A Quote by Ludwig von Mises
If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.
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If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
If the system breaks down the consequences will still be very painful. But the bigger the system grows the more disastrous the results of its breakdown will be, so if it is to break down it had best break down sooner rather than later.
The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit. The more inflation progresses, the higher rises the national income.
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All of the government's monetary, economic and political power, as well as its extensive propaganda machinery, will be enlisted in a constant battle to drive down the price of gold - but in the absence of any fundamental change in the nation's monetary, fiscal, and economic direction, simply regard any major retreat in the price of gold as an unexpected buying opportunity.
Never forget that no government has wealth of its own to spend. The money has to come from taxation, monetary inflation, or debt expansion that must be paid later. And government's spending choices will always be uneconomic relative to how society would use that wealth. That is to say, the money will be wasted.
Real music will make you more and more refined. It will become more and more silent. In fact, real music will help you to listen to silence, where all notes disappear, where only gaps remain. One note comes, disappears, and another has not come, and there is a gap. In that gap meditation flows in you.
You may have to declare your forgiveness a hundred times the first day and the second day, but the third day will be less and each day after, until one day you will realize that you have forgiven completely. And then one day you will pray for his wholeness and give him over to me so that my love will burn from his life every vestige of corruption.
Sooner or later, the ones who told you that this isn't the way it's done, the ones who found time to sneer, they will find someone else to hassle. Sooner or later, they stop pointing out how much hubris you've got, how you're not entitled to make a new thing, how you will certainly come to regret your choices. Sooner or later, your work speaks for itself. Outlasting the critics feels like it will take a very long time, but you're more patient than they are.
Much of American wealth is an illusion which is being secretly gnawed away and much of it will be completely wiped out in the near future....So what is the rest of your future? A grisly list of unpleasant events -- exploding inflation, price controls, erosion of your savings (eventually to nothing), a collapse of private as well as government pension programs, and eventually an international monetary holocaust which will sweep all paper currencies down the drain and turn the world upside down.
If the public understands the central bank's views on the economy and monetary policy, then households and businesses will take those views into account in making their spending and investment plans; policy will be more effective as a result.
But what if I fail? You will. A better question might be, ‘after I fail, what then?’ If you’ve chosen well, after you fail you will be one step closer to succeeding, you will be wiser and stronger and you almost certainly will be more respected by all of those that are afraid to try.
Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output... A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.
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I personally believe that those who are leaders with political power over the world will be forced some day, sooner or later, to give way to common sense and the will of the people.
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