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The popular notion that an increase in the stock of money is socially and economically beneficial and desirable is one of the great fallacies of our time.

Hans F. Sennholz

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Hans F. Sennholz
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The government transfers income and wealth according to the rules of politics, which make politicians the primary beneficiaries of the system, and the poor and needy the primary victims.
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A government debt is a government claim against personal income and private property - an unpaid tax bill.
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Redistribution divided society into two social classes: the beneficiaries of transfer, who are calling for ever more and the victims, who submit unwillingly. It could hardly fail to injure social peace and harmony.
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No other commodity enjoys as much universal acceptability and marketability as gold.
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To live beyond your means today is to live below them tomorrow.
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Peace is the natural state of man, war the temporary repeal of reason and virtue.
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The transfer society is forever testing the bounds of patience of taxpayers. Having reached the limit and still facing loud demands for more benefits, it resorts to deficit financing.
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The history of fiat money is little more than a register of monetary follies and inflations. Our present age merely affords another entry in this dismal register.
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Modern government has become a universal transfer agency that utilizes the political process for distributing vast measures of income and wealth. It preys on millions of victims in order to allocate valuable goods and services to its beneficiaries.
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A monetary order created and managed by politicians and officials is bound to disappoint.
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Political power intoxicates the best hearts. No man is wise enough, nor good enough, to be trusted with much political power.
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Government is rather ill-suited and poorly equipped to alleviate the plight of the poor. It lacks moral rules or standards, and is devoid of basic principles in economic and social matters.
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Envy is more irreconcilable than hate. It is the most corroding of all political vices and also a great power in our land. The friends of freedom are content to be envied, but envy not.
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When individual enterprise is free and unhampered, profit-and-loss calculations set precise limits to a businessman's temptations to expand his services... a government valuable they may be, have no market price and, therefore, cannot be subjected to profit-and-loss accounting.
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The gold standard, in one form or another, will prevail long after the present rash of national fiats is forgotten or remembered only in currency museums.
Hans F. Sennholz
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Every businessman enjoying customer patronage, whether he be a baker, banker, or barber is conferring a public benefit, raising production, and reducing unemployment businessmen earn their livelihood by producing products and rendering services where ever they are needed.
Hans F. Sennholz
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Inflationism is a dreadful cancer that is gnawing at the backbone of the civilized order.
Hans F. Sennholz
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Every individual is a potential gold buyer, although he may not need the gold. It may be added to the store of personal wealth, and passed from generation to generation as an object of family wealth. There is no other economic good as marketable as gold.
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Sound money and free banking are not impossible they are merely illegal.
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Unfortunately, it is not in the power of government to make everyone more prosperous. Government can only raise the income of one person by taking from another.
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