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Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country.

Murray Rothbard

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Murray Rothbard
Age: 68 †
Born: 1926
Born: March 2
Died: 1995
Died: January 7
Activist
Economist
Essayist
Historian
Philosopher
Professor
University Teacher
Writer
The Bronx
New York City
Murray Newton Rothbard
Murray N. Rothbard
Country
Entire
Monopoly
Standards
Reserves
Air
Unlike
Gold
Thin
Creating
Legal
Days
Federal
Counterfeiting
Impossible
Holds
Bankrupt
Money
Standard
Reserve

More quotes by Murray Rothbard

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Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money as the commodity providing the most stable and desirable monetary medium.
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Absolute freedom need not be lost as the price we must pay for the advent of civilization men are born free, and need never be in chains. Man may achieve liberty and abundance, freedom and civilization.
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...The very nature of interstate war puts innocent civilians into great jeopardy, especially with modern technology.
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The costs of government are bound to be much higher than those of the free market. . .The State cannot calculate well and therefore cannot gauge its costs accurately.
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In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money.
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Never have the world's moneys been so long cut off from their metallic roots.
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Liberty and morality had to win their way slowly over many centuries, until finally expanding liberty made possible the great technological advance of the Industrial Revolution and the flowering of modern capitalism.
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Cops must be unleashed, and allowed to administer instant punishment, subject of course to liability when they are in error.
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All government wars are unjust.
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I see a great future for gold and silver coins as the currency people may increasingly turn to when paper currencies begin to disintegrate.
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There can be no truly moral choice unless that choice is made in freedom similarly, there can be no really firmly grounded and consistent defense of freedom unless that defense is rooted in moral principle.
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I want to make it clear what I am not saying. I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own.
Murray Rothbard
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It is particularly odd that economists who profess to be champions of a free-market economy, should go to such twists and turns to avoid facing the plain fact: that gold, that scarce and valuable market-produced metal, has always been, and will continue to be, by far the best money for human society.
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Essentially, I mean the almost self-evident fact that individuals, ethnic groups, and races differ among themselves in intelligence and in many other traits, and that intelligence, as well as less controversial traits of temperament, are in large part hereditary.
Murray Rothbard
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If we look at the black record of mass murder, exploitation, and tyranny levied on society by governments over the ages, we need not be loath to abandon the Leviathan State and . . . try freedom.
Murray Rothbard
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The state has typically been a device for producing affluence for a few at the expense of many.
Murray Rothbard
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Every man must have freedom, must have the scope to form, test, and act upon his own choices, for any sort of development of his own personality to take place. He must, in short, be free in order that he may be fully human.
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The natural tendency of the state is inflation. This statement will shock those accustomed to viewing the state as a committee of the whole nation ardently dispensing the general welfare, but I think it nonetheless true.
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Behind the honeyed but patently absurd pleas for equality is a ruthless drive for placing themselves (the elites) at the top of a new hierarchy of power.
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After the Volcker Fund collapsed, I got another grant from the Lilly Endowment to do a history of the U.S., which I worked on from 1962-66. The original idea was to take the regular facts and put a libertarian assessment on everything.
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