All government operation is wasteful, inefficient, and serves the bureaucrat rather than the consumer. Murray Rothbard More Quotes by Murray Rothbard More Quotes From Murray Rothbard Never have the world's moneys been so long cut off from their metallic roots. Murray Rothbard cutting roots long Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium. Murray Rothbard commodity government gold 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. Murray Rothbard money blessing america So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself? Murray Rothbard united-states england country Harold, the young kids out there are not going to be willing to go to the barricades in defense of lowered transaction costs. Murray Rothbard cost defense kids Since leaving office in 1977, Dr. Kissinger has continued to play a highly influential role in U.S. politics, in the U.S. media, and in the Rockefeller world empire. It was Kissinger, along with David Rockefeller, who was decisive in the disastrous decision of President Carter to admit the recently toppled Shah of Iran, old friend and ally of the Rockefellers into the United States, a decision that led directly to the Iranian hostage crisis and to Carter's downfall. Murray Rothbard hostage-crisis media play The natural tendency of the state is inflation. Murray Rothbard tendencies states natural All government wars are unjust. Murray Rothbard government war peace Modern economics is a set of formal models and equations purporting to fully determine human behaviour, at least in the economic realm. And there is no way that uncertainty can be compressed into determinate mathematical models. Murray Rothbard modern behaviour way After the Volcker Fund collapsed, I got another grant from the Lilly Endowment to do a history of the U.S., which I worked on from 1962-66. The original idea was to take the regular facts and put a libertarian assessment on everything. Murray Rothbard assessment libertarian ideas Subjectivism is not an absolute principle; it is a necessary but not sufficient condition for sound methodology. Murray Rothbard methodology principles sound John Stuart was the quintessence of soft rather than hardcore, a woolly minded man of mush in striking contrast to his steel-edged father. Murray Rothbard steel men father The natural tendency of the state is inflation. This statement will shock those accustomed to viewing the state as a committee of the whole nation ardently dispensing the general welfare, but I think it nonetheless true. Murray Rothbard welfare natural thinking The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in it. Murray Rothbard glory war peace I want to make it clear what I am not saying. I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own. Murray Rothbard money gold want The more consistently Austrian School an economist is, the better a writer he will be. Murray Rothbard consistently economist school If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy. Murray Rothbard tickets government gold If government wishes to see a depression ended as quickly as possible and the economy returned to normal prosperity, what course should it adopt? The first and clearest injunction is: Don't interfere with the market's adjustment process. Murray Rothbard wishes see government depression Private philanthropy is the direct expression of the great Christian principle of the brotherhood of man and the Golden Rule. Private philanthropy indeed is the only valid expression of these ethical principles; compulsory charity through 'social legislation' is the exact contrary: it is the evil imposition of force by one group on another. Murray Rothbard great man brotherhood evil 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. Murray Rothbard consequences debt war america
