The international monetary order is more precarious by far today than it was in 1929. Then, gold was international money, incorruptible, unmanageable, and unchangeable. Today, the U.S. dollar serves as the international medium of exchange, managed by Washington politicians and Federal Reserve officials, manipulated from day to day, and serving political goals and ambitions. This difference alone sounds the alarm to all perceptive observers.

The popular notion that an increase in the stock of money is socially and economically beneficial and desirable is one of the great fallacies of our time.

Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living.

Government welfare programs contribute to the disintegration of poor families. They make women and children dependent on government; dependent for food, for clothing, for shelter; and reward fatherless families with extra benefits and welfare perks.

The paper standard is self-destructive.

We are ever aware that politics is an ugly struggle that determines 'who gets what, when, and how.' It is the favorite occupation of people who serve special interests, who have axes to grind, and public careers to advance. It is a game in which benefits are bestowed according to political skill and connection, rather than merit.

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