The Fed

"There can be no such thing as a Keynesian state on the gold standard, any more then a cocaine addict or compulsive gambler can be on a strict budget."

"Do you think Alan might basically be a social climber?"—Ayn Rand

Bankers who engage in fractional-reserve banking really do create "money out of thin air." Austrian economics is superior to Marxism in every respect.

The argument of sticky wages does not justify the existence of a central bank. Market prices, including wages, are flexible enough to smooth out macroeconomic disturbances.

In the early 1700s, France turned on the taps of paper-money inflation.

Unless Hugo Chavez's government suddenly ends spending and returns to a free market, the most likely conclusion to current events in Venezuela is a crisis of interventionism, as the bolívar collapses and the government finds it more and more difficult to fund itself.

"The Bank of England has been reduced to the position of a part of the machinery for the manufacturing of political money in any quantity that may be required."

"There is a definite sense in which the government plays by a different rulebook, because the central bank waits in the wings to monetize its debts."

It is likely that with the bailout of Greece we have already passed this point of no return.

"The only possible solution to the inflation problem is an open opposition to the unions and to the idea that higher money wages are the only means for improving the condition of the masses."