Quote

American money was never more sound, or banking more free, than 200 years ago. Since then, it's been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.

Llewellyn Rockwell

Change background

T
T
T

Change font

TAGS & TOPICS

Llewellyn Rockwell
Never
Since
Decline
Deposits
American
Steady
Perpetually
Free
Standard
Banking
Sound
Economics
Banks
Running
Standards
Insurance
Shaky
Money
Gold
Feds
Dole
Long
Paper
Competitive
Inflated
Years
System
Currency
Deposit

More quotes by Llewellyn Rockwell

Image
The fact is that the New Deal did not work. It prolonged what might have been a troubling two-year downturn into a horrifying blow to world prosperity that ended up in a war that killed countless millions. It was one of the greatest acts of wreckage in world history.
Llewellyn Rockwell
Image
The state is a vast enterprise for declaring all sorts of things legal for itself that would be illegal for us.
Llewellyn Rockwell
Image
One ironic legacy of the Clinton administration is the rearming of the American citizenry. Each time Clinton and his friends in Congress threaten another round of anti-gun regulations, the American people respond by stocking up.
Llewellyn Rockwell
Image
Always and everywhere, the only serious political issue is what the state should and should not do. All the rest distracts.
Llewellyn Rockwell
Image
We like to imagine that in history, truth will prevail through sheer persuasive power. Sadly, this is not the case. Truth needs champions.
Llewellyn Rockwell
Image
It's a hard truth for Americans to face, that neither team in Washington is going to guard what we love the most. That is something we are going to have to face. Liberty is for the citizens to guard themselves.
Llewellyn Rockwell
Image
What we need is a new consciousness concerning the idea of human liberty.
Llewellyn Rockwell
Image
Money out of nothing is money that is eventually worth nothing.
Llewellyn Rockwell
Image
Without market prices for capital goods, accounting is not possible. You don't know if you are making money or losing money, saving resources or wasting them, doing the right thing or not doing the right thing.
Llewellyn Rockwell
Image
Among the most urgent political priorities of our age is the separation of economy and state.
Llewellyn Rockwell
Image
Profit is a signal that valuable services are being rendered to people on a voluntary basis.
Llewellyn Rockwell
Image
Anything other than free enterprise always means a society of compulsion and lower living standards, and any form of socialism strictly enforced means dictatorship and the total state. That this statement is still widely disputed only illustrates the degree to which malignant fantasy can capture the imagination of intellectuals.
Llewellyn Rockwell
Image
If the people are led to believe that scarce resources are best channeled in a direction that producers and consumers would not choose on their own, the result must necessarily be central planning.
Llewellyn Rockwell
Image
Capitalism, and capitalism alone, has rescued the human race from degrading poverty, rampant sickness and early death.
Llewellyn Rockwell
Image
The state is and has been in history a source of disorder and chaos, and this problem gets worse the more the state grows.
Llewellyn Rockwell
Image
The danger to a free society is not the guns owned by the citizens but an unconstrained government.... An armed society is a self-governing society, just as a disarmed people are vulnerable to arbitrary power of every kind.
Llewellyn Rockwell
Image
In any government bureaucracy, they are not working for you but for the mythical blob called the 'public sector,' which is really nothing but a stash of stolen cash divided among the robber class.
Llewellyn Rockwell
Image
Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.
Llewellyn Rockwell
Image
Welcome to the age of paper money, where governments and central banks can manufacture as much money as they want without limit. Gold was the last limit. Its banishment as a standard unleashed the inflation monster and leviathan itself, which has swelled beyond comprehension.
Llewellyn Rockwell
Image
Libertarianism is a theory of politics that is so compelling that once you have absorbed it, it becomes the lens through which you end up understanding all economic and political events.
Llewellyn Rockwell