Inflationism is a dreadful cancer that is gnawing at the backbone of the civilized order.

Peace is the natural state of man, war the temporary repeal of reason and virtue.

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.

To reverse the trend and reduce the role of government in our lives, and thus alleviate the government deficit and inflation pressures, is a giant educational task. The social and economic ideas that gave birth to the transfer system must be discredited and replaced with old values of individual independence and self-reliance. The social philosophy of individual freedom and unhampered private property must again be our guiding light.

The social and racial conflict, which springs from the redistribution ideology, may deepen as economic output is shrinking and transfer 'entitlements cause budget deficits to soar. The U.S. dollar, which has become a mere corollary of government finance, is likely to survive the soaring deficits.

A government debt is a government claim against personal income and private property - an unpaid tax bill.

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.