Quote by Ludwig von Mises on the Gold Standard and Inflation

„The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.“

Ludwig von MisesLudwig von Mises explains how governments abolished the gold standard to allow inflation and its consequences.
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Ludwig von Mises was an Austrian economist, social philosopher, and one of the leading figures of the Austrian School of economics.

Quote by Ludwig von Mises on the abolition of the gold standard and the political measures involved.


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Ludwig von Mises quote about the gold standard and inflation

Ludwig von Mises (1881–1973) was a prominent Austrian economist and social philosopher, known for his contributions to the Austrian School of economics. He significantly influenced libertarian and free-market economic theory and was a critic of socialism and interventionism.

Ludwig von Mises quote about the gold standard and stable purchasing powerCopyright © yoice.net – Quote Artwork
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"The gold standard makes the money's purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence." Ludwig von Mises
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Murray Rothbard quote about gold as the monetary standardCopyright © yoice.net – Quote Artwork
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"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
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Murray Rothbard quote about government money creation and inflationCopyright © yoice.net – Quote Artwork
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"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
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Ayn Rand quote about inflation, government monetary policy, and deficit spendingCopyright © yoice.net – Quote Artwork
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"Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments." Ayn Rand
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