A Quote by Ron Paul

The Congress should not be creating money out of thin air, which is what Lincoln did when he created greenbacks. But it is a congressional responsibility to maintain gold and silver as a legal tender.

Ron Paul

Quote Author

Ron Paul
American - Politician
Born: August 20, 1935

Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt; it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country.

Murray Rothbard

Abraham Lincoln did not contend that his actions were immune from Congressional correction; on the contrary, he specifically said he was acting beyond the present provisions in the expectation that congress would retroactively approve, which they did. He did not say anything like Richard Nixon: if the president does it is legal.

William Lee Miller

Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government.

Ludwig von Mises

At the base of the Fed pyramid, and therefore of the bank system's creation of "money" in the sense of deposits, is the Fed's power to print legal tender money. But the Fed tries its best not to print cash but rather to "print" or create demand deposits, checking deposits, out of thin air, since its demand deposits constitute the reserves on top of which the commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money."

Murray Rothbard

I want to just obey the Constitution.The Constitution says only gold and silver can be legal tender.

Ron Paul

It is not wise for us to permit a few people on the Federal Reserve Board to have life and death power over our economy. My recommendation for reducing some of that power is to repeal legal tender laws and eliminate all taxes on gold, silver and platinum transactions. That way there would be money substitutes and the government money monopoly would be reduced and hence the ability to tax - some people would say steal from - us through inflation.

Walter E. Williams

Article 1 Section 8 of the Constitution says Congress has the ability to coin money and regulate the currency and doesn't say anything about gold or silver.

Ron Paul

First reason is, it's not authorized in the Constitution, it's an illegal institution. The second reason, it's an immoral institution, because we have delivered to a secretive body the privilege of creating money out of thin air; if you or I did it, we'd be called counterfeiters, so why have we legalized counterfeiting? But the economic reasons are overwhelming: the Federal Reserve is the creature that destroys value.

Ron Paul

The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds from the U.S. Treasury...and has created out of nothing a ... debt which the American people are obliged to pay with interest.

Wright Patman

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.

Lawrence Reed

A writer is an artist. They're creating things out of thin air.

Bibi Bourelly

Nothing can compare to creating characters and worlds out of thin air with your friends and making a book exactly the way you think it should be made, pure creative freedom, purity of intention, with no boundaries.

Rick Remender

Thus those reformers, who look for a remedy by creating artificial carrying-costs for the money through the device of requiring legal-tender currency to be periodically stamped at a prescribed cost in order to retain its quality as money, or in analogous ways, have been on the right track; and the practical value of their proposals deserves consideration.

John Maynard Keynes

There have been unions based on gold or silver, but not on fiat money - money tempted to inflate - put out by politically independent entities.

Milton Friedman

I prefer improvising, rather than creating comedy out of thin air.

Johnny Lever

He misses the feeling of creating something out of something. That’s right — something out of something. Because something out of nothing is when you make something up out of thin air, in which case it has no value. Anybody can do that. But something out of something means it was really there the whole time, inside you, and you discover it as part of something new, that’s never happened before.

Etgar Keret

A Quote by Ron Paul

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