A Quote by Murray Rothbard
War has generally had grave and fateful consequences for the American monetary and financial system. We have seen that the Revolutionary War occasioned a mass of depreciated fiat paper, worthless Continentals, a huge public debt, and the beginnings of central banking in the Bank of North America.
Related Quotes
In the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.
Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
The first task of the Federal Reserve system would be to finance the World War. The European nations were already bankrupt, because they had maintained large standing armies for almost fifty years, a situation created by their own central banks, and therefore they could not finance a war. A central bank always imposes a tremendous burden on the nation for "rearmament" and "defense", in order to create inextinguishable debt, simultaneously creating a military dictatorship and enslaving the people to pay the "interest" on the debt which the bankers have artificially created.
America is at war with itself because it's basically declared war not only on any sense of democratic idealism, but it's declared war on all the institutions that make democracy possible. And we see it with the war on public schools. We see it with the war on education. We see it with the war on the healthcare system.
The intelligence community is so vast that more people have top secret clearance than live in Washington. The U.S. will spend more on the war in Afghanistan this year, adjusting for inflation, than we spent on the Revolutionary War, the War of 1812, the Mexican-American War, the Civil War and the Spanish-American War combined.
When I grew up, in Taiwan, the Korean War was seen as a good war, where America protected Asia. It was sort of an extension of World War II. And it was, of course, the peak of the Cold War. People in Taiwan were generally proAmerican. The Korean War made Japan. And then the Vietnam War made Taiwan. There is some truth to that.
Monetary reform, if it is to be genuine and successful, must sever money and banking from politics. That's why a modern gold standard must have: no central bank; no fixed rations between gold and silver; no bail-outs; no suspension of gold payments or other bank frauds; no monetization of debt; and no inflation of the money supply, all of which have proved so disastrous in the past.
Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.
A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.
The Goldschmidts had joined forces with other Rothschild cousins, the Bischoffsheims, to form a banking partnership which financed the North in the American Civil War.
I can't tell Black people to fight a war that is Israel's war. What kind of leader will you be, or should I be, to allow these babies Black, white and brown, to fight Israel's war, because Zionists dominate the government of the United States of America and her banking system.
When you own gold you're fighting every central bank in the world. That's because gold is a currency that competes with government currencies and has a powerful influence on interest rates and the price of government bonds. And that's why central banks long have tried to suppress the price of gold. Gold is the ticket out of the central banking system, the escape from coercive central bank and government power.
Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.
In North America, what happens often is that they put race before nationhood. Everyone here is Hispanic-American, Chinese-American, African-American. But really, we're just North Americans of all these different descents. The only time I notice North Americans becoming national is when a war happens or a crisis happens.
America going into this huge, costly, never-ending war created huge debt, which became a huge problem in Congress and led to it stalling many times, putting a halt to different kinds of social progress.
Scientists have always thought that because mammoths roamed such a huge territory - from Western Europe to Central North America - that North American woolly mammoths were a sideshow of no particular significance to the evolution of the species.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Paul Craig Roberts Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist