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

A 'social justice' society is a conflict which locks beneficiaries and victims alike in a struggle without end. It becomes a society torn apart by resentment over the wealth of capitalists.

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.

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.

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

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.

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.