A Quote by Thomas Jefferson on inflation defined, fiat money, tax, politics, stealing, injustice, fraud, dollar, continental, money, inflation, and monetary system

It will be asked how will the two masses of Continental and of State money have cost the people of the United States seventy-two millions of dollars, when they are to be redeemed now with about six million? I answer that the difference, being sixty-six millions, has been lost on the paper bills separately by the successive holders of them. Every one, through whose hands a bill passed, lost on that bill what it lost in value during the time it was in his hands. This was a real tax on him; and in this way the people of the United States actually contributed those sixty-six millions of dollars during the war, and by a mode of taxation the most oppressive of all because the most unequal of all.

Thomas Jefferson (1743 - 1826)

Source: Observations on the Article Etats-Unis Prepared for the Encyclopedia, June 22, 1786, Vol. IV, p. 165

Contributed by: peter

A Quote by Ludwig von Mises on gdp, national product, national income, economics, inflation, purchasing power, and money

The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit. The more inflation progresses, the higher rises the national income.

Ludwig von Mises

Source: Mises, Ludwig Von (1962). The Ultimate foundation of Economic Science (2nd ed.). Foundation of Economic Education: Irvington-on-Hudson, NY. p. 87

Contributed by: peter

A Quote by Alan Greenspan on welfare, banking system, inflation, theft, deficit, confiscation, wealth, and property rights

The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.

Alan Greenspan (1926 -)

Contributed by: peter

A Quote by Ben S. Bernanke on inflation, fed, control, stealing, and robbery

But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

Ben Bernanke


Contributed by: peter

A Quote by Ludwig von Mises on economy, politics, banking, finance, and inflation

The final outcome of the credit expansion is general impoverishment.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 562

Contributed by: peter

A Quote by Thomas Woodrow Wilson on business, danger, and inflation

Big business is not dangerous today because it is big, but because its bigness is an unwholesome inflation created by privileges and exemptions which it ought not to enjoy.

Woodrow Wilson (1856 - 1924)

Contributed by: Zaady

A Quote by unknown on business, direction, government, inflation, statistics, and value

The Consumer Price Index (CPI) is one of the more insidious statistics developed by our government because it directs the hostility of the inflation-weary public toward business and the marketplace instead of toward the cause: government mismanagement of currency and credit. . . . Real prices are not going up! The value of currency is going down.


Source: 1986

Contributed by: Zaady

A Quote by unknown on government, inflation, and taxes

Inflation is the one form of taxation which even the weakest government can enforce, when it can enforce nothing else.


Source: League of Nations Report on European Inflations of the 1920s

Contributed by: Zaady

A Quote by Rush H. Limbaugh III on beginning, belief, destruction, inflation, poverty, society, war, wealth, welfare, and world

Between 1965 (the beginning of LBJ's "Great Society") and 1994, welfare spending has cost the taxpayers $5.4 trillion in constant 1993 dollars. The War on Poverty has cost us 70 % more than the total price tag for defeating both Germany and Japan in World War II, after adjusting for inflation. Many believe that Welfare has destroyed millions of families and cost a huge portion of our national wealth in the process.

Rush Limbaugh (1951 -)

Contributed by: Zaady

A Quote by Ronald Wilson Reagan on inflation and violence

Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.

Ronald Reagan (1911 -)

Source: 1978

Contributed by: Zaady

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