He thinks he's 'finding his place in it,' while really it is finding its place in him. | |
| C. S. Lewis | It is easy to think the State has a lot of different objects -- military, political, economic, and what not. But in a way things are much simpler than that. The State exists simply to promote and to protect the ordinary happiness of human beings in this life. A husband and wife chatting over a fire, a couple of friends having a game of darts in a pub, a man reading a book in his own room or digging in his own garden -- that is what the State is there for. And unless they are helping to increase and prolong and protect such moments, all the laws, parliaments, armies, courts, police, economics, etc., are simply a waste of time. | |
| C. S. Lewis | [C]lassical political theory, with its Stoical, Christian, and juristic key-conceptions (natural law, the value of the individual, the rights of man), has died. The modern State exists not to protect our rights but to do us good or make us good -- anyway, to do something to us or to make us something. Hence the new name 'leaders' for those who were once 'rulers'. We are less their subjects than their wards, pupils, or domestic animals. There is nothing left of which we can say to them, 'Mind your own business.' | |
| Abraham Lincoln | The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity. The financing of all public enterprise, and the conduct of the treasury will become matters of practical administration. Money will cease to be master and will then become servant of humanity. | |
| Abraham Lincoln | ... the privilege of creating and issuing money... is the government's greatest creative opportunity... [saving] the taxpayers immense sums of money... | |
| Charles A. Lindbergh, Sr. | This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the most gigantic trust on earth. When the President signs this bill, the invisible government by the Monetary Power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed. The trusts will soon realize that they have gone too far even for their own good. The people must make a declaration of independence to relieve themselves from the Monetary Power. This they will be able to do by taking control of Congress. Wall Streeters could not cheat us if you Senators and Representatives did not make a humbug of Congress... The greatest crime of Congress is its currency system. The worst legislative crime of the ages is perpetrated by this banking bill. The caucus and the party bosses have again operated and prevented the people from getting the benefit of their own government. | |
| Charles A. Lindbergh, Sr. | When the President signs this act [Federal Reserve Act of 1913], the invisible government by the money power -- proven to exist by the Monetary Trust Investigation -- will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created. | |
| Charles A. Lindbergh, Sr. | This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the most gigantic trust on earth. When the President (Woodrow Wilson) signs the Bill, the invisible government of the Monetary Power will be legalised... The worst legislative crime of the ages is perpetrated by this banking and currency Bill. | |
| Charles A. Lindbergh, Sr. | The new law will create inflation whenever the trusts want inflation...they can unload the stocks on the people at high prices during the excitement and then bring on a panic and buy them back at low prices...the day of reckoning is only a few years removed. | |
| Walter Lippmann | It is perfectly true that the government is best which governs least. It is equally true that the government is best which provides most. | |
| Walter Lippmann | It is the very essence of despotism that it can never afford to fail. This is what distinguishes it most vitally from democracy. In a despotism there is no organized opposition which can take over the power when the Administration in office has failed. All the eggs are in one basket. Everything is staked on one coterie of men. When the going is good, they move more quickly and efficiently than democracies, where the opposition has to be persuaded and conciliated. But when they lose, there are no reserves. There are no substitutes on the bench ready to go out on the field and carry the ball. That is why democracies with the habit of party government have outlived all other forms of government in the modern world. They have, as it were, at least two governments always at hand, and when one fails they have the other. They have diversified the risks of mortality, corruption, and stupidity which pervade all human affairs. They have remembered that the most beautifully impressive machine cannot run for very long unless there is available a complete supply of spare parts. | |
| Carolyn Lochhead | Public educators, like Soviet farmers, lack any incentive to produce results, innovate, to be efficient, to make the kinds of difficult changes that private firms operating in a competitive market must make to survive. | |
| Harold Lowman | Politicians say they're beefing up our economy. Most don't know beef from pork. | |
| F. J. Lucas | Within seven centuries, [the ancient Greeks] invented for itself, epic, elegy, lyric, tragedy, novel, democratic government, political and economic science, history, geography, philosophy, physics and biology; and made revolutionary advances in architecture, sculpture, painting, music, oratory, mathematics, astronomy, medicine, anatomy, engineering, law and war... a stupendous feat for whose most brilliant state Attica was the size of Hertfordshire, with a free population (including children) of perhaps 160,000. | |
| Don Luskin | Never — and I mean never — blindly trust the statistics you read [or hear] about the economy. | |
| General Douglas MacArthur | History fails to record a single precedent in which nations subject to moral decay have not passed into political and economic decline. There has been either a spiritual awakening to overcome the moral lapse, or a progressive deterioration leading to ultimate national disaster. | |
| Thomas Babington Macaulay | It has often been found that profuse expenditures, heavy
taxation, absurd commercial restrictions, corrupt tribunals,
disastrous wars, seditions, persecutions, conflagrations,
inundation, have not been able to destroy capital so fast as the
exertions of private citizens have been able to create it. | |
| Tibor Machan | If welfare and equality are to be primary aims of law, some people must necessarily possess a greater power of coercion in order to force redistribution of material goods. Political power alone should be equal among human beings; yet striving for other kinds of equality absolutely requires political inequality. | |
| James Madison | Of all the enemies to public liberty war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes...known instruments for bringing the many under the domination of the few.… No nation could preserve its freedom in the midst of continual warfare. | |
| James Madison | History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance. | |
| James Madison | If Congress can employ money indefinitely to the general welfare, and are the sole and supreme judges of the general welfare, they may take the care of religion into their own hands; they may appoint teachers in every State, county and parish and pay them out of their public treasury; they may take into their own hands the education of children, establishing in like manner schools throughout the Union; they may assume the provision of the poor; they may undertake the regulation of all roads other than post-roads; in short, every thing, from the highest object of state legislation down to the most minute object of police, would be thrown under the power of Congress. ... Were the power of Congress to be established in the latitude contended for, it would subvert the very foundations, and transmute the very nature of the limited Government established by the people of America. | |
| James Madison | But the mild voice of reason, pleading the cause of an enlarged and permanent interest, is but too often drowned, before public bodies as well as individuals, by the clamors of an impatient avidity for immediate and immoderate gain. | |
| James Madison | Do not separate text from historical background. If you do, you will have perverted and subverted the Constitution, which can
only end in a distorted, bastardized form of illegitimate government. | |
| James Madison | There is not a more important and fundamental principle in legislation, than that the ways and means ought always to face the public engagements; that our appropriations should ever go hand in hand with our promises. To say that the United States should be answerable for twenty-five millions of dollars without knowing whether the ways and means can be provided, and without knowing whether those who are to succeed us will think with us on the subject, would be rash and unjustifiable. Sir, in my opinion, it would be hazarding the public faith in a manner contrary to every idea of prudence. | |
| James Madison | The apportionment of taxes on the various descriptions of property is an act which seems to require the most exact impartiality; yet there is, perhaps, no legislative act in which greater opportunity and temptation are given to a predominant party to trample on the rules of justice. Every shilling which they overburden the inferior number is a shilling saved to their own pockets. | |
| James Madison | The mild voice of reason, pleading the cause of an enlarged and permanent interest, is but too often drowned, before public bodies as well as individuals, by the clamors of an impatient avidity for immediate and immoderate gain. | |
| Brian Maher | Only a debt-backed system of paper money could finance the great wars, the social improvements and the fevered dreams of the 20th century. | |
| Charles S. Maier | Fascist intellectuals, such as Ugo Spirito, made the round of conferences preaching the virtues of postcapitalism fascism and in fact tried to nudge the structure in a 'leftist' direction by calling for more collective control and even corporative ownership of the economy. Mussolini looked abroad to find that Franklin Roosevelt was merely seeking to emulate Italy's innovations. | |
| Gary Makovski | If no information or return is filed, [the] Internal Revenue Service cannot assess you. | |
| Marisa Manley | In ancient Babylon, Sumeria, Egypt, China, Greece, and Rome, for instance, price controls promoted not fairness but famine. During the twentieth century, central banks were supposed to help safeguard economies, but they brought on the worst inflations and depressions. Alcohol and drug prohibition, intended to enforce moral behavior, contributed to escalating violence. | |
| Luther Martin | By the power to lay and collect imposts Congress may impose duties on any or every article of commerce imported into these states to what amount they please. By the power to lay excises, a power very odious in its nature, since it authorizes officers to examine into your private concerns, the Congress may impose duties on every article of use or consumption: On the food that we eat, on the liquors we drink, on the clothes that we wear, the glass which enlighten our houses, or the hearths necessary for our warmth and comfort. By the power to lay and collect taxes, they may proceed to direct taxation on every individual either by a capitation tax on their heads or an assessment on their property. By this part of the section, therefore, the government has a power to tax to what amount they choose and thus to sluice the people at every vein as long as they have a drop of blood left. | |
| Karl Marx | Although gold and silver are not by nature money, money is by nature gold and silver. | |
| Karl Marx | Democracy is a form of government that cannot long survive, for as soon as the people learn that they have a voice in the fiscal policies of the government, they will move to vote for themselves all the money in the treasury, and bankrupt the nation. | |
| Karl Marx | 1. Abolition of property in land and application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.
6. Centralization of the means of communication and transport in the hands of the state.
7. Extension of factories and instruments of production owned by the state; the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal obligation of all to work. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.
10. Free education for all children in public schools. Abolition of children's factory labor in its present form. Combination of education with industrial production, etc. | |
| George Mason | When the same man, or set of men, holds the sword and the purse, there is an end of liberty. | |
| George Mason | No free government, or the blessings of liberty, can be preserved to any people, but by a firm adherence to justice, moderation, temperance, frugality and virtue, and by frequent recurrence to fundamental principles. | |
| Chris Matthews | The issue of this campaign -- it IS that word socialism. Some people like it. Younger people like it. Those of us like me, who grew up in a cold war and saw some aspects of it while visiting places like Vietnam, like I have, and seeing countries like Cuba, being there. I’m seeing what socialism’s like. I don’t like it. OK? It’s not only not free. It doesn’t freakin’ work! | |
| William R. Mattox, Jr. | In 1950, the average family of four paid 2% of its earnings to federal taxes. Today it pays 24%. | |
| G. D. McDaniel | If, as it appears, the experiment that was called 'America' is at an end ... then perhaps a fitting epitaph would be ... 'here lies America the greatest nation that might have been had it not been for the Edomite bankers who first stole their money, used their stolen money to buy their politicians and press and lastly deprived them of their constitutional freedom by the most evil device yet created --- The Federal Reserve Banking System.' | |
| Bob McEwen | Now the truth of the matter is, there is nothing wrong with this country. Please. The message I want to leave with you is that there's nothing wrong with this country that the proper leadership won't cure. We've been here before. In 1787, the economy of our nation was in absolute chaos and as a consequence, they met in Philadelphia to form a new country, and when they did, they did the right things, and in the second State of the Union address, which was written at that time by George Washington, he said the foundations, the economic foundations of our nation are on such sound footing that it would have been a madman would have suspected 3 years ago. The fact is that the chaos that they're creating doesn't mean that America can or has to be in decline. It means that we need to remove them as rapidly as possible and get people that know what to do and America will continue to climb. | |
| Bob McEwen | In the 1950’s [America was] the richest nation, the richest city on earth was Detroit. They voted for change and so now it is the poorest city in America. At the same time, the nation of South Korea, of all the nations on earth, was third from the bottom. Virtually the poorest nation on earth. It is now tenth from the top. If you understand the principle, the greater freedom, the greater the wealth, you can then put any nation [on this chart]. Now you can go to Tagusagopos, you can go to Buenos Aires, you can go to Cairo, you can go to Philadelphia and all you need to know is what percentage of the Gross Domestic Product is controlled by government, and the greater the government, the greater the poverty, and that’s all politics is about. Every day politicians say, “I can make a better decision for you than you can for yourself, and let me take your money away from you and make it on your behalf” and thus make the nation poorer. | |
| Bob McEwen | Now the last time the Democrats controlled the House, the Senate and the Presidency for four years, was under Jimmy Carter, and so what happened? Exactly the same. That is, we’re all going to run out of this or that or the other thing. We’re all going to run out, we had gas lines, we’re all going to freeze to death. He had his little sweater on and said you had to wear your sweater to ride your bicycle and turn your thermostat down because America’s coming to an end next Tuesday, a week, and there isn’t anything anybody can do about it. Those folks don’t know how to run anything. So therefore, and the night before the election in which Ronald Reagan went on television and said, “There’s nothing wrong with America that the proper leadership won’t cure.” Now the first thing that they did was to take all of those crazy regulations from the oil industry and throw them in the Potomac, and in 24 hours, in 24 hours gas stations that had been closed night after night, for year after year, when I drove back and forth from Ohio to Washington, I knew I had to have a full tank of gas by 4:00 in the afternoon because there wasn’t a single filling station between Washington and Ohio that was open. When we, when my wife and I drove home in March 1981, she was asleep on the seat and we drove up into Hillsborough, Ohio, and there the lights were on at the filling station where they’d been closed for nearly 3 years, and I woke her up, I said, “See sweetheart? Had we not won the election, this never would have happened.” | |
| Louis McFadden | Some people think the Federal Reserve Banks are US government institutions. They are not... they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will. | |
| Louis McFadden | It was not accidental [the 1929 stock-market “crash”]. It was a carefully contrived occurrence. ... The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all. | |
| Louis McFadden | The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements.... The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States.... The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it. | |
| Louis McFadden | (The Great Depression resulting from the Stock Market crash) was not accidental. It was a carefully contrived occurrence....The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all. | |
| Patrick McGoohan | I am not a number, I am a free man! | |
| Reginald McKenna | Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people. | |
| Reginald McKenna | I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people. | |
| Angela Merkel | We can't constantly explain to our voters that taxpayers have to be on the hook for certain risks, rather than those who make a lot of money taking those risks. | |
| John Stuart Mill | The worth of a state, in the long run, is the worth of the individuals composing it. | |
| Sir Denison Miller | This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world. By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished. | |
| John Mills | As a rule, panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works. | |
| Lord Rees Mogg | Governments lie; bankers lie; even auditors sometimes lie: gold tells the truth. | |
| J. P. Morgan | Capital must protect itself in every way... Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd. | |
| Henry Morgenthau, Jr. | We can hardly expect the nation-state to make itself superfluous, at least not overnight. Rather what we must aim for is really nothing more than caretakers of a bankrupt international machine which will have to be transformed slowly into a new one. The transition will not be dramatic, but a gradual one. People will still cling to national symbols. | |
| Benito Mussolini | State intervention in economic production arises only when private initiative is lacking or insufficient, or when the political interests of the State are involved. This intervention may take the form of control, assistance or direct management. | |
| Benito Mussolini | The Fascist State lays claim to rule in the economic field no less than in others; it makes its action felt throughout the length and breadth of the country by means of its corporate, social, and educational institutions, and all the political, economic, and spiritual forces of the nation, organised in their respective associations, circulate within the State. | |
| Benito Mussolini | Yet if anyone cares to read over the now crumbling minutes giving an account of the meetings at which the Italian Fasci di Combattimento were founded, he will find not a doctrine but a series of pointers… It may be objected that this program implies a return to the guilds (corporazioni). No matter!... I therefore hope this assembly will accept the economic claims advanced by national syndicalism. | |
| Benito Mussolini | Fascism is definitely and absolutely opposed to the doctrines of liberalism, both in the political and economic sphere. | |
| Benito Mussolini | Fascism should rightly be called Corporatism as it is a merge of state and corporate power. | |
| Gustavus Myers | Under the surface, the Rothschilds long had a powerful influence in dictating American financial laws. The law records show that they were powers in the old Bank of the United States [abolished by Andrew Jackson]. | |
| Ralph Nader | Is there a number or mark planned for the hand or forehead in a new cashless society? YES, and I have seen the machines that are now ready to put it into operation. | |
| Mark Nestmann | Gold is still the ultimate store of wealth. It's the world's only true money. And there isn't much of it to go around. All of it ever mined would fit into a small building - a 56 foot cube. The annual world production would fit into a 14 foot cube, roughly the size of an ordinary living room. If each Chinese citizen were to buy just one ounce, it would take up the annual supply for the next 200 years. | |
| Reverend Martin Niemoeller | Ask the first man you meet what he means by defending freedom, and he'll tell you privately he means defending the standard of living. | |
| Robert Nisbet | There are…certain freedoms that are like circuses. Their very existence, so long as they are individual and enjoyed chiefly individually as by spectators, diverts men’s mind from the loss of other, more fundamental, social and economic and political rights. | |
| Albert Jay Nock | There are two methods, or means, and only two, whereby man's needs and desires can be satisfied. One is the production and exchange of wealth; this is the economic means. The other is the uncompensated appropriation of wealth produced by others; this is the political means. | |
| Grover Norquist | The Democratic Party is made up of trial lawyers, labor unions, government employees, big city political machines, the coercive utopians, the radical environmentalists, feminists, and others who want to restructure society with tax dollars and government fiat. | |
| Kevin O'Leary | All businesses require capital, management and labor, and business executives, wanting to grow and maintain profitable enterprises, have a strong incentive to keep costs, including labor, as low as possible. | |
| P. J. O'Rourke | When buying and selling are controlled by
legislation, the first things to be bought and sold
are legislators. | |
| P. J. O'Rourke | When a government controls both the economic power of individuals and the coercive power of the state ... this violates a fundamental rule of happy living: Never let the people with all the money and the people with all the guns be the same people. | |
| Barack Hussein Obama | Of course, there's been a real debate about where to invest and where to cut, and I'm committed to working with members of both parties to cut our deficits and debt. But we can't simply cut our way to prosperity. | |
| Barack Hussein Obama | [P]art of people’s concern is just the sense that around the world the old order isn’t holding and we’re not quite yet to where we need to be in terms of a new order that’s based on a different set of principles, that’s based on a sense of common humanity, that’s based on economies that work for all people. | |
| Barack Hussein Obama | The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents -- number 43 added $4 trillion dollars by his lonesome -- so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic. | |
| Barack Hussein Obama | The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. ... Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. | |
| Alexandria Ocasio-Cortez | We never experienced, really, a time of true economic prosperity in the United States. | |
| George Orwell | Doublethink means the power of holding two contradictory beliefs in one's mind simultaneously, and accepting both of them. | |
| Thomas Paine | Some writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by wickedness; the former promotes our happiness positively by uniting our affections, the latter negatively by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher. Society in every state is a blessing, but government even in its best state is but a necessary evil; in its worst state an intolerable one ... | |
| Star Parker | This leftist political strategy to win office and power relies on something very powerful: the desire to increase the number of Americans who are dependent on getting money that is taken from other citizens.
Sadly, this strategy has worked for half a century! And now it works because Americans who are trapped in this nightmare do not want their government money taken away from them! | |
| C. Northcote Parkinson | Work expands to fill the time available for its completion. | |
| Larry Parks | With the monetary system we have now, the careful saving of a lifetime can be wiped out in an eyeblink. | |
| William Paterson | The bank hath benefit of interest on all moneys which it creates out of nothing. | |
| Wright Patman | I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money. I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with the Congress for sitting idly by and permitting such an idiotic system to continue. | |
| Wright Patman | The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds from the U.S. Treasury...and has created out of nothing a ... debt which the American people are obliged to pay with interest. | |
| Wright Patman | [I]t is absolutely wrong for the Government to issue interest-bearing obligations. It is not only wrong: it is extravagant. It is not only extravagant, it is wasteful. It is absolutely unnecessary. | |
| Dr. Ron Paul | You can't save free markets by socialism, I don't know where this idea ever came from. You save free markets by promoting free markets and sound money and balanced budgets. The whole reason why nobody wants to address the real problem is, we're spending a trillion dollars a year overseas running an empire, and it's coming to an end. This country is bankrupt, and we won't admit it. Eventually though, the dollar will go bust, and we will bring our troops home, and we will live within our means, but we ought to do it sensibly, rather than waiting for the collapse of the dollar, and this is what we're doing, we're on the verge of destroying our dollar. And then, you think we have problems now, problems then will be a lot worse, it'd look like the Weimar Republic, or a third world nation. And a lot of people know that, and they're scared to death, but we don't need to be making the problem worse by just propping up everything with more government programs, more inflation, and more helicopters, it won't work. | |
| Dr. Ron Paul | The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch -- Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference -- that threatens to impoverish us by further destroying the value of our dollars. | |
| Dr. Ron Paul | The obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people. | |
| Dr. Ron Paul | The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people. | |
| Dr. Ron Paul | It's a mistake to think that poor people get the benefit from the welfare system. It's a total fraud. Most welfare go to the rich of this country: the military-industrial complex, the bankers, the foreign dictators, it's totally out of control. [...] This idea that the government has services or goods that they can pass on is a complete farce. Governments have nothing. They can't create anything, they never have. All they can do is steal from one group and give it to another at the destruction of the principles of freedom, and we ought to challenge that concept. | |
| Dr. Ron Paul | Our federal government, which was intended to operate as a very limited constitutional republic, has instead become a virtually socialist leviathan that redistributes trillions of dollars. We can hardly be surprised when countless special interests fight for the money. The only true solution to the campaign money problem is a return to a proper constitutional government that does not control the economy. Big government and big campaign money go hand-in-hand. | |
| Dr. Ron Paul | Welfarism and excessive spending and deficits and socialism divide us, because everybody has to go to Washington. Those who have the biggest clout, those who are the best lobbyists, those who go and they grab. And whether it's the medical industrial complex, or the banking industry, or the military industrial complex, that's who ends up controlling our government... For so long, conservatives and constitutionalists have lost the argument, they lost the moral high ground. Because those who want to give things away, not talking about where they steal it from, but they want to give things and take care of people, they get the moral high ground and they come by as being compassionate. And we who believe in liberty, we lack compassion. But the truth is, there's only one compassionate system known to man, and that is freedom and personal responsibility, then there's enough wealth, and then we will all have personal responsibility to use this compassion that we have, first to take care of our families and friends and neighbors, and there would be so much wealth that we could spread this wealth around the world. | |
| Dr. Ron Paul | Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank. It’s not capitalism when the system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, international management of trade, complex and punishing corporate taxes, privileged government contracts to the military-industrial complex, and a foreign policy controlled by corporate interests and overseas investments. Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism! | |
| Dr. Ron Paul | You don't have a right to the fruits of somebody else's labor. You don't have a right to a house, you don't have a right to a job, you don't have a right to medical care. You have a right to your life, you have your right to your liberty, you have a right to keep what your earn. And that's what produces prosperity. So you want equal justice. And this is not hard for me to argue, because if you really are compassionate and you care about people, the freer the society the more prosperous it is, and more likely that you are going to have medical care... When you turn it over to central economic planning, they're bound to make mistakes. The bureaucrats and the special interests and the Halliburtons are going to make the money. Whether it's war, or Katrina, these noncompetitive contracts, the bureaucrats make a lot of money and you end up with inefficiency. | |
| Dr. Ron Paul | The theory of the IRS is rather repugnant to me because the assumption is made that I, the government, owns 100% of your income and I permit you to keep 5%, 10% or 20%. You're vulnerable, you've sold out. The government can take 80% if they want, which they did at one time. | |
| Gov. Tim Pawlenty | We can't spend more than we have. ... This is no longer a matter of right versus left, liberal versus conservative, we can prove our conclusion on this by basic mathematics. The United States Federal Government from all sources, for all purposes, takes in $2.2 trillion a year. Keep that number in mind. $2.2 trillion a year. We have total unfunded liabilities of $65 trillion, $2.2 trillion in revenue, $65 trillion in total unfunded liabilities. That is more than 30 to 1 leverage. If the United States Federal Government were a bank regulated by itself, they would shut themselves down. We live in a nation where not long ago our United States Secretary of State [Hillary Clinton] was on rhetorical bended knee in communist China pleading with the Chinese to continue to buy our debt, because if they don’t buy our debt and other foreign sovereign wealth funds don’t buy our debt our beloved United States of America can’t pay its bills. The United States of America my friends is not a beggar nation. | |
| Leonard Peikoff | Contrary to the Marxists, the Nazis did not advocate public ownership of the means of production. They did demand that the government oversee and run the nation's economy. The issue of legal ownership, they explained, is secondary; what counts is the issue of control. Private citizens, therefore, may continue to hold titles to property -- so long as the state reserves to itself the unqualified right to regulate the use of their property. | |
| Leonard Peikoff | Contrary to the Marxists, the Nazis did not advocate public ownership of the means of production. They did demand that the government oversee and run the nation’s economy. The issue of legal ownership, they explained, is secondary; what counts is the issue of control. Private citizens, therefore, may continue to hold titles to property—so long as the state reserves to itself the unqualified right to regulate the use of their property. | |
| Shirley Peterson | ... the key question is: can we define 'income' in a fair and reasonably straightforward manner? Unfortunately we have not yet succeeded in doing so. | |
| Roger Pilon | Over the 20th century, the federal government has assumed a vast and unprecedented set of powers. Not only has the exercise of those powers upset the balance between federal and state governments; run roughshod over individuals, families, and firms; and reduced economic opportunity for all; but most of what the federal government does today -- to put the point as plainly and candidly as possible -- is illegitimate because done without explicit constitutional authority. The time has come to start returning power to the states and the people, to relimit federal power in our fundamental law, to restore constitutional government. | |
| Plutarch | The real destroyer of the liberties of the people is he who spreads among them bounties, donations and benefits. | |
| Ezra Pound | Wars in old times were made to get slaves. The modern implement of imposing slavery is debt. | |
| Proverbs | The rich ruleth over the poor, and the borrower is servant to the lender. | |
| Vladimir Putin | Our anti-crisis policy is directed to internal demand support, social security of citizens and creation of new jobs. Like many other countries, we are reducing taxes on production, investing money in the economy. We are optimising state expenses. | |
| Vladimir Putin | We must seek support in the moral values that have ensured the progress of our civilization. Honesty and hard work, responsibility and faith in our strength are bound to bring us success. There should be no place for despondency. The crisis can and must be fought by uniting our intellectual, spiritual and material resources. | |
| Vladimir Putin | I think that the 21st-century economy is an economy of people, not of factories. The intellectual aspect in the global economic development has grown immensely. That’s why we plan to concentrate on creating additional opportunities for our people to realise their potential. | |
| Vladimir Putin | Let us be frank: provoking military-political instability and other regional conflicts is also a convenient way of deflecting people’s attention from mounting social and economic problems. Regrettably, further attempts of this kind cannot be ruled out. | |
| Vladimir Putin | Unfortunately, more and more often we hear that increasing military spending will help solve today’s social and economic problems. The logic here is quite simple. Additional allocations for military needs create new jobs.
For reference:
The growth of military spending:
USA—$529 billion in 2006, $555 billion in 2007, and $583 billion in 2008. Experts expect $606 billion in 2009.
Great Britain—£27 billion in 2006, £31 billion in 2007, £34 billion in 2008, and £35.2 billion planned for 2009.
Germany—€23 billion in 2006, €24 billion in 2007, and €25 billion in 2008.
China—$38 billion in 2006, $44 billion in 2007, $58 billion in 2008, and a 17% increase in 2009 (around $66 billion).
Georgia (according to the Stockholm International Peace Research Institute)—$49 million in 2002, $80 million in 2004, $362 million in 2006, $592 million in 2007, and $1.104 billion in 2008.
At a glance, it seems to be merely a method to fight the crisis and unemployment. Perhaps, in the short run, such a measure may yield some results. But in reality, instead of solving the problem, militarisation pushes it to a deeper level. It draws away from the economy immense financial and material resources, which could have been used much more efficiently elsewhere. | |
| Vladimir Putin | One must not allow oneself to skid down to isolationism and unbridled economic egoism. ... The second possible mistake would be excessive interference into the economic life of the country. And the absolute faith into the all-mightiness of the state. | |
| Vladimir Putin | During the time of the Soviet Union the role of the state in economy was made absolute, which eventually lead to the total non-competitiveness of the economy. That lesson cost us very dearly. I am sure nobody would want history to repeat itself.
We should also be aware that for during the last months, we have been witnessing the washout of the entrepreneurship spirit. That includes the principle of the personal responsibility – of a businessman, an investor or a share-holder – for his or her own decisions. There are no grounds to suggest that by putting the responsibility over to the state, one can achieve better results.
Another thing – handling crisis must not turn into financial populism, into rejecting a responsible macro-economic policy. Unreasonable expansion of the budget deficit, accumulation of the national debt – are as destructive as an adventurous stock market game. | |
| Amilcare Puviani | If a government were trying to squeeze as much money as possible out of a population, what would it do?\\
1. The use of indirect rather than direct taxes, so that the tax is hidden in the price of goods. \\
2. Inflation, by which the state reduces the value of everyone else's currency. \\
3. Borrowing, so as to postpone the necessary taxation. \\
4. Gift and luxury taxes, where the tax accompanies the receipt or purchase of something special, lessening the annoyance of the tax.\\
5. “Temporary” taxes, which somehow never get repealed when the emergency passes.\\
6. Taxes that exploit social conflict, by placing higher taxes on unpopular groups.\\
7. The threat of social collapse or withholding monopoly government services if taxes are reduced.\\
8. Collection of the total tax burden in relatively small increments over time, rather than in a yearly lump sum.\\
9. Taxes whose exact incidence cannot be predicted in advance, thus keeping the taxpayer unaware of just how much he is paying.\\
10. Extraordinary budget complexity to hide the budget process from public understanding.
11. The use of generalized expenditure categories to make it difficult for outsiders to assess the individual components of the budget.\\ | |
| Carroll Quigley | The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. | |
| Carroll Quigley | The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world. | |
| Carroll Quigley | For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century. | |
| Ayn Rand | The secret dread of modern intellectuals, liberals and conservatives alike, the unadmitted terror at the root of their anxiety, which all of their current irrationalities are intended to stave off and to disguise, is the unstated knowledge that Soviet Russia is the full, actual, literal, consistent embodiment of the morality of altruism, that Stalin did not corrupt a noble ideal, that this is the only way altruism has to be or can ever be practiced. If service and self-sacrifice are a moral ideal, and if the "selfishness" of human nature prevents men from leaping into sacrificial furnaces, there is no reason -- no reason that a mystic moralist could name -- why a dictator should not push them in at the point of bayonets -- for their own good, or the good of humanity, or the good of posterity, or the good of the latest bureaucrat's five-year plan. There is no reason that they can name to oppose any atrocity. The value of a man's life? His right to exist? His right to pursue his own happiness? These are concepts that belong to individualism and capitalism -- to the antithesis of the altruist morality. | |
| Ayn Rand | When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the
effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears nor all the guns in the world can transform those
pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper which should have been gold, are a token of
honor—your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there
are men who will not default on that moral principle which is the root of money. | |
| Ayn Rand | Let anyone who believes that a high standard of living is the achievement of labor unions and government controls ask himself the following question: If one had a “time machine” and transported the united labor chieftains of America, plus three million government bureaucrats, back to the tenth century—would they be able to provide the medieval serf with electric light, refrigerators, automobiles, and television sets? | |
| Ayn Rand | Whoever claims the right to redistribute the wealth produced by others is claiming the right to treat human beings as chattel. | |
| Ayn Rand | When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed. | |
| Ayn Rand | It is a policeman’s duty to protect men from criminals -- criminals being those who seize wealth by force. It is a policeman’s duty to retrieve stolen property and return it to its owners. But when robbery becomes the purpose of the law, and the policeman’s duty becomes, not the protection, but the plunder of property -- then it is an outlaw who has to become a policeman. | |
| Ayn Rand | The difference between [socialism and fascism] is superficial and purely formal, but it is significant psychologically: it brings the authoritarian nature of a planned economy crudely into the open. The main characteristic of socialism (and of communism) is public ownership of the means of production, and, therefore, the abolition of private property. The right to property is the right of use and disposal. Under fascism, men retain the semblance or pretense of private property, but the government holds total power over its use and disposal. | |
| Ayn Rand | Let me explain this. There are, fundamentally, only two causes of the progress of the nineteenth century -- the same two causes which you will find at the root of any happy, benevolent, progressive era in human history. One cause is psychological, the other existential -- or: one pertains to man's consciousness, the other to the physical conditions of his existence. The first is reason, the second is freedom. And when I say "freedom," I do not mean poetic sloppiness, such as "freedom from want" or "freedom from fear" or "freedom from the necessity of earning a living." I mean "freedom from compulsion -- freedom from rule by physical force." Which means: political freedom. | |
| Ayn Rand | Make no mistake about it -- and tell it to your Republican friends: capitalism and altruism cannot coexist in the same man or in the same society. Tell it to anyone who attempts to justify capitalism on the ground of the "public good" or the "general welfare" or "service to society" or the benefit it brings to the poor. All these things are true, but they are the by-products, the secondary consequences of capitalism -- not its goal, purpose or moral justification. The moral justification of capitalism is man's right to exist for his own sake, neither sacrificing himself to others nor sacrificing others to himself; it is the recognition that man -- every man -- is an end in himself, not a means to the ends of others, not a sacrificial animal serving anyone's need. | |
| Ayn Rand | Government control of the economy, no matter in whose behalf, has been the source of all the evils in our industrial society -– and the solution is laissez-faire capitalism, i.e., the abolition of any and all forms of intervention in production and trade, the separation of State and Economics, in the same way and for the same reasons as the separation of Church and State. | |
| Ayn Rand | Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments. | |
| Ayn Rand | It was not the tycoons of big business, it was not the working classes, it was the intellectuals who reversed the trend toward political freedom and revived the doctrines of the absolute State, of totalitarian government rule, of the government's right to control the lives of the citizens in any manner it pleases. This time, it was not in the name of the "divine right of kings," but in the name of the divine right of the masses. The basic principle was the same: the right to enforce at the point of a gun the moral doctrines of whoever happens to seize control of the machinery of government. | |
| Ayn Rand | Every government interference in the economy
consists of giving an unearned benefit, extorted by force,
to some men at the expense of others. | |
| Ayn Rand | It’s the person who would sell his soul for a nickel, who is loudest in proclaiming his hatred of money -- and he has good reason to hate it. The lovers of money are willing to work for it. They know they are able to deserve it. Let me give you a tip on a clue to men’s characters: the man who damns money has obtained it dishonorably; the man who respects it has earned it. Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter. | |
| Ronald Reagan | Only when the human spirit is allowed to invent and create, only when individuals are given a personal stake in deciding economic policies and benefiting from their success -- only then can societies remain economically alive, dynamic, prosperous, progressive and free. | |
| Ronald Reagan | Are you entitled to the fruits of your labor or does government have some presumptive right to spend and spend and spend? | |
| Ronald Reagan | There are many well-meaning people today who work at placing an economic floor beneath all of us so that no one shall exist below a certain level or standard of living, and certainly we don't quarrel with this. But look more closely and you may find that all too often these well-meaning people are building a ceiling above which no one shall be permitted to climb and between the two are pressing us all into conformity, into a mold of standardized mediocrity. | |
| Ronald Reagan | Our federal tax system is, in short, utterly impossible, utterly unjust and completely counterproductive, [it] reeks with injustice and is fundamentally un-American... it has earned a rebellion and it's time we rebelled. | |
| Ronald Reagan | You and I are told we must choose between a left or right, but I suggest there is no such thing as a left or right. There is only an up or down. Up to man's age-old dream -- the maximum of individual freedom consistent with order -- or down to the ant heap of totalitarianism. Regardless of their sincerity, their humanitarian motives, those who would sacrifice freedom for security have embarked on this downward path. Plutarch warned, 'The real destroyer of the liberties of the people is he who spreads among them bounties, donations and benefits.' | |
| Ronald Reagan | Have we the courage and the will to face up to the immorality and discrimination of the progressive tax, and demand a return to traditional proportionate taxation? ... Today in our country the tax collector's share is 37 cents of every dollar earned. Freedom has never been so fragile, so close to slipping from our grasp. | |
| Ronald Reagan | Government does not tax to get the money it needs; government always finds a need for the money it gets. | |
| Ronald Reagan | One definition of an economist is somebody who sees something happen in practice and wonders if it will work in theory. | |
| Ronald Reagan | There are no such things as limits to growth, because there are no limits on the human capacity for intelligence, imagination and wonder. | |
| Dr. Lawrence W. Reed | It constantly amazes me that defenders of the free market are expected to offer certainty and perfection while government has only to make promises and express good intentions. Many times, for instance, I’ve heard people say, "A free market in education is a bad idea because some child somewhere might fall through the cracks," even though in today’s government school, millions of children are falling through the cracks every day. | |
| Dr. Lawrence W. Reed | After the 16th Amendment was ratified, an income tax was imposed starting in 1913 with rates ranging from 1 percent to 7 percent with the top rate applying only to incomes in excess of $500,000. By 1916 that top rate had risen to 15 percent, on income in excess of $2,000,000. The top rate exceeded 90 percent at its peak in the early 1950s. The first 1040 form -- instructions and all -- took up only four pages. Today there are some 4,000 pages of tax forms and instructions. American workers and business are forced to spend more than 5.4 billion man-hours every year figuring out their taxes. Since those hours could be put to a more productive use, and almost surely would be in the absence of today’s incomprehensible tax code, the result is a large dead-weight output loss of some $200 billion each year. ... The IRS now has more enforcement personnel than the EPA, BATF, OSHA, FDA, and DEA combined. With its 115,000-man workforce, it has the power to search the property and financial documents of American citizens without a search warrant and to seize property from American citizens without a trial. It routinely does both. Economist James L. Payne has written a most revealing analysis of the IRS, a 1993 book entitled Costly Returns. He arrives at a stunning conclusion, the total cost to collect our federal taxes, including the effects on the economy as a whole adds up to an amazing 65 percent of all the tax dollars received annually. The U.S. tax system, says Payne, has produced hundreds of thousands of victims of erroneous IRS penalties, liens, levies, and tax advice. In answering taxpayer questions, for example, the IRS telephone information service has in previous years given about one-third of all callers -- as many as 8.5 million Americans -- the wrong answers to their questions. A 1987 General Accounting Office study found that 47 percent of a random sample of IRS correspondence -- including demands for payments -- contained errors. Incredibly a GAO audit of the IRS in 1993 found widespread evidence of financial malfeasance and gross negligence at the agency. The IRS could not account for 64 percent of its congressional appropriation! | |
| Sir William Rees-Mogg | The value of paper money is precisely the value of a politician's promise, as high or low as you put that; the value of gold is protected by the inability of politicians to manufacture it. | |
| Charley Reese | Congress is extraordinarily reluctant to inject itself into foreign policy. It has dumped entirely its constitutional duty for money onto
a central bank, and for trade, onto the executive branch. It seems to never know what the CIA and other intelligence agencies are doing. Like the
Romans, they no longer talk of the republic or liberty. And like the Romans, the American people, or most of them anyway, don’t seem to care. ...
Like the Romans, we no longer have a citizen army but professional legions, and whether they wear jackboots or not, some federal officers seem to
regard Americans with about the same compassion as the Praetorian Guard had for the plebes. As in Rome, the air is full of suspicion, intrigues and
conspiracies, real or imagined, and the air reeks of greed and opportunism. As those on the Tiber, the rulers on the Potomac have grown
suspicious of the people, don’t trust them and, in some cases fear them. And, as in Rome, they grovel in luxury while taking 40 cents on the dollar
out of the sweat of working people to pay for corn and circuses to keep the mob satisfied. | |
| Charley Reese | If we could manage our own finances the way the Congress does the nation’s, we’d all be living in high cotton and eating high on the hog. | |
| Robert Reich | The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress. | |
| Ralph Reiland | It ain’t over on April 15! If you stop, for example, for a $10 pizza on Thursday night to celebrate being done with the IRS for another year, the taxman will be right there to grab a slice or two. On top of paying the sales tax, you’ll also be picking up a major chunk of what the government charges the pizza shop owner for local property taxes, unemployment insurance taxes, federal payroll taxes, federal and state and local income taxes, and worker’s compensation taxes. Altogether, according to a study by the Americans for Tax Reform, that comes to $3.80 on a $10 pizza for the omnipresent taxman. If you pick up a Bud six-pack to go with the pizza, there’s another 43 cents of each beer dollar that goes straight to the taxman for excise taxes, income taxes, property taxes, etc. For something stronger, say Jack Daniels, the taxman’s share is $7.20, on average, out of every $10. Go lighter and just drink Pepsi and it’s 35 percent of what you pay that goes for taxes at all levels. Add some Marlboros and its 75 percent of the retail price that’s funneled directly into the state’s coffers. Get home and hit the light switch and another $26 out of every $100 on the electric bill goes for government rather than electricity. If you’re flying the next day, the taxman is up early and waiting at the aiport, pocketing $40 on every $100 airline ticket. And he’s there in the hotel lobby when you land, snatching $43 on every $100 of the hotel bill. Go out to dinner and it’s another $28 of every $100 of the tab that ends up with the government rather than with the restaurant, the farmers, truckers and everyone else who worked together to produce the meal. | |
| Sheldon Richman | Among other grand achievements, F. A. Hayek had a remarkable career pointing out the flaws in collectivism. One of his keenest insights was that, paradoxically, any collectivist system necessarily depends on one individual (or small group) to make key social and economic decisions. In contrast, a system based on individualism takes advantage of the aggregate, or 'collective,' information of the whole society; through his actions each participant contributes his own particular, if incomplete, knowledge—information that could never be tapped by the individual at the head of a collectivist state. | |
| Riley v. Carter | Economic necessity cannot justify a disregard of cardinal constitutional guarantee. | |
| Edgar Wallace Robinson | In 1883, a small group of Socialists met in London, announcing their intentions of converting the British economic system from capitalism to socialism. This group chose the name 'Fabian Society.' One of the leading members of the Fabian Society, author George Bernard Shaw, perhaps summed it up best when he said, quote: '... Socialism means equality of income or nothing... under socialism you would not be allowed to be poor. You would be forcibly fed, clothed, lodged, taught, and employed whether you like it or not. If it were discovered that you had not character enough to be worth all this trouble, you might possibly be executed in a kindly manner; but whilst you were permitted to live you would have to live well.' | |
| Joan Robinson | The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists. | |
| Lew Rockwell | Even though they are a relatively recent policy development, civil rights laws are considered necessary to insure rights for blacks. But they are, in fact, among the most draconian forms of intervention into the free market. They attack the essence of private property, the ability to exercise control over it. Such laws have resulted in lessened economic freedom, lowered prosperity, heightened social tension, and more trouble for the groups the laws are supposed to help. ... A Korean grocer may want to employ only Korean clerks, a magazine for black professionals only black editors and writers, and a German restaurant only German cooks and waiters. An employer may think that Iraqi-Americans have been unfairly treated and want to favor them. A women’s health club may want only women customer’s and a men’s bar may want only men. There is nothing wrong with any of these behaviors, although civil rights laws seek to end them. In addition to violating the free labor contract, civil rights laws guarantee everyone the right of “access” to “public accommodations” like restaurants, movie theaters, and shops. In fact, what the civil rights laws call public is really private. These businesses are established by private entrepreneurs with private money. The owners should no more be required to serve everyone who comes into their place than they are required to invite everyone to their home for dinner. A large downtown restaurant is as private as a small house in the country. The real difference between private and public is one of ownership, not function or location. | |
| Lew Rockwell | American money was never more sound, or banking more free, than 200 years ago. Since then, it’s been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole. | |
| Lew Rockwell | Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation. | |
| Lew Rockwell | The only reason for a government service is precisely to provide financial support for an operation that is otherwise unsustainable, or else there would be no point in the government’s involvement at all. | |
| Will Rogers | A foreigner coming here and reading the Congressional Record would say that the President of the United States was elected solely for the purpose of giving Senators somebody to call a horse thief. | |
| Will Rogers | Don't let yesterday use up too much of today. | |
| Felix Rohatyn | Fairness does not require the redistribution of wealth; it requires the creation of wealth, geared to an economy that can provide employment for everyone able and willing to work. | |
| Art Rolnick | We make money the old fashioned way. We print it. | |
| Benjamin A. Rooge | Give me control over a man's economic actions, and hence over his means of survival, and except for a few occasional heroes, I'll promise to deliver to you men who think and write and behave as I want them to. | |
| Franklin D. Roosevelt | True individual freedom cannot exist without economic security and independence. | |
| Franklin D. Roosevelt | The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson. History depicts Andrew Jackson as the last truly honorable and incorruptible American president. | |
| I. Nelson Rose | Lottery tickets are the only consumer products actively promoted and sold by the state. The state does not sell toothpaste, or even promote brushing your teeth. But it tells people they should gamble. The main marketing concern is how to attract new players, who otherwise wouldn't gamble. | |
| Edward Alsworth Ross | During the last dozen years the tales of suppression of free assemblage, free press, and free speech, by local authorities or the State operating under martial law have been so numerous as to have become an old story. They are attacked at the instigation of an economically and socially powerful class, itself enjoying to the full the advantages of free communications, but bent on denying them to the class it holds within its power... | |
| Murray N. Rothbard | It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance. | |
| Mayer Amschel Rothschild | Give me control of a nation's money and I care not who makes the laws. | |
| Michael Rothschild | Fortunately, political freedom and economic progress are natural partners. Despite capitalism's lingering reputation as the source of all the world's evils, the fact remains that every single democracy is a capitalist country. Half a century of economic experimentation proved beyond doubt that tyranny cannot yield prosperity. ... Socialism collapsed because it is a policy of unrestrained intervention. It tries to fix what is 'wrong' with the spontaneous, self-organizaing phenomenon called capitalism. But, of course, a natural process cannot be 'fixed.' ... Socialism is an ideology. Capitalism is a natural phenomenon. | |
| Michael Rowbotham | The surest way to ruin a promising career in economics, whether professional or academic, is to venture into the 'cranks and crackpots' world of suggestions for reform of the financial system. | |
| Warren Rudman | The blame for [the national debt] lies with the Congress and the President, with Democrats and Republicans alike, most all of whom have been unwilling to make the hard choices or to explain to the American people that there is no such thing as a free lunch. | |
| Mike Ruff | Ruff's Third Law of Economic Dynamics: "An economy in motion tends to stay in motion, and an economy at rest tends to stay at rest. A free market is constantly in motion. A centrally planned market slows until it eventually dies completely. | |
| Bertrand Russell | Man has existed for about a million years. He has possessed writing for about 6,000 years, agriculture somewhat longer, but perhaps not much longer. Science, as a dominant factor in determining the belief of educated men, has existed for about 300 years; as a source of economic technique, for about 150 years. In this brief period it has proved itself an incredibly powerful revolutionary force. When we consider how recently it has risen to power, we find ourselves forced to believe that we are at the very beginning of its work in transforming human life. | |
| Rick Santelli | I can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If you're a central banker or one of the congressmen or senators, watch what gold is doing because this is a no-confidence vote in fiscal and dollar policy. | |
| Tupper Saussy | About all a Federal Reserve note can legally do is wipe out one debt and replace it with itself another debt, a note that promises nothing. If anything's been paid, the payment occurs only in the minds of the parties... | |
| Eric Schaub | It's worth what it's worth when it's worth it. | |
| Eric Schaub | The truth doesn't sell. It is high in supply, but low in demand. | |
| Irwin Schiff | If you want irresponsible politicians to spend less, you must give them less to spend. | |
| Lucius Annaeus Seneca | It is quality rather than quantity that matters. | |
| Lucius Annaeus Seneca | Enjoy present pleasures in such a way as not to injure future ones. | |
| Lucius Annaeus Seneca | It is too late to spare when you reach the dregs of the cask. | |
| Hans F. Sennholz | Sound money and free banking are not impossible; they are merely illegal. Freedom of money and freedom of banking...are the principles that must guide our steps. | |
| Albert Shanker | It is time to admit that public education operates like a planned economy. It's a bureaucratic system where everybody's role is spelled out in advance, and there are few incentives for innovation and productivity. It's not a surprise when a school system doesn't improve. It more resembles a Communist economy than our own market economy. | |
| Travis Sharp | GDP is an important metric for determining how much the United States could afford to spend on defense, but it provides no insight into how much the United States should spend. Defense planning is a matter of matching limited resources to achieve carefully scrutinized and prioritized objectives. When there are more threats, a nation spends more. When there are fewer threats, it spends less. As threats evolve, funding should evolve along with them. ... Unfortunately, setting defense spending at four percent of GDP would shield the Pentagon from careful scrutiny and curtail a much-needed transparent national debate. | |
| George Bernard Shaw | You have to choose [as a voter] between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold. | |
| George Bernard Shaw | Lack of money is the root of all evil. | |
| George Bernard Shaw | If all economists were laid end to end, they would not reach a conclusion. | |
| George Bernard Shaw | A socialist is somebody who doesn't have anything, and is ready to divide it up equally among everybody. | |
| George Bernard Shaw | Whether you think Jesus was God or not, you must admit he was a first-rate political economist. | |
| John Sherman | The few who could understand the system will either be so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests. | |
| Julian Simon | The world's problem is not too many people, but lack of political and economic freedom. | |
| Julian Simon | Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. | |
| Malcolm Sinclair | Our whole monetary system is dishonest, as it is debt-based... We did not vote for it. It grew upon us gradually but markedly since 1971 when the commodity-based system was abandoned. | |
| Mark Skousen | No one spends someone else’s money as carefully as he spends his own. | |
| Adam Smith | Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens. | |
| Adam Smith | The proposal of any new law or regulation which comes from [businessmen], ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it. | |
| Adam Smith | It is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. ... They are themselves always, and without exception, the greatest spendthrifts in the society. Let them look well after their own expense, and they may safely trust private people with theirs. | |
| Adam Smith | It is not the benevolence of the butcher, or the baker that we expect our dinner, but from their regard
to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their
advantages. | |
| Adam Smith | Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of any other man or order of men. | |
| Adam Smith | The uniform, constant, and uninterrupted effort of every man to better his condition . . . is frequently powerful enough to maintain the natural progress of things toward improvement, in spite of the extravagance of government, and of the greatest errors of administration. | |
| Adam Smith | It is the highest impertinence and presumption, therefore, in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expence, either by sumptuary laws, or by prohibiting the importation of foreign luxuries. They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expence, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will. | |
| Adam Smith | By pursuing his own interest [every individual] frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good. | |
| Adam Smith | The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would ... assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. | |
| Adam Smith | The natural effort of every individual to better his own condition is so powerful that it is alone, and without any assistance, not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstructions with which the folly of human laws too often encumbers its operations. | |
| Adam Smith | It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. | |
| Adam Smith | The natural effort of every individual to better his own condition, when suffered to exert itself with freedom and security is so powerful a principle that it is alone, and without any assistance, not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstructions with which the folly of human laws too often incumbers its operations; though the effect of these obstructions is always more or less either to encroach upon its freedom, or to diminish its security. | |
| Adam Smith | How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it. | |
| Joseph R. Smith | I have sat on many a promotion panel where the first question of panel members was 'How many seizures have you made?' | |
| Tony Snow | The ['Hillary Care'] plan prescribed some eye popping maximum fines:$5,000 for refusing to join the government mandated health plan; $5,000 for failing to pay premiums on time; 15 years in prison for doctors who received ‘anything of value’ in exchange for helping patients short circuit bureaucracy; $10,000 a day for faulty physician paperwork; and $50,000 for unauthorized patient treatment. When told the plan could bankrupt small businesses, Mrs. Clinton said, 'I can’t be responsible for every under-capitalized small business in America.' | |
| Frederick Soddy | The whole profit of the issuance of money has provided the capital of the great banking business as it exists today. Starting with nothing whatever of their own, they have got the whole world into their debt irredeemably, by a trick. This money comes into existence every time the banks 'lend' and disappears every time the debt is repaid to them. So that if industry tries to repay, the money of the nation disappears. This is what makes prosperity so 'dangerous' as it destroys money just when it is most needed and precipitates a slump. There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth. An honest money system is the only alternative. | |
| Frederick Soddy | The most sinister and anti-social feature about bank-deposit money is that it has no existence. The banks owe the public for a total amount of money which does not exist. In buying and selling, implemented by cheque transactions, there is a mere change in the party to whom the money is owed by the banks. As the one depositor's account is debited, the other is credited and the banks can go on owing for it all the time. The whole profit of the issuance of money has provided the capital of the great banking business as it exists today. Starting with nothing whatever of their own, they have got the whole world into their debt irredeemably, by a trick. This money comes into existence every time the banks 'lend' and disappears every time the debt is repaid to them. So that if industry tries to repay, the money of the nation disappears. This is what makes prosperity so 'dangerous' as it destroys money just when it is most needed and precipitates a slump. There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth. An honest money system is the only alternative. | |
| Thomas Sowell | The economic disasters of socialism and communism come from assuming a blanket superiority of those who want to run a whole economy. | |
| Thomas Sowell | A recent poll showed that nearly half the American public believes that the government should redistribute wealth. That so many people are so willing to blithely put such an enormous and dangerous arbitrary power in the hands of politicians -- risking their own freedom, in hopes of getting what someone else has -- is a painful sign of how far many citizens and voters fall short of what is needed to preserve a democratic republic. | |
| Thomas Sowell | Compassion is the use of public funds to buy votes. | |
| Thomas Sowell | Any politician who starts shouting election-year demagoguery about the rich and the poor should be asked, "What about the other 90 percent of the people? | |
| Lysander Spooner | And the men who loan money to governments, so called, for the purpose of enabling the latter to rob, enslave, and murder their people, are among the greatest villains that the world has ever seen. And they as much deserve to be hunted and killed (if they cannot otherwise be got rid of) as any slave traders, robbers, or pirates that ever lived. | |
| Lysander Spooner | But this theory of our government is wholly different from the practical fact. The fact is that the government, like a highwayman, says to a man: 'Your money, or your life.' And many, if not most, taxes are paid under the compulsion of that threat. The government does not, indeed, waylay a man in a lonely place, spring upon him from the roadside, and, holding a pistol to his head, proceed to rifle his pockets. But the robbery is none the less a robbery on that account; and it is far more dastardly and shameful. The highwayman takes solely upon himself the responsibility, danger, and crime of his own act. He does not pretend that he has any rightful claim to your money, or that he intends to use it for your own benefit. He does not pretend to be anything but a robber. He has not acquired impudence enough to profess to be merely a 'protector,' and that he takes men's money against their will, merely to enable him to 'protect' those infatuated travellers, who feel perfectly able to protect themselves, or do not appreciate his peculiar system of protection. He is too sensible a man to make such professions as these. Furthermore, having taken your money, he leaves you, as you wish him to do. He does not persist in following you on the road, against your will; assuming to be your rightful 'sovereign,' on account of the 'protection' he affords you. He does not keep 'protecting' you, by commanding you to bow down and serve him; by requiring you to do this, and forbidding you to do that; by robbing you of more money as often as he finds it for his interest or pleasure to do so; and by branding you as a rebel, a traitor, and an enemy to your country, and shooting you down without mercy, if you dispute his authority, or resist his demands. He is too much of a gentleman to be guilty of such impostures, and insults, and villanies as these. In short, he does not, in addition to robbing you, attempt to make you either his dupe or his slave. | |
| Lysander Spooner | [T]he only security men can have for their political liberty, consists in keeping their money in their own pockets ... | |
| Lysander Spooner | The Rothschilds, and that class of money-lenders of whom they are the representatives and agents - men who never think of lending a shilling to their next-door neighbors, for purposes of honest industry, unless upon the most ample security, and at the highest rate of interest - stand ready, at all times, to lend money in unlimited amounts to those robbers and murderers, who call themselves governments, to be expended in shooting down those who do not submit quietly to being robbed and enslaved. | |
| Sir Josiah Stamp | Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits. | |
| Leland Stanford | The production of wealth is the result of agreement between labor and capital, between employer and employed. Its distribution, therefore, will follow the law of its creation, or great injustice will be done. | |
| Joseph E. Stiglitz | To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others. The former adds to society. The latter typically subtracts from it, for in the process of taking it away, wealth gets destroyed. A monopolist who overcharges for his product takes money from those whom he is overcharging and at the same time destroys value. To get his monopoly price, he has to restrict production. | |
| Rex Stout | There are two kinds of statistics the kind you look up and the kind you make up. | |
| Gregor Strasser | We are socialists, we are enemies, mortal enemies of the present capitalistic economic system with its exploitation of the economically weak, with its unjust wages, with its immoral evaluation of individuals according to wealth and property instead of responsibility and achievement, and we are determined under all circumstances to abolish this system! | |
| William Graham Sumner | No scheme which has ever been devised by them has ever made a collapsed boom go up again. | |
| Arthur Sylvester | I think the inherent right of the government to lie to save itself when faced with nuclear disaster is basic -- basic. | |
| R. H. Tawney | Bankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans. | |
| A. J. P. Taylor | No matter what political reasons are given for war, the underlying reason is always economic. | |
| Margaret Thatcher | Socialist governments traditionally do make a financial mess. They always run out of other people's money. | |
| Margaret Thatcher | Liberty, human dignity, a higher standard of living is fundamental. And, steadily, I think, people are beginning to realise that you don't have those things unless you have a pretty large private enterprise sector. Any Iron Curtain country has neither liberty, nor a very high standard of living. The two things go, economic and political freedom, go together. I've been right in the forefront of saying that, here, in the States, and it's very interesting to me now, to see a number of articles from people who are taking up the same theme. They are disturbed that Socialism is reducing liberty and freedom for ordinary people, and that's really what matters. | |
| Margaret Thatcher | Look, I think you're tackling public expenditure from the wrong end, if I might say so. Why don't you look at it as any housewife has to look at it? She has to look at her expenditure every week or every month, according to what she can afford to spend, and if she overspends one week or month, she's got to economise the next. Now governments really ought to look at it from the viewpoint of "What can we afford to spend?" They've already put up taxes, and yet the taxes they collect are not enough for the tremendous amount they're spending. They're having to borrow to a greater extent than ever before, and future generations will have to repay. Now, if anyone tells me that a Chancellor of the [Denis Healey] Exchequer can put up public expenditure in two years by -- and it's a tremendous figure -- twenty thousand million pounds, and he doesn't know where to get it down by about three thousand million pounds, then he ought never to have been in charge of the nation's finances ... never! | |
| Margaret Thatcher | I think they've made the biggest financial mess that any government's ever made in this country for a very long time, and Socialist governments traditionally do make a financial mess. They always run out of other people's money. It's quite a characteristic of them. They then start to nationalise everything, and people just do not like more and more nationalisation, and they're now trying to control everything by other means. They're progressively reducing the choice available to ordinary people. | |
| Margaret Thatcher | But don't forget that we fought a 1974 election on saying really that pay couldn't go on going up as it was. The important thing … you must never look at pay on its own, what you've got to look at is pay in relation to the amount produced. It's when those two get badly out of line that you get inflation. And now obviously, we've got very much higher pay, but we're producing less than we were in 1970, so it's the relationship that you've got to watch. Don't look at pay separately. Once you start to cut off a man's pay from the fruits of his labour, he will inevitably feel enormous resentment. If he's going to work harder, of course he deserves more pay, and he doesn't want it all taken away in tax. But there are two sides of the equation you've got to look at. | |
| Margaret Thatcher | I'm never quite sure what you mean by consensus politics. I believe that what most people want in their lives, is what the Conservative Party wants to have for them. I believe that our policies are fundamentally common sense policies. Just let's take taxation for an example. Wherever I go I hear enormous resentment about the amount which people are paying out of their own pay packet in tax. And, this goes right across the income ranges. Socialism started by saying it was going to tax the rich, very rapidly it was taxing the middle income groups. Now, it's taxing people quite highly with incomes way below average and pensioners with incomes way below average. You look at the figure on the beginning of a pay slip, sometimes it can look quite high, look along the slip to the other end, and see how many deductions you've had off, those deductions have increased enormously under Socialism ...
Public expenditure, which they always boast about, is financed out of the pay packet in our pockets. People are saying that they really think too much is being taken out of the pay packet for someone to spend on their behalf, and they'd rather be left with more, and it's now well-known that Socialist Governments put up taxes and Conservative Governments take them down. It's part of our fundamental belief giving the people more choice to spend their own money in their own way. | |
| Henry David Thoreau | A gun gives you the body, not the bird. | |
| Theodore R. Thoren | The creation of money exclusively as debt is the critical, destabilizing flaw in the American Economy. | |
| New York Times | Nelson Rockefeller was in the forefront of the struggle to establish not only an American system of political and economic security but a new world order. | |
| Leo Nikolaevich Tolstoi | Money is a new form of slavery, and distinguishable
from the old simply by the fact that it is impersonal --
that there is no human relation between master and slave. | |
| Rick Tompkins | It is said, mostly by Libertarians, that ‘taxation is theft.’ Theft is too mild a word. Typically, a thief strikes only once, and doesn’t pretend that his robbery is legitimate. Taxation is actually slavery. | |
| James A. Traficant, Jr. | Mr. Speaker, we are now in Chapter 11... Members of Congress are official trustees presiding over the greatest reorganization of any bankrupt entity in world history. | |
| James A. Traficant, Jr. | Mr. Speaker, in 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. Think about it, 1848 Karl Marx, Communism.... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS, my colleagues. I yield back all the rules, regulations, fear, and intimidation of our current system. | |
| Pierre Trudeau | As against the "invisible hand" of Adam Smith, there has to be a visible hand of politicians whose objective is to have the kind of society that is caring and humane. | |
| Mark Twain | A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain. | |
| Mark Twain | I wasn't worth a cent two years ago, and now I owe two million dollars. | |
| Sir Alex Fraser Tytler | A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess of the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. | |
| Sir Alex Fraser Tytler | A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess of the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship....
The average age of the world's greatest civilizations has been two hundred years. These nations have progressed through this sequence: from bondage to spiritual faith; from spiritual faith to great courage; from great courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependence; from dependency back again to bondage. | |
| United States Constitution | No state shall emit bills of credit, make any thing but gold and silver coin a tender in payment of debts, coin money... | |
| United States Constitution | No State shall... coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts... | |
| United States Supreme Court | ... [the 16th Amendment] conferred no new power of taxation... [and]... prohibited the ... power of income taxation possessed by Congress from the beginning from being taken out of the category of indirect taxation to which it inherently belonged... | |
| United States Supreme Court | The Constitution is a written instrument. As such it's meaning does not alter. That which it meant when adopted, it means now. | |
| United States Supreme Court | ...the intent of the lawmaker is to be found in the language that he has used. | |
| United States Supreme Court | To lay with one hand the power of the government on the property of the citizen, and with the other to bestow it upon favored individuals to aid private enterprises and build up private fortunes, is nonetheless a robbery because it is done under the forms of law and is called taxation. This is not legislation. It is a decree under legislative forms. | |
| United States Supreme Court | Because of what appears to be a lawful command on the surface, many Citizens, because of their respect for what appears to be law, are cunningly coerced into waiving their rights due to ignorance. | |
| United States Supreme Court | Our tax system is based upon voluntary assessment and payment, not upon distraint. | |
| United States Supreme Court | The Constitution prohibits any direct tax, unless in proportion to numbers as ascertained by the census..... [and] ... prohibits Congress from laying a direct tax on the revenue from property of the citizen without regard to state lines... | |
| United States Supreme Court | ... bank records are not the depositor's private papers and having given the information to the bank, the depositor has no legitimate expectation of continued privacy... Records of an individual's accounts with banks are not the individual's private papers protected against compulsory production by the 4th Amendment, but instead are the business records of the banks. | |
| Unknown | Economic warfare spans political warfare and military warfare and supersedes both, which are merely tools in the hands of those who are the masters of economic systems. The public is systematically misled, almost hypnotically, to believe that no such hidden masters of economic systems actually exist, or could even possibly exist, and that all of the economic strife in the world today is strictly the result of unplanned human incompetence when, in fact, very deliberate economic warfare is being carried out. Populations struggle to find purely political or military solutions to their economic problems, or they are manipulated and duped into giving yet more economic control over to their masters, in the name of general prosperity, because they do not fully understand the real principles of economics and banking. The myth of their non-existence is what protects the hierarchies of the international money cults of the world and allows them to continue their constant rivalries against one another, and to maintain their existence at the dire cost of their subject populations. | |
| Unknown | A liberal is someone too poor to be a capitalist and too rich to be a communist. | |
| Leon Uris | Terrorism is the war of the poor. War is the terrorism of the rich. | |
| U. S. Constitution | No state shall ... make any thing but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility. | |
| U. S. Constitution | The Congress shall have power: To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures; | |
| U. S. Currency | Series 1863-1934 U.S. Gold Certificate - This is to certify that there have been deposited in the treasury of The United States of America [denomination face value, i.e. Ten Dollars] in gold coin payable to the bearer on demand.<br>
Series 1886-1963 U.S. Silver Certificate - This certifies that there is on deposit in the treasury of The United States of America [denomination face value, i.e. Ten Dollars] in silver payable to the bearer on demand.<br>
Series 1913-1934 Federal Reserve Note - Redeemable in gold on demand at the United States Treasury or in gold or lawful money at any Federal Reserve Bank.<br>
Series 1934-1963 Federal Reserve Note - This note is legal tender for all debts public and private and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank.<br>
Series 1963- Federal Reserve Note - This note is legal tender for all debts, public and private.<br> | |
| U.S. Department of Defense Planning Guide for 1994-1999 | We [the U.S.] must account sufficiently for the interests of the advanced industrial nations to discourage them from challenging our leadership or seeking to overturn the established political and economic order . . . we must maintain the mechanisms for deterring potential competitors from even aspiring to a larger regional or global role. | |
| U.S. Supreme Court | Emitting bills of credit, or the creation of money by private corporations, is what is expressly forbidden by Article 1, Section 10 of the U.S. Constitution. | |
| Jan L.A. van de Snepscheut | In theory, there is no difference between theory and practice, but in practice, there is. | |
| Richard K. Vedder | Productive, private citizens in outlying regions of our nation and states are financially burdened to pay for a parasite public economy of lawmakers, lobbyists, contractors, and bureaucrats in the political centers. | |
| Dr. Edwin Vieira | You can fool some of the people all of the time, and all of the people some of the time, and that's good enough. | |
| Paul Volcker | It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy. | |
| Voltaire | Paper money eventually returns to its intrinsic value -- zero. | |
| Ludwig von Mises | The market is not a place, a thing, or a collective entity. It is a process. | |
| Ludwig von Mises | Once it has been perceived that the division of labour is the essence of society,
nothing remains of the antithesis between individual and society.
The contradiction between individual principle and social principle disappears. | |
| Ludwig von Mises | Many of those who attack capitalism know very well that their situation under any other economic system will be less favorable. Nevertheless, with full knowledge of this fact, they advocate a reform, e.g., socialism, because they hope that the rich, whom they envy, will also suffer under it. | |
| Ludwig von Mises | True, a socialistic society could see that 1000 litres of wine were better than 800 litres. It could decide whether or not 1000 litres of wine were to be preferred to 500 litres of oil. Such a decision would involve no calculation. The will of some man would decide. But the real business of economic administration, the adaptation of means to ends only begins when such a decision is taken. And only economic calculation makes this adaptation possible. Without such assistance, in the bewildering chaos of alternative materials and processes the human mind would be at a complete loss. Whenever we had to decide between different processes or different centres of production, we would be entirely at sea. | |
| Ludwig von Mises | Economic control is not merely control of a sector of human life that can be separated from the rest; it is the control of the
means for all our ends. | |
| Ludwig von Mises | It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power. An economist can never be a favorite of autocrats and demagogues. With them he is always the mischief-maker, and the more they are inwardly convinced that his objections are well-founded, the more they hate him. | |
| Ludwig von Mises | There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final or total catastrophe of the currency system involved. | |
| Ludwig von Mises | Depression and mass unemployment are not caused by the free market, but by government interference in the economy. | |
| Ludwig von Mises | The direction of all economic affairs is in the market society a task of the entrepreneurs. Theirs is the control of production. They are at the helm and steer the ship. A superficial observer would believe that they are supreme. But they are not. They are bound to obey unconditionally the captain's orders. The captain is the consumer. ...[Consumers] make poor people rich and rich people poor. They determine precisely what should be produced, in what quality, and in what quantities. | |
| Ludwig von Mises | Those who call themselves "liberals" today are asking for policies which are precisely the opposite of those policies which the liberals of the nineteenth century advocated in their liberal programs. The so-called liberals of today have the very popular idea that freedom of speech, of thought of the press, freedom of religion, freedom from imprisonment without trial -- that all these freedoms can be preserved in the absence of what is called economic freedom. They do not realize that, in a system where there is no market, where the government directs everything, all those other freedoms are illusory, even if they are made into laws and written up in constitutions. | |
| Ludwig von Mises | Violent resistance against the power of the state is the last resort of the minority in its effort to break loose from the oppression of the majority. ... The citizen must not be so narrowly circumscribed in his activities that, if he thinks differently from those in power, his only choice is either to perish or to destroy the machinery of state. | |
| Ludwig von Mises | The common man is the sovereign consumer whose buying or abstention from buying ultimately determines what should be produced and in what quantity and quality. | |
| Ludwig von Mises | Government cannot make man richer, but it can make him poorer. | |
| W. Allen Wallis | When you pay social security taxes, you are in no way making provision for your own retirement. You are paying the pensions of those who are already retired. Once you understand this, you see that whether you will get the benefits you are counting on when you retire depends on whether Congress will levy enough taxes, borrow enough, or print enough money... | |
| Malcolm Wallop | Today government touches everything in America and harms almost everything it touches. Federal, state, and local governments together spend 42 out of every 100 dollars we earn. Those who do the taxing and spending have long since ceased to work for the people as a whole. Rather, they work for themselves and for their clients—the education industry, the welfare culture, public-employee unions, etc.. | |
| Jude Wanniski | All growth, including political growth, is the result of risk-taking. | |
| James Paul Warburg | We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent. | |
| Charles Warren | If a law to donate aid to any farmer or cattleman who has had poor crops or lost his cattle comes
within the meaning of the phrase “to provide for the General Welfare of the United States,” why should not similar gifts be made to grocers,
shopkeepers, miners, and other businessmen who have made losses through financial depression, or to wage earners out of employment? Why is not
their property equally within the purview of the General Welfare? | |
| Josiah Warren | The necessity of every one paying in his own labor for what he consumes, affords the only legitimate and effectual check to excessive luxury, which has so often ruined individuals, states and empires; and which has now brought almost universal bankruptcy upon us. | |
| George Washington | Few men have virtue to withstand the highest bidder. | |
| George Washington | As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible, avoiding occasions of expense by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it, avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertion in time of peace to discharge the debts which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burden which we ourselves ought to bear. The execution of these maxims belongs to your representatives, but it is necessary that public opinion should co-operate. | |
| George Washington | Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice. | |
| Daniel Webster | Of all contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money. | |
| Daniel Webster | We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people. | |
| Col. Allen West | The first of the dreams that [my parents] instilled in me was individual responsibility and accountability. They taught me that in life you have consequences to each and every decision that you make, and when you try to shy away from those decisions, when you try to shy away from those consequences then someone will come in and allow you to be seen as a victim, and when you become seen as a victim, it’s a spiraling slope downward and downward. Before the next thing you know, you become dependent upon something and right here in the United States of America this is one of the things that we combat against because too many Americans are being castigated as victims. Too many Americans are not being individually responsible and accountable. Too many Americans are becoming dependent upon government and therefore government continues to grow. My parents and their dream was to have a son that was not a victim, but a son that was a victor, and that enables me to stand here before you today. | |
| H. W. White | The banks do create money. They have been doing it for a long time, but they didn't realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create it. | |
| Walter E. Williams | Communism and socialism is [sic] seductive. It promises us that people will contribute according to ability and receive according to needs. Everybody is equal. Everybody has a right to decent housing, decent food and affordable medical care. History should have taught us that when we hear people talk this stuff -- watch out! | |
| Walter E. Williams | All we have to do now is to inform the public that the payment of social security taxes is voluntary and watch the mass exodus. | |
| Walter E. Williams | Conservatives and liberals are kindred spirits as far as government spending is concerned. ... Since government has no resources
of its own, and since there’s no Tooth Fairy handing Congress the funds for the programs it enacts, we are forced to recognize that government
spending is no less than the confiscation of one person’s property to give it to another to whom it does not belong -- in effect, legalized theft. | |
| Walter E. Williams | Wealth comes from successful individual efforts to please one’s fellow man ... that’s what competition is all about: “out pleasing” your competitors to win over the consumers. | |
| Walter E. Williams | Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy. | |
| Charles E. Wilson | The revulsion against war ... will be an almost insuperable obstacle for us to overcome. For that reason, I am convinced that we must begin now to set the machinery in motion for a permanent wartime economy. | |
| Woodrow Wilson | I am a most unhappy man. I have unwittingly ruined my country.
A great industrial nation is controlled by its system of credit.
Our system of credit is concentrated. The growth of the nation,
therefore, and all our activities are in the hands of a few men.
We have come to be one of the worst ruled, one of the most completely
controlled and dominated governments in the civilized world.
No longer a government by free opinion, no longer a government by
conviction and the vote of the majority, but a government by
the opinion and duress of a small group of dominant men. | |
| Woodrow Wilson | Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the U.S., in the field of commerce and manufacturing, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it. | |
| Woodrow Wilson | A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom. | |
| Woodrow Wilson | We have restricted credit, we have restricted opportunity, we have controlled development, and we have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world--no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men. | |
| Jarret B. Wollstein | In Washington, D.C. it costs $7,000 in city fees to open a pushcart. In California, up to eighty federal and state licenses are required to open a small business. In New York, a medallion to operate a taxicab costs $150,000. More than 700 occupations in the United States require a government license. Throughout the country, church soup kitchens for the homeless are being closed by departments of health. No wonder so many people turn to crime and violence to survive. | |
| William Hartman Woodin | Where would we be if we had I.O.U.'s scrip and certificates floating all around the country?" Instead he decided to "issue currency against the sound assets of the banks. [As opposed to issuing currency against gold.] The Federal Reserve Act lets us print all we'll need. And it won't frighten the people. It won't look like stage money. It'll be money that looks like real money. | |
| Virginia Woolf | To enjoy freedom, if the platitude is pardonable, we have of course to control ourselves. We must not squander our powers, helplessly and ignorantly, squirting half the house in order to water a single rose-bush; we must train them, exactly and powerfully, here on the very spot. | |
| Walter Wriston | Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated. | |
| Yahooligans Reference | Police State: A state in which the government exercises rigid and repressive controls over the social, economic, and political life of the people, especially by means of a secret police force. | |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |