War and Inflation by Llewellyn H. Rockwell, Jr.
June 9. 2008
“A state without money or a state that must tax its citizens to raise money for its wars is necessarily limited in its imperial ambitions.”
The Fed’s War on the Middle Class by Mark Thornton
June 4, 2008
“Indeed, the Fed's low-interest policy not only encourages spending and borrowing, it discourages the one thing that best helps people raise themselves into higher economic classes — saving.”
Silver and gold guarantee freedom by Edwin Vieira Jr.
April 18, 2008
“Silver and gold as currencies supply the foundation necessary for economic democracy and limited government; whereas fiat currencies inevitably function as the tools of fascism, socialism, and every other form of financial imperialism.”
Sound Money: Key to Prosperity by John F. McManus
April 14, 2008
“[O]nce a commodity has been freely chosen to act as money, there is no need for government management. Gold and silver are commodities whose value and availability will be determined in the market place, just as will the value of any other commodity. Government management of the value, amount, and particulars of automobiles, shovels, gloves, refrigerators, etc. — all commodities — is never considered in a free and open society. In like manner, commodities such as gold and silver should never be encumbered by government decision making.”
Intervention will not stop the dollar’s slide by Peter Schiff
June 27, 2008
“[B]y indicating that they expect inflation to moderate, the Fed is saying that elevated expectations are unwarranted. In other words, Bernanke claims that despite the fact that so many people are carrying umbrellas, he still believes it will be a sunny day. The takeaway from the statement is that no rate hike is forthcoming. The markets saw this position for what it is....capitulation to inflation and a weakening dollar. No surprise then that the gold responded with the biggest single day gain in more than 20 years!”
It’s Not an Oil Crisis It’s a Dollar Crisis by Peter Schiff
May 23, 2008
“The collective belt tightening is simply the down payment on the Government's massive bailout of Wall Street investment banks and mortgage lenders. As the Fed creates money to buy bad mortgages and other shaky securities held by banks and brokerage firms, the value of the savings and wages of everyone on Main Street will continue to fall. As a result, the costs of products previously taken for granted have begun to bite.”
Is War Good For the Economy? by Justin Raimondo
June 27, 2008
“As Ron Paul has tirelessly explained, it is the cost of our expanding overseas empire that is driving us into bankruptcy. We have, as the Old Right seer Garet Garrett put it, an empire of a unique type, one in which "everything goes out and nothing comes in." The costs of this are ordinarily hidden from sight, as Ron Paul explains, by governmental sleight-of-hand . . .”
Review of Lionel Robbins’ The Great Depression by Murray N. Rothbard
November 14, 1959
“In this brief, clear, but extremely meaty book, Robbins sets forth first the Misesian theory of business cycles, and then applies it to the events of the 1920s and 1930s. We see how bank credit expansion in the United States, Great Britain, and other countries (in Britain generated because of the rigid wage structure caused by unions and the unemployment insurance system, as well as a return to the gold standard at too high a par; and in the United States generated by a desire to inflate in order to help Britain as well as an absurd devotion to the ideal of a stable price level) drove the civilized world into a great depression.
“Then Robbins shows how the various nations took measures to counteract and cushion the depression that could only make it worse: propping up unsound, shaky business positions; inflating credit; expanding public works; keeping up wage rates (e.g., Hoover and his White House conferences) — all things that prolonged the necessary depression adjustments, and profoundly aggravated the catastrophe. Robbins is particularly bitter about the wave of tariffs, exchange controls, quotas, etc. that prolonged crises, set nation against nation, and fragmented the international division of labor.”
