Murray Rothbard on Inflation and Central Banks

„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 RothbardMurray Rothbard questions central banks’ responsibility for inflation and criticizes the state monopoly over money creation.
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Murray Rothbard was an American economist, historian, and political philosopher known for his contributions to libertarian theory and anarcho-capitalism.

Rothbard attributes the causes of inflation to a centralized money-creating institution, presenting a fundamentally critical view of state monetary power.


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Murray Rothbard quote about inflation and central banks

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.

Murray Rothbard quote about the Federal Reserve and inflationCopyright © yoice.net – Quote Artwork
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"The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game. The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about 'inflation,' for which virtually everyone else in society seems to be responsible. What we are seeing is the old ploy by the robber who starts shouting 'Stop, thief!' and runs down the street pointing ahead at others." 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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Murray Rothbard quote about the Federal Reserve, systemic inflation, and control of the American monetary systemCopyright © yoice.net – Quote Artwork
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"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
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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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Quote by James Abram Garfield about control of money and its impact on industry and commerceCopyright © yoice.net – Quote Artwork
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"Whoever controls the volume of money in our country is absolute master of all industry and commerce...when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." James Abram Garfield
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Murray Rothbard on Kissinger Associates and Political InfluenceMurray Rothbard quote about Kissinger Associates and international political influence-peddlingCopyright © yoice.net – Quote ArtworkInspirational quote image attributed to George OrwellCopyright © yoice.net – Quote Artwork“Rich people are poor people with money.” – George Orwell