Tag Archives: Quotes-inflation

Quotes that mention inflation, and make reference to monetary devaluation

Inflation Is Not Caused By The Actions Of Private Citizens

Posted December 12th, 2012

“Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.”

– Ayn Rand

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The National Government In Connection With The Currency

Posted November 3rd, 2011

“The chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. Grave doubts have been entertained whether Congress is authorized by the Constitution to make any form of paper money legal tender. The present issue of United States notes has been sustained by the necessities of war; but such paper should depend for its value and currency upon its convenience in use and its prompt redemption in coin at the will of the holder, and not upon its compulsory circulation. These notes are not money, but promises to pay money. If the holders demand it, the promise should be kept.”

– James Garfield (Inaugural Address – 1881)

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By A Continuing Process Of Inflation

Posted October 16th, 2011

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they also confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.  There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.”

–  John Maynard Keynes

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Taking From The Federal Government The Power Of Borrowing

Posted July 22nd, 2011

“I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an additional article taking from the Federal Government the power of borrowing. I now deny their power of making paper money or anything else a legal tender.”

– Thomas Jefferson

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If The American People Ever Allow Private Banks

Posted June 21st, 2011

“If the American people ever allow private banks to control the issuance of their currencies, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity until their children will wake up homeless on the continent their fathers conquered.”

– Thomas Jefferson

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