Speculation in the Late Empire by Sean Corrigan
January 14, 2006
"Why train to be a farmer or a pharmacologist, when you can join Merrill Lynch and become a millionaire in your mid-20s, using someone else's 'capital' and benefiting from being an insider in the great Ponzi scheme in which we live."
Have Fiat Money, Will Inflate by George F. Smith
September 20, 2005
“Fiat money, by contrast, requires the iron fist of government to make us accept it. This is the kind of money people have never trusted, that makes everyone poorer except the politically connected; it depletes personal savings, leads to wars, bureaucracies, business cycles, personal and public debt, a breakdown in morals, and ultimately to complete destruction of the monetary unit."
Rainbow $10 bills and Hamilton versus Jackson by Morgan Reynolds
March 8, 2006
"Authentic money of value once made the United States rich, thanks in part to leaders like Andrew Jackson. Back then people owned silver and gold, debt-free money, while we suffer from rocketing debt and distortions caused by an inflationary currency imposed by the ruling class. We pay for everything, value for value in accord with capitalist theory, while insiders get plenty for nothing from the money machine."
Bernanke Confuses Depression Cure with Disease by Peter Schiff, Euro Pacific Capital, Inc.
December 9, 2005
"Though he claims to have studied The Great Depression in depth, Bernanke is completely clueless as to its actual cause. However, he is partially right about one thing: the Fed did help create the Depression, but for the opposite reasons Bernanke believes. The Fed-induced credit boom of the roaring 1920’s laid the foundation for the inevitable bust that ushered in the Great Depression. Bernanke has mistaken the disease for the cure, and his antidote, were it ever administered, would prove to be economically fatal to the U.S. economy."
The Gold Standard Gets No Respect by Chris Mayer
December 10, 2005
"If every dollar must be backed by a certain amount of gold, then you cannot create money out of thin air. The gold standard says you must have the gold first. Governments find it harder to wage war, dole out entitlements and build public works with a gold standard tying them down. Banks can’t lend as much money; hence they can’t make as much money. This is why the banking interests of this country backed the creation of the Federal Reserve. They appreciated the value of a good cartel."
Our Money Madness by Llewellyn Rockwell, Jr.
November 21, 2005
"The reason the government – and here I speak of Congress and the presidency – favors a loose monetary policy, a discretionary rule at the Fed, and ongoing low-grade inflation is the most obvious one of all. It pays the bills. In other words, the reason is no different from that of private counterfeiting. They like to have money without having to work to get it. That is essentially what the Federal Reserve provides the government. It doesn’t have to worry about its bond rating collapsing or its credit standing falling. It doesn’t have to bother with taxing people. It can hide the costs of government in the complications associated with monetary affairs."
The Fed’s Grasping Invisible Hand by George F. Smith
September 29, 2004
“As a ‘stealth tax,’ inflation requires no legislation to impose, no agency to collect, and diverts responsibility for damages onto politicians’ favorite whipping boys. It gives government the ability to buy almost anything for nothing, while creating endless problems that serve as a pretext for intervention. Inflation is the foundation of arrogant government and a prescription for our own demise.”
