„Through the artifices of banking and monetary policy one can achieve only a temporary illusion of improvement, which must ultimately lead to an even more severe catastrophe. For the longer this artificial boom is sustained by the creation of additional credit, the greater the damage inflicted on general prosperity by the use of such measures.“
Ludwig Heinrich Edler von MisesLudwig von Mises warns against short-term illusions in monetary policy and their long-term catastrophic consequences for the national economy.
This quote warns against the short-term illusions created by banking policies and highlights the long-term risks to the economy.
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Copyright © yoice.net – Quote Artwork"There is no way to prevent the final collapse of a boom generated by credit expansion. The only alternative is either an earlier crisis resulting from the voluntary termination of credit expansion, or a later, final, and total catastrophe for the currency system involved."
Ludwig von Mises
Copyright © yoice.net – Quote Artwork"If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences."
Henry Hazlitt
Copyright © yoice.net – Quote Artwork"If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent, on the Commercial Banks. Someone has to borrow every dollar, we have in circulation, cash or credit. If the Banks create ample synthetic money, we are prosperous; if not, we starve. We are, absolutely, without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity, of our hopeless position, is almost incredible, but there it is. It is the most, important subject, intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse, unless it becomes widely understood, and the defects remedied very soon."
Robert H. Hemphill
Copyright © yoice.net – Quote Artwork"I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people."
Reginald McKenna
Copyright © yoice.net – Quote Artwork""...Every decline in the value of money is caused and organized by the state. Paper money and the central bank monopoly are the great super-tricks used to camouflage the violent nature of the state and the predatory basic pattern of ALL politics. Very few citizens are truly aware of the unimaginable extent to which they have been exploited for generations by the combination of progressive income tax and inflation, robbing them of the fruits of their labor.""
Roland Baader
Copyright © yoice.net – Quote Artwork"It may be too late to avert the financial disaster that lies ahead of us, but we must at least prevent the road to financial ruin from also becoming a road to servitude. Let's talk our heads off and write our fingers to the bone, let's make ourselves outsiders and ridiculed figures if necessary, but let's fight to ensure that the basis of people's freedom, the market economy, is not presented to them as the alleged culprit and executed by the henchmen of power under the false pretext. Otherwise, it is we ourselves, our happiness and prosperity and freedom, who die with the market. Let us free ourselves from the true evil, from the fuel of presumptuous domination and destructive lies: from state counterfeit money."
Roland Baader
Copyright © yoice.net – Quote Artwork
Copyright © yoice.net – Quote Artwork
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