So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?
Murray RothbardRelated topics
almost bank blight central chronic continuing country creation empowered fed federal inflation institution money monopoly reserve responsible sole source creator banks italy england statesRelated quotes
How on earth are the Chancellor and the Governor of the Bank of England, commending the 'Hard ECU' as they strive to, to be taken as serious participants in the debate against that kind of background noise? I believe that both the Chancellor and the Governor are cricketing enthusiasts, so I hope that there is no monopoly of cricketing metaphors. It is rather like sending your opening batsmen to the crease only for them to find, the moment the first balls are bowled, that their bats have been broken before the game by the team captain.
Geoffrey Howe
Question: If you could pick one cause that has gotten us here, what'd you say it is?
Ron Paul: Easy money. The Federal Reserve artificially lowering interest rates, deceiving the people, the investors, the savers, into believing that there's a lot of savings out there, and that we should invest more, build more houses, more cars. It's the malinvestment, which is every bit as dangerous, from the inflation of the money supply, as is the high prices that usually come.
Ron Paul
I am a conservative. I intend to give the American people a clear choice. I welcome a fight between our philosophy and the liberal left-wing dogma which now threatens to engulf every man, woman, and child in the United States. I am in this race because I believe the American people have been pushed around long enough and that they, like you and I, are fed up with the continuing trend toward a socialist state which now subjects the individual to the dictates of an all-powerful central government.
George Wallace
In ancient times there was no public education, except that of the forum, the theater, and the street, and the general degree of illiteracy was very high.... the early men of science were left very much to themselves and such a phrase as "the scientific culture of Alexandria in the third century B. C." does not cover any reality. In a sense, this is still true today; the real pioneers are so far ahead of the crowd (even a very literate crowd) that they remain almost alone...
George Sarton
Step back in time; look closely at the child in the very arms of his mother; see the external world reflected for the first time in the yet unclear mirror of his understanding; study the first examples which strike his eyes; listen to the first words which arouse within him the slumbering power of thought; watch the first struggles which he has to undergo; only then will you comprehend the source of his prejudices, the habits, and the passions which are to rule his life. The entire man, so to speak, comes fully formed in the wrappings of his cradle.
Alexis de Tocqueville
