Money creation | Quotes about the magic of money

"Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it. Even countries that were once more prosperous than their neighbors have found themselves much poorer than their neighbors after just one generation of socialistic policies." Thomas Sowell

"Drug dealers know more about running a business than 95% of college professors." Elon Musk

"Inflation does not come upon us as a curse or as a tragic fate; it is always caused by reckless or even criminal policies." Ludwig Erhard

"More whites were brought as slaves to North Africa than blacks brought as slaves to the United States or to the 13 colonies from which it was formed. White slaves were still being bought and sold in the Ottoman Empire, decades after blacks were freed in the United States." Thomas Sowell

"Every friend of freedom must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence." Milton Friedman

"Political and economic power in the United States is concentrated in the hands of a “ruling elite” that controls most of U.S.-based multinational corporations, major communication media, the most influential foundations, major private universities and most public utilities. Founded in 1921, the Council of Foreign Relations is the key link between the large corporations and the federal government. It has been called a “school for statesmen” and “comes close to being an organ of what C. Wright Mills has called the Power Elite – a group of men, similar in interest and outlook shaping events from invulnerable positions behind the scenes. The creation of the United Nations was a Council project, as well as the International Monetary Fund and the World Bank." Steve Jacobson

"Soon investors will realize that the most incompetent economists in the world work for central banks. The second most incompetent economists work for government. The third most incompetent work for major universities and the forth most incompetent work for large investment banks." Peter Schiff

"Senator LaFollette publicly charged that a money trust of fifty men controlled the United States. George F. Baker, partner of J.P. Morgan, on being queried by reporters as to the truth of the charge, replied that it was absolutely in error. He said that he knew from personal knowledge that not more than eight men ran this country." Eustace Clarence Mullins

"Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion—when you see that in order to produce, you need to obtain permission from men who produce nothing—when you see that money is flowing to those who deal, not in goods, but in favors—when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you—when you see corruption being rewarded and honesty becoming a self-sacrifice—you may know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot. “Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: ‘Account overdrawn.’ “When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, ‘Who is destroying the world?’ You are." Ayn Rand

"The word 'democracy' is a heavy intoxicant. It prevents learning, clouds the mind, confuses thinking, creates delusions - and eventually makes you sleepy and apathetic. Today's democracy junkies would murder Socrates again." Roland Baader

"Laws are - even and especially in modern democracy - rarely instruments that enforce right against wrong, but mostly political tools with which the politically weak are exploited, robbed, suppressed and instrumentalized in favor of the politically strong." Roland Baader

"Three great forces rule the world: stupidity, fear and greed." Albert Einstein

"Inflationary policy is thus robbery policy in a double sense: it robs people not only of their ownership of legitimately acquired goods and thus of the core and principle of freedom, but also of their drive to honest, sincere, responsible and sustainable dealings with fellow human beings and resources. Where such is not only not a taboo, but the order of the day, sooner or later ownership of one's own person and body will again be up for debate." Monika Hausammann

"I acquired all my academic titles by believing in a false doctrine. A studied economist understands less about macroeconomics than a cow does about flying, because he first has to dig himself out of a swamp of preconceived opinions and errors in thinking in order to even reach the surface, or to get back to where he was before he let himself be committed to the stupification asylum." Professor Dr. Dr. Wolfgang Berger