Gold versus Paper by Ludwig von Mises
July 13, 1953
“The excellence of the gold standard is to be seen in the fact that it makes the monetary unit's purchasing power independent of the arbitrary and vacillating policies of governments, political parties, and pressure groups. Historical experience, especially in the last decades, has clearly shown the evils inherent in a national currency system that lacks this independence.”
The Case for the Barbarous Relic by Llewellyn H. Rockwell, Jr.
July 26, 2006
"Economic and civil liberties are constantly threatened and undermined by well-financed power. This one factor is more decisive in the rise of despotism than any other. Frugal states that lack the power to fund themselves cannot gain control over populations. Taxes alone rarely pay for despotism; despotism from time immemorial is financed through monetary expansion."
Why Not Monetary Freedom? (PDF) by Richard M. Ebeling
December 2005
“The best monetary policy would be no policy at all. The advocate of the free market, therefore, calls for the abolition of the federal reserve and the operation of a market-based system of private and competitive free banking.”
Inflation Nation by Steve H. Hanke
May 24, 2006
"For a sense of its impact on the local population [of Milosevic's hyperinflation in 1992-1994], imagine the value of your bank accounts in dollars and then move the decimal point 22 places to the left. Then try to buy something."
The Myth of the “Independent” Fed by Thomas J. DiLorenzo
April, 1997
“Any government monopoly will be corrupt and inefficient, but the Fed may be the worst government monopoly of all. Not only does it operate for its own advantage in the name of promoting the public interest, and offer government officials political cover for their self-interested policies, the Fed also allows no escape. One can at least refuse to do business with, say, the government school monopoly by homeschooling or by sending one’s children to private schools. But one cannot avoid the effects of the Fed’s monetary monopoly.”
Season’s Greetings from the Fed by George F. Smith
December 29, 2004
“‘In 1903, a lawyer in Germany took out an insurance policy and made payments on it faithfully. When the policy came due in 20 years, he cashed it in and bought a single loaf of bread with the proceeds. He was fortunate. If he had waited a few days longer, the money he received would have bought no more than a few crumbs.’”
The Ultimate ‘Success Through Failure’ Manual by Gary North
September 1, 2007
“‘ . . .in the twentieth century, the Fed succeeded in convincing the public that monetary policy was an arcane undertaking that need not concern the average American. Never mind that the Fed had the power to bankrupt thousands of small businesses, to erode a lifetime’s savings, or to throw millions of people out of their jobs.’”
