Anyone who believes in indefinite growth in anything physical, on a physically finite planet, is either mad or an economist.
more Kenneth Boulding 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
The American Republic will endure, until politicians realize they can bribe the people with their own money.
more Alexis de Tocqueville quotes
Inflation is taxation without representation.
more Milton Friedman quotes
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.
more Milton Friedman quotes
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.
more Milton Friedman quotes
[U]nemployment is ... a side effect of the cure for inflation.
more Milton Friedman quotes
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.
more Kenneth Gerbino quotes
Deficit spending is simply a scheme for the hidden confiscation of wealth.
more Alan Greenspan quotes
We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
more Alan Greenspan quotes
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.
more Henry Hazlitt quotes
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.
more Jack Kemp quotes
Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. … 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 is able to diagnose.
more John Maynard Keynes quotes
Instead of fostering a system that enables people to help themselves, America is now saddled with a system that destroys value, raises costs, hinders innovation and relegates millions of citizens to a life of poverty, dependency and hopelessness. This is what happens when elected officials believe that people’s lives are better run by politicians and regulators than by the people themselves. Those in power fail to see that more government means less liberty, and liberty is the essence of what it means to be American. Love of liberty is the American ideal.
more Charles Koch quotes
The surest way to destroy a nation is to debauch its currency.
more Vladimir Ilyich Lenin quotes
Hundreds of thousands of rouble notes are being issued daily by our treasury. This is done, not in order to fill the coffers of the State with practically worthless paper, but with the deliberate intention of destroying the value of money as a means of payment. ... Experience has taught us it is impossible to root out the evils of capitalism merely by confiscation and expropriation… The simplest way to exterminate the very spirit of capitalism is therefore to flood the country with notes of a high face-value without financial guarantees of any sort. …[T]he great illusion of the value and power of money, on which the capitalist state is based will have been definitely destroyed.
more Vladimir Ilyich Lenin quotes
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.
more Charles A. Lindbergh, Sr. quotes
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.
more Marisa Manley quotes
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.
more Dr. Ron Paul quotes
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.
more Dr. Ron Paul quotes
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.
more Amilcare Puviani quotes
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.
more Ayn Rand quotes
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.
more Ayn Rand quotes
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.
more Ayn Rand quotes
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.
more Lew Rockwell quotes
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.
more Lew Rockwell quotes
Nine tenths of everything is tax. Everything you buy has a complicated history of robbery: land, raw materials, energy, tools, buildings, transport, storage, sales, profits. Don’t forget the share you contribute toward the personal income tax of every worker who has anything to do with the process. Inflation by taxation: there are a hundred taxes on a loaf of bread. What kind of living standard would we enjoy if everything cost a tenth of what it does? What kind of world? Think of your home, your car, your TV, your shoes, your supper—all at a 90% discount! Government can’t fight poverty—poverty is its proudest achievement!
more L. Neil Smith quotes
[T]he only security men can have for their political liberty, consists in keeping their money in their own pockets ...
more Lysander Spooner quotes
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.
more Margaret Thatcher quotes
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.
more Rick Tompkins quotes
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.
more U. S. Constitution quotes
The Congress shall have power: To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
more U. S. Constitution quotes
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.
more Paul Volcker quotes
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.
more Ludwig von Mises quotes
The banks -- commercial banks and the Federal Reserve -- create all the money of this nation and its people pay interest on every dollar of that newly created money. Which means that private banks exercise unconstitutionally, immorally, and ridiculously the power to tax the people. For every newly created dollar dilutes to some extent the value of every other dollar already in circulation.
more Jerry Voorhis quotes
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