"The main thing is that the government should no longer be in a position to increase the quantity of money in circulation and the amount of checkbook money not fully — that is, 100 percent — covered by deposits paid in by the public."
100 years ago, coordination among central banks was engineered to speed up the renunciation of the gold standard, and greatly enlarge the freedom of all central banks to inflate money supplies.
There is no such a thing as insufficient demand as such. An individual’s demand is constrained by his or her ability to produce goods.
Hayek was right when he said if we want to maintain a free society, we have to take the money monopoly away from the government.
A slowing in the growth of the money supply is only a problem when that money is created "out of thin air."
It is not true that capital — once created — will lead to future wealth gains forever into the future. Only constant adaptation — via entrepreneurs — can make sure that the production process will provide the flow of consumption goods in the periods to come.
We think the state is taking only our money, but it is also taking our time.
The destruction of sound money over the past century stems from actions at the federal level, but there are steps which states can take — and even have already taken — to move toward sound money.
Markets respond with price changes to eliminate money surpluses and money deficits.
M1 and the monetary base are almost equal at this time, but this is unprecedented in modern monetary history, as usually the monetary base is a fraction of M1.
