Federal Quotes - page 10
I did say in print, in February, 1929 that there was no hope for economic recovery in Europe before American interest rates came down. That wouldn't be until the American boom collapsed - which was likely to happen within the next few months.And this did, in fact, happen in October 1929.
What made me expect this, of course, was one of my main theoretical beliefs - that an inflationary boom cannot be maintained indefinitely. I was sure that a very unstable situation was created by the artificial prolongation of the boom in 1927, when the Federal Reserve tried to stave off a collapse by credit expansion.
Friedrich Hayek
There is no doubt, and in this I agree with Milton Friedman, that once the Crash had occurred, the Federal Reserve System pursued a silly deflationary policy. I am not only against inflation but I am also against deflation! So, once again, a badly programmed monetary policy prolonged the depression! So, once again, a badly programmed monetary policy prolonged the depression. One consequence of this policy was, of course, the fact that confidence was destroyed.
Friedrich Hayek
The sentence, 'stopping the printing presses,' is a figurative expression, because it is being done now by creating credit by the Federal Reserve System. But this is government action - all inflation is ultimately the result of activities which government determines and can control. And all inflations have been stopped in the past by the government stopping creating money, or preventing the central bank from creating more money. May I add just one thing? See, all inflations have been stopped by people who created or believed in a very naive form of the Quantity Theory, and acted on that. It may be wrong, but it is the only adequate theory effective to stop an inflation.
Friedrich Hayek
The critical question of "standing" would be simplified and also put neatly in focus if we fashioned a federal rule that allowed environmental issues to be litigated before federal agencies or federal courts in the name of the inanimate object about to be despoiled, defaced, or invaded by roads and bulldozers and where injury is the subject of public outrage. Contemporary public concern for protecting nature's ecological equilibrium should lead to the conferral of standing upon environmental objects to sue for their own preservation. This suit would therefore be more properly labeled as Mineral King v. Morton.
William O. Douglas
He was, however, speaking to a representative of government, the police. And it is to government that one goes 'for a redress of grievances,' to use an almost forgotten phrase of the First Amendment. But it is said that the purpose was 'to cause inconvenience and annoyance.' Since when have we Americans been expected to bow submissively to authority and speak with awe and reverence to those who represent us? The constitutional theory is that we the people are the sovereigns, the state and federal officials only our agents. We who have the final word can speak softly or angrily. We can seek to challenge and annoy, as we need not stay docile and quiet.
William O. Douglas
To call a fight for the Zionist idea of a Jewish nation, for the federal principle of Party organisation, a "fight for the equality of the Jews in the world family of the proletariat” is to degrade the struggle from the plane of ideas and principles to that of suspicion, incitement and fanning of historically-evolved prejudices. It glaringly reveals a lack of real ideas and principles as weapons of struggle.
Vladimir Lenin
Of all the calamities that have struck the rural Negro people in the South in recent decades-soil erosion, the infiltration of white tenants into plantation areas, the ravages of the boll weevil, the southwestern shift in cotton cultivation-none has had such grave consequences, or threatens to have such lasting effect, as the combination of world agricultural trends and federal agricultural policies initiated during the thirties.
Gunnar Myrdal
I would like to believe that if we had a freer society, it would take care of blacks and whites and everybody equally because we're all individuals. To me, that is so important. But if we had equal justice under the law, I think it would be a big improvement. If we had probably a repeal of most of the federal laws on drugs and the unfairness on how blacks are treated with these drugs laws, it would be a tremendous improvement.
Ron Paul
I don't even like big government in Washington, let alone having super government over our federal government, such as a North American Union, or the United Nations, or any of these organizations. It just means more government and more attack on individual sovereignty, which is the real issue.
Ron Paul
You can't have a government like this without an income tax, but we don't want a government like this. This is not the type of government that was designed by the founders of the country. This is not what was written in the Constitution. We've only had an income tax since 1913. But if you want a welfare state, and if you want to police the world and pay for the defense of Japan and Germany, give foreign aid to the Soviet Union. You not only need the income tax you need the Federal Reserve to print up the money when the deficit is accumulated. So we think that government should be smaller. If government is small, then you don't need the income tax.
Ron Paul
The rights of all private property owners, even those whose actions decent people find abhorrent, must be respected if we are to maintain a free society... Federal bureaucrats and judges cannot read minds to see if actions are motivated by racism. Therefore, the only way the federal government could ensure an employer was not violating the Civil Rights Act of 1964 was to ensure that the racial composition of a business's workforce matched the racial composition of a bureaucrat or judge's defined body of potential employees... Racial quotas have not contributed to racial harmony or advanced the goal of a color-blind society. Instead, these quotas encouraged racial balkanization, and fostered racial strife... Relations between the races have improved despite, not because of, the 1964 Civil Rights Act.
Ron Paul
The Civil Rights Act of 1964 gave the federal government unprecedented power over the hiring, employee relations, and customer service practices of every business in the country. The result was a massive violation of the rights of private property and contract, which are the bedrocks of free society. The federal government has no legitimate authority to infringe on the rights of private property owners to use their property as they please and to form (or not form) contracts with terms mutually agreeable to all parties.
The Civil Rights Act of 1964 not only violated the Constitution and reduced individual liberty; it also failed to achieve its stated goals of promoting racial harmony and a color-blind society.
Ron Paul
A paper monetary standard means there are no restraints on the printing press or on federal deficits. In 1971, M3 was $776 billion; today it stands at $8.9 trillion, an 1100% increase. Our national debt in 1971 was $408 billion; today it stands at $6.8 trillion, a 1600% increase. Since that time, our dollar has lost almost 80% of its purchasing power. Common sense tells us that this process is not sustainable and something has to give. So far, no one in Washington seems interested.
Ron Paul
When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans. Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
Ron Paul
