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.more John Adams quotes |
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.more John Adams quotes |
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While I see many hoof marks going in, I see none coming out. It is easier to get into the enemy's toils than out again.more Aesop quotes |
A crust eaten in peace is better than a banquet partaken in anxiety.more Aesop quotes |
But to manipulate men, to propel them toward goals which you – the social reformers – see, but they may not, is to deny their human essence, to treat them as objects without wills of their own, and therefore to degrade them.more Isaiah Berlin quotes |
No government has ever commanded the resources at the disposal of our ungodly Leviathan, which consumes about 25 percent of the product of the world’s richest country. It is driven by a voracious alliance of government’s own employees, and those who receive benefits from the state. At least 90 million Americans either depend directly on government handouts or jobs, and each private worker must support not only himself and his family, but also carry a government worker on his shoulders.more Tom Bethel quotes |
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.more James Bilbray quotes |
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.more Samuel L. Blumenfeld quotes |
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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.more Bill Bonner quotes |
The trouble with gold is that it turns its back on world improvers, empire builders and do-gooders.more Bill Bonner quotes |
Anyone who believes in indefinite growth in anything physical, on a physically finite planet, is either mad or an economist.more Kenneth Boulding quotes |
I can scarcely contemplate a greater calamity that could befall this country, than be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction.more Brutus quotes |
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.'more Patrick J. Buchanan quotes |
We are taxed in our bread and our wine, in our incomes and our investments, on our land and on our property not only for base creatures who do not deserve the name of men, but for foreign nations, complaisant nations who will bow to us and accept our largesse and promise us to assist in the keeping of the peace - these mendicant nations who will destroy us when we show a moment of weakness or our treasury is bare, and surely it is becoming bare! We are taxed to maintain legions on their soil, in the name of law and order and the Pax Romana, a document which will fall into dust when it pleases our allies and our vassals. We keep them in precarious balance only with our gold. Is the heartblood of our nation worth these? Were they bound to us with ties of love, they would not ask our gold. They take our very flesh, and they hate and despise us. And who shall say we are worthy of more? ... When a government becomes powerful it is destructive, extravagant and violent; it is an usurer which takes bread from innocent mouths and deprives honorable men of their substance, for votes with which to perpetuate itself.more Marcus Tullius Cicero quotes |
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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.more Marcus Tullius Cicero quotes |
The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall.more Marcus Tullius Cicero quotes |
Social positivism only accepts duties, for all and towards all. Its constant social viewpoint cannot include any notion of rights, for such notion always rests on individuality. We are born under a load of obligations of every kind, to our predecessors, to our successors, to our contemporaries. These obligations then increase or accumulate, for it is some time before we can return any service. ... Any human right is therefore as absurd as immoral. Since there are no divine rights anymore, this concept must therefore disappear completely as related only to the preliminary regime and totally inconsistent with the final state where there are only duties based on functions.more Auguste Comte quotes |
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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.more John C. Danforth quotes |
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.more William Richardson Davie quotes |
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.more Perry de Havilland quotes |
In the process of helping some (perhaps most) people to more utility and justice, the state imposes on civil society a system of interdictions and commands.more Anthony de Jasay quotes |
Republics end through luxury; monarchies through poverty.
[Fr., Les republiques finissent par le luxe; les monarchies, par la pauvrete.]more Charles de Montesquieu quotes |
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If you establish a democracy, you must in due time reap the fruits of a democracy. You will in due season have great impatience of the public burdens, combined in due season with great increase of the public expenditure. You will in due season have wars entered into from passion and not from reason; and you will in due season submit to peace ignominiously sought and ignominiously obtained, which will diminish your authority and perhaps endanger your independence. You will in due season find your property is less valueable, and your freedom less complete.more Benjamin Disraeli quotes |
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.more W. E. B. Du Bois quotes |
The government deficit is the difference between the amount of money the government spends and the amount it has the nerve to collect.more Sam Ewing quotes |
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.more Richard Feynman quotes |
But what madness must it be to run in debt for these superfluities! We are offered, by the terms of this vendue, six months' credit; and that perhaps has induced some of us to attend it, because we cannot spare the ready money, and hope now to be fine without it. But, ah, think what you do when you run in debt; you give to another power over your liberty. If you cannot pay at the time, you will be ashamed to see your creditor; you will be in fear when you speak to him, you will make poor pitiful sneaking excuses, and by degrees come to lose you veracity, and sink into base downright lying; for, as Poor Richard says, the second vice is lying, the first is running in debt. And again to the same purpose, lying rides upon debt's back.more Benjamin Franklin quotes |
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Your creditor has authority at his pleasure to deprive you of your liberty, by confining you in gaol for life, or to sell you for a servant, if you should not be able to pay him! When you have got your bargain, you may, perhaps, think little of payment; but creditors, Poor Richard tells us, have better memories than debtors, and in another place says, creditors are a superstitious sect, great observers of set days and times. The day comes round before you are aware, and the demand is made before you are prepared to satisfy it. Or if you bear your debt in mind, the term which at first seemed so long, will, as it lessens, appear extreamly short. Time will seem to have added wings to his heels as well as shoulders. more Benjamin Franklin quotes |
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.more Norm Franz quotes |
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.more Milton Friedman quotes |
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.more Milton Friedman quotes |
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.more Buckminster Fuller quotes |
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.more James A. Garfield quotes |
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.more James A. Garfield quotes |
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.more James A. Garfield quotes |
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.more James A. Garfield quotes |
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. more James A. Garfield quotes |
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.more Barry Goldwater quotes |
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.more Grace Commission quotes |
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.more Alan Greenspan quotes |
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