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Monetary inflation not only raises prices and destroys the value of the currency unit it also acts as a giant system of expropriation.

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
Currency
Expropriation
Giants
Unit
Acts
Monetary
Raises
Destroys
Value
Units
System
Inflation
Values
Prices
Also
Giant

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...The very nature of interstate war puts innocent civilians into great jeopardy, especially with modern technology.
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If we look around, then, at the crucial problem areas of our society - the areas of crisis and failure - we find in each and every case a “red thread” marking and uniting them all: the thread of government. In every one of these cases, government either has totally run or heavily influenced the activity.
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The greatest danger to the State is independent intellectual criticism.
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The necessary consequence of an egalitarian program is the decidedly inegalitarian creation of a ruthless power elite.
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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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Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
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Only the State legally obtains its revenue by coercion.
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Soaking the rich would not only be profoundly immoral, it would drastically penalize the very virtues: thrift, business foresight, and investment, that have brought about our remarkable standard of living. It would truly be killing the goose that lays the golden eggs.
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Since 1933, New Deal farm policy has continued and expanded, pursuing its grisly logic at the expense of the nation's consumers, year in and year out, in Democrat or Republican regimes, in good times and in bad.
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The more the government intervenes to delay the market's adjustment, the longer and more grueling the depression will be, and the more difficult will be the road to complete recovery.
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The more these readjustments are delayed ... the longer the depression will have to last, and the longer complete recovery is postponed.
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Capitalism is the fullest expression of anarchism and anarchism is the fullest expression of capitalism.
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The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in it.
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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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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.
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On the free market, everyone earns according to his productive value in satisfying consumer desires. Under statist distribution, everyone earns in proportion to the amount he can plunder from the producers.
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Positivism eliminates any kind of natural law principle - for example, that there are economic laws which can be transgressed only at your peril. With positivism, there is a tendency to leap into ad hoc economic theory.
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The State provides a legal, orderly, systematic channel for predation on the property of the producers.
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All government wars are unjust.
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Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does not guarantee any worker's employment it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.
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