Murray Rothbard on the Federal Reserve and Money Creation

„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 RothbardMurray Rothbard discusses the Federal Reserve, money creation, and the difference between modern monetary policy and the gold standard.
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Murray Rothbard was an American economist, historian, and political philosopher known for his contributions to libertarian theory and anarcho-capitalism.

In this quotation, Murray Rothbard criticizes the institutional position of the Federal Reserve and its role in money creation.


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Murray Rothbard quote about the Federal Reserve, money creation, and the gold standard

Murray Newton Rothbard (1926–1995) was an American economist, historian, and political philosopher considered one of the leading figures in anarcho-capitalism and the libertarian movement. He was a prominent critic of government intervention in economy and society and authored numerous influential works on free market economics, monetary theory, and political philosophy.

Quote by Louis Thomas McFadden exposing the Federal Reserve Banks as private credit monopoliesCopyright © yoice.net – Quote Artwork
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"Some people think the Federal Reserve Banks are US government institutions. They are not... they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will." Louis Thomas McFadden
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Quote by Robert H. Hemphill about the bank money system and its economic impactCopyright © yoice.net – Quote Artwork
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"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
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Quote by G. Edward Griffin about central banks being cartels with a government facadeCopyright © yoice.net – Quote Artwork
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"To cover the fact that a central bank is merely a cartel which has been legalized, its proponents had to lay down a thick smoke screen of technical jargon focusing always on how it would supposedly benefit commerce, the public, and the nation... there was not the slightest glimmer that underneath it all, was a master plan which was designed from top to bottom to serve private interests at the expense of the public... the system is merely a cartel with a government facade." G. Edward Griffin
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Quote by Reginald McKenna about banks creating and destroying money and their influence on government policyCopyright © yoice.net – Quote Artwork
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"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
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Quote by Henry Hazlitt about inflation and its unavoidable economic consequencesCopyright © yoice.net – Quote Artwork
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"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
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