A Quote by Murray Rothbard
Investment bankers do much of their business underwriting government bonds, in the United States and abroad. Therefore, they have a vested interest in promoting deficits and in forcing taxpayers to redeem government debt.
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It is the people who constitute the basis of Government credit. Why then cannot the people have benefit of their own gilt-edge credit by receiving non-interest bearing currency-instead of bankers receiving the benefit of the people's credit in interest-bearing bonds. If the United States Government will adopt this policy of increasing its national wealth without contributing to the interest collector-for the whole national debt is made up on interest charges-then you will see an era of progress and prosperity in this country such as could never have come otherwise.
To finance deficits, the government must sell bonds to investors, competing for capital that could otherwise be used to invest in stocks or corporate bonds. Government borrowings raise long-term interest rates, stifling economic growth.
With all this consumer debt, business debt, government debt, smaller movements in interest rates have a magnified effect. a small movement can tip the boat.
The government of the United States has been emphatically termed a government of laws, and not of men. It will certainly cease to deserve this high appellation, if the laws furnish no remedy for the violation of a vested legal right.
I have long been in favor of a balanced budget restriction at the level of the federal government of the United States. Because the federal government has money-creating powers it can, in fact, be very damaging if it runs a series of budget deficits. With the state government in the United States, they don't have money-creating powers. The automatic discipline imposed by the fact that they are in a common monetary unit and don't have control over the money power means that the balanced budget restriction is less needed.
No man ever saw the people of whom he forms a part. No man ever saw a government. I live in the midst of the Government of the United States, but I never saw the Government of the United States. Its personnel extends through all the nations, and across the seas, and into every corner of the world in the persons of the representatives of the United States in foreign
capitals and in foreign centres of commerce.
It is federal, because it is the government of States united in a political union, in contradistinction to a government of individuals, that is, by what is usually called, a social compact. To express it more concisely, it is federal and not national because it is the government of a community of States, and not the government of a single State or Nation.
It was settled by the Constitution, the laws, and the whole practice of the government that the entire executive power is vested in the President of the United States.
...100% of what is collected is absorbed solely by interest on the Federal Debt...all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government.
Meanwhile, the U.S. debt remains, as it has been since 1790, a war debt; the United States continues to spend more on its military than do all other nations on earth put together, and military expenditures are not only the basis of the government's industrial policy; they also take up such a huge proportion of the budget that by many estimations, were it not for them, the United States would not run a deficit at all.
Besides, we had a large debt, contracted at home and abroad in our War of Independence; therefore the great power of taxation was conferred upon this Government.
No man ever saw a government. I live in the midst of the Government of the United States, but I never saw the Government of the United States.
It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer (banker), and the other helps the people. If the currency issued by the Government were no good, then the bonds issued would be no good either. It is a terrible situation when the Government, to increase the national wealth, must go into debt and submit to ruinous interest charges at the hands of men who control the fictitious values of gold.
Since 1981, after our nations severed diplomatic relations, we've worked through a international tribunal to resolve various claims between our countries. The United States and Iran are now settling a long-standing Iranian government claim against the United States government. Iran will be returned its own funds, including appropriate interest but much less than the amount Iran sought. With the nuclear deal done, prisoners released, the time was right to resolve this dispute as well.
If you need to put your money in a safe and secure place and you want it to earn interest, Treasury bonds are safer than putting it in any bank as a deposit or putting it anywhere else, because they are backed by the full faith and credit of the United States Government.
There is far more danger in public than in private monopoly, for when Government goes into business it can always shift its losses to the taxpayers. Government never makes ends meetand that is the first requisite of business.
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